Month: November 2024

LINCOLNSHIRE, Ill. – Camping World Holdings, Inc. (NYSE:CWH) announced today the closing of the previously announced underwritten public offering of 14,634,146 shares of its Class A common stock at a public offering price of $20.50 per share pursuant to a registration statement filed on Form S-3 with the Securities and Exchange Commission.

Additionally, the company has granted the underwriters a 30-day option to purchase up to an aggregate of 2,195,121 additional shares of Class A common stock. The proceeds of the offering were used by Camping World to purchase 14,634,146 common units (or 16,829,267 common units if the underwriters exercise their option in full to purchase additional shares of Class A common stock) directly from CWGS Enterprises LLC at a price per unit equal to the public offering price per share of Class A common stock in the offering, less the underwriting discounts and commissions.

CWGS LLC intends to use the net proceeds from the sale of common units to Camping World for general corporate purposes, including strengthening the balance sheet, working capital for growth and debt pay down.

Goldman Sachs & Co. LLC and J.P. Morgan served as joint lead book-running managers and as representatives of the underwriters for the offering. BofA Securities, Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets and Baird also acted as joint book-running managers for the offering.

The offering was made pursuant to a shelf registration statement on Form S-3 that was filed with the SEC on Oct. 30 and was effective upon filing. The offering was made only by means of a written prospectus supplement and the accompanying base prospectus that forms a part of the registration statement.

A copy of the final prospectus supplement is available on the SEC’s website at www.sec.gov or may also be obtained from any of the following sources:

• Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 866-471-2526 or by email at [email protected] ; or
• J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected] and [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The post Camping World Closes Offering of Class A Common Stock first appeared on RVBusiness - Breaking RV Industry News.

WASHINGTON — No one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year, according to an Associated Press report.

The presidential contest might still be unresolved when the Fed ends its two-day meeting Thursday afternoon, yet that uncertainty would have no effect on its decision to further reduce its benchmark rate. The Fed’s future actions, though, will become more unsettled once a new president and Congress take office in January, particularly if Donald Trump were to win the White House again.

Trump’s proposals to impose high tariffs on all imports and launch mass deportations of unauthorized immigrants and his threat to intrude on the Fed’s normally independent rate decisions could send inflation surging, economists have said. Higher inflation would, in turn, compel the Fed to slow or stop its rate cuts.

On Thursday, the Fed’s policymakers, led by Chair Jerome Powell, are on track to cut their benchmark rate by a quarter-point, to about 4.6%, after having implemented a half-point reduction in September. Economists expect another quarter-point rate cut in December and possibly additional such moves next year. Over time, rate cuts tend to lower the costs of borrowing for consumers and businesses.

Click here to read the full Associated Press report.

The post Fed Set to Cut Rates in Face of Hazy Post-Election Outlook first appeared on RVBusiness - Breaking RV Industry News.

The RV Women’s Alliance (RVWA) and the RV Technical Institute (RVTI) announce their partnership with the Campground Owners Expo (COE) to offer RV technician training to women at the fourth annual event. The COE will take place Dec. 4-7, 2024, at the Hilton Branson Convention Center in Branson, MO.

During the event, campground owners and staff will have the opportunity to receive RVTI’s gold standard Level 1 RV technician training. This training will provide attendees with the knowledge and skills necessary to prepare an RV for customer delivery by verifying the operation of all components.

“We are thrilled to partner with RVTI and COE to offer this valuable training opportunity to female campground owners and staff,” said RV Women’s Alliance President Susan Carpenter. “With this training, campground operators will be able to provide RV repair services for their customers, improving the campers’ experience and create new revenue streams.”

COE registration for campgrounds is just $200 – that one flat fee allows the park to bring up to five people. This means individuals who are participating in the RVTI training will be able to bring up to four additional people from their park who can attend the COE seminars and events while one woman from the park does the tech training. This is a great way to educate more members of your team and gather information from the trade show.

“Campgrounds are such an important part of the customer experience and we believe there is incredible opportunity for campgrounds to take advantage of RV technician training. We appreciate COE allowing us to showcase our training for their attendees,” said RV Technical Institute Executive Director Curt Hemmeler. “This is a great way for campgrounds to invest in their employees and improve the level of service they provide to their guests.”

The Campground Owners Expo is a premier event for campground owners and operators. The expo provides attendees with the opportunity to network with other professionals, learn about new products and services, and gain valuable insights into the campground industry.

“We are proud to partner with RVWA and RVTI to offer this valuable training opportunity to our attendees,” said COE Founder Lori Severson. “This training will help campgrounds improve their operations and provide their guests with a better experience.”

Learn more about how to sign up for the class.

The post RVWA, RVTI to Offer RV Tech Training at Campground Expo first appeared on RVBusiness - Breaking RV Industry News.

STEINBACH, Manitoba – The friendly people at Steinbach Trailers & RV, located in Steinbach, Manitoba, are excited to announce that they’ve just purchased Manitoba’s oldest RV dealership, Pik-A-Dilly RV Centre in Brandon, Manitoba, according to a sponsored report published by SteinbachOnline.com.

Richard Kroeker from Steinbach Trailers & RV says that he’s looking forward to the adventure of adding another dealership to cover the western part of Manitoba.

Kroeker notes that in a very short period of time Steinbach Trailers has become one of south east Manitoba’s largest dealerships.

“When you drive by our little red building you may not realize just how much inventory we actually have since most of it sits behind the building. So chances are we have what you’re looking for – Whether it’s one of the many different Fifth Wheel or RV’s we carry, or the long line up of utility trailers we have in stock.

Kroeker says it’s exciting to be expanding. Pik-A-Dilly is a great fit and they align with our values. In fact, this is something they’ve been working on for quite some time now.

