RV Industry Reinforces call to Canadian Government to address Credit Crisis
in the Retail RV Sector

OTTAWA, April 20 /CNW Telbec/ - Representatives from the Recreation Vehicle Dealers Association (RVDA) of Canada are on Parliament Hill today to highlight the continuing and urgent need for a solution to the emerging credit crisis in the retail RV sector.

"Last year, we voiced our concerns about the unprecedented credit crisis. Our 420 dealer members reported the lack of floor plan financing as the biggest concern facing their businesses in 2009, and this trend is continuing in 2010," stated Kim Stone, RVDA of Canada Chairman of the Board. "This is extremely difficult to grasp, as more and more Canadians continue to move towards the affordable and flexible travel offered by RV ownership."

In the face of this financial crisis, the RVDA of Canada would like to work together toward finding a credit solution. "The RV industry recognizes recent measures taken by the Government of Canada to help alleviate the financial crisis," said Stone. "However, a more targeted approach is needed to meet the specific needs of the RV industry."

The RV industry depends on financing to stay viable, and there lies an opportunity to collaborate with an industry that can lead the national economy in financial recovery. The industry continues to urge the Government of Canada to develop a lending model that would more directly inject funding into the RV marketplace.

The impact of the retail RV sector is not simply one time retail sales. "RVing and the RV lifestyle make important economic contributions to ongoing tourism and recreation spending in every region of Canada," concluded Stone. "In 2008, RV ownership was set at record levels and there are more than 1 million RVs on Canada's roads today. In fact, some 14% of Canadian households currently own an RV."

The RV market has stability, profitability, and a long history of low-risk loans. The RVDA of Canada would like to work collaboratively towards finding a credit solution that makes sense for the RV industry and the economy. Indeed, the entire future of the RV industry depends on finding solutions to the liquidity crisis.

The Recreation Vehicle Dealers Association of Canada is a national, volunteer federation of provincial and regional RVDA associations and their members, who have united to form a professional trade association for all businesses involved in the recreation vehicle industry.

SOURCE RECREATION VEHICLE DEALERS ASSOCIATION OF CANADA

For further information: For further information: Alana Fontaine, Cell: (613) 299-4017, Office: (613) 233-8906, alana@impactcanada.com; Eleonore Hamm, President, RVDA of Canada, Office: (604) 718-6325, eleonore_hamm@rvda.ca

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RECREATION VEHICLE DEALERS ASSOCIATION OF CANADA

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