Thursday, April 24, 2008

Monaco Coach Takes Bad Turn

These are bad times for American recreational vehicle companies, but high-end maker Monaco Coach can take some cold comfort from knowing that the overall market is shrinking faster than it is.

Monaco Coach reported numbers that missed Wall Street’s estimates Wednesday. Chairman Kay Toolson attributed “plummeting consumer confidence,” which led many drivers to put off purchasing recreational vehicles, and “a difficult consumer lending environment.”

Monaco's problems reflect the United States' subprime mortgage meltdown and rising gas prices.

The recreational vehicle manufacturer followed up with some positive light. Toolson reported that Monaco Coach’s market share rose 8.5% in January and February in spite of the general motor home industry’s slide of 20.6%, according to market data provider Statistical Surveys.
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