Wednesday, February 18, 2009

RV Industry Optimistic About Stimulus Plan

The Recreation Vehicle Industry Association expressed optimism today that the federal economic credit and stimulus packages, which include provisions to stimulate lending, and friendly tax treatment for new motorhome purchases, will help promote sales and aid in the industry's economic recovery.

Like many of the nation's manufacturing sectors, the RV industry has experienced a sharp decline in sales. As a result, plants have closed and workers have been laid off. The industry anticipates that the stimulus package may help to restore consumer confidence by staunching job losses.

"We're hopeful that the stimulus will work as planned," says RVIA President Richard Coon. "It contains favorable elements that we hope will help improve the economic environment for our industry and stimulate RV sales."

One provision in the stimulus bill provides a deduction for sales or excise taxes on the first $49,500 of new motorhome purchases.
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