“We approached Pik-A-Dilly RV Centre about a year ago. It’s a third-generation family business and they didn’t really know if they wanted to sell.”

This past May, everything changed and the wheels were set in motion.

“They approached us and said they were ready to sell to a company like ours,” shares Kroeker. “ so it’s taken a bit of time, but we’re very excited that we get to take on this three-generation dealership. They have a great reputation in the western part of the province, and many people from this area would know them because we’ve all heard of Pik-A-Dilly.”

Click here to read the full report at SteinbachOnline.com.

The post Steinbach Trailers & RV Acquires Pik-A-Dilly RV in Canada first appeared on RVBusiness - Breaking RV Industry News.

FORT LAUDERDALE, Fla. – Blue Compass RV, the nation’s second-largest and fastest-growing RV retailer, today announced its November Giving Back campaign to support the Intrepid Fallen Heroes Fund. Blue Compass RV will donate $100 for every RV sold during the month to Intrepid Fallen Heroes Fund, up to $100,000. This latest contribution will bring total donations to this organization to over one million dollars by Blue Compass RV and Motor Home Specialist.

The Intrepid Fallen Heroes Fund serves United States military personnel and veterans experiencing traumatic brain injury and other severe injuries. The organization has constructed twelve major treatment facilities and at military bases nationwide, and today provides ongoing support for their operations.  They offer advanced treatment and rehabilitation for service members.

“We are incredibly grateful for the selfless service of our military members and veterans,” said Jon Ferrando, Founder, CEO, and President of Blue Compass RV. “The Intrepid Fallen Heroes Fund is an organization we hold near and dear to our hearts. Their dedication to supporting the men and women who have fought for our freedoms aligns perfectly with our core values at Blue Compass RV,” said Jon Ferrando, founder, CEO and president of Blue Compass RV. “We thank our many associates and customers who have served in our military. We are very proud to support this incredible organization.”

Since 2000, the Intrepid Fallen Heroes Fund has provided over $200 million in support for military personnel in need. Blue Compass RV most recently has helped to support the Intrepid Spirit Center in Fort Bliss, TX. Blue Compass RV proudly supports the men and women who have sacrificed so much to allow Americans to enjoy the freedoms we have.

“We are extremely grateful for the continued and very generous support of Blue Compass RV and their customers,” said David Winters, President of the Intrepid Fallen Heroes Fund. “Their commitment to our nation’s heroes in uniform and their families is inspirational, and their help will go a long way toward ensuring wounded military personnel receive the best possible care.”

To learn more about the Intrepid Fallen Heroes fund or to show your support, please visit https://www.fallenheroesfund.org/.

The post Blue Compass Pledges $100K to Intrepid Fallen Heroes Fund first appeared on RVBusiness - Breaking RV Industry News.

WASHINGTON, D.C. — The national average for a gallon of gas dipped by two cents since last week to $3.13. Low oil costs and tepid domestic gasoline demand are the primary reasons.

“After the brief interruption caused by Hurricanes Helene and Milton, gas prices have resumed their gradual season decline,” said Andrew Gross, AAA spokesperson. “We are only about seven cents away from the national average’s 2024 low, and it will likely keep rolling and fall below $3 soon.”  

With an estimated 1.2 million AAA members living in households with one or more electric vehicles, AAA tracks the average kilowatt-per-hour cost for all levels of public charging by state. Today’s national average for a kilowatt of electricity at a public charging station dipped by a penny to 34 cents.

According to new data from the Energy Information Administration (EIA), gas demand rose slightly from 8.83 million b/d last week to 9.15. Meanwhile, total domestic gasoline stocks fell from 213.6 million barrels to 210.9, while gasoline production decreased last week, averaging 9.7 million barrels daily.

Today’s national average for a gallon of gas is $3.13, eight cents less than a month ago and 34 cents less than a year ago.

Oil Market Dynamics

At the close of Wednesday’s formal trading session, WTI rose by $1.40 to settle at $68.61 a barrel. The EIA reports that crude oil inventories decreased by 0.5 million barrels from the previous week. At 425.5 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.

Quick Gas and Electricity Stats

Gas

The nation’s top 10 most expensive gasoline markets are Hawaii ($4.59), California ($4.56), Washington ($4.03), Nevada ($3.80), Oregon ($3.62), Alaska ($3.59), Utah ($3.34), Idaho ($3.34), Pennsylvania ($3.32), and Illinois ($3.31).

The nation’s top 10 least expensive gasoline markets are Texas ($2.68), Mississippi ($2.69), Oklahoma ($2.70), Tennessee ($2.74), Louisiana ($2.77), Missouri ($2.77), Arkansas ($2.78), Kansas ($2.78), Kentucky ($2.78), and Alabama ($2.8).

Electric

The nation’s top 10 least expensive states for public charging per kilowatt hour are  Kansas (21 cents), Missouri (24 cents), Nebraska (25 cents), Delaware (27 cents), North Dakota (27 cents), Texas (27 cents), Utah (29 cents), Vermont (30 cents,) Washington DC (30 cents), and Michigan (30 cents).

The nation’s top 10 most expensive states for public charging per kilowatt hour are Hawaii (56 cents), West Virginia (45 cents), New Hampshire (43 cents), Montana (43 cents), Arkansas (42 cents), Louisiana (42 cents), South Carolina (42 cents), Idaho (41 cents), Kentucky (41 cents), and Alaska (41 cents).

Drivers can find current gas and electric charging prices along their route using the AAA TripTik Travel planner.

The post AAA: All Treats and No Tricks at the Pump This Halloween first appeared on RVBusiness - Breaking RV Industry News.

EDITOR’S NOTE: The following is a News & Insights report by the RV Industry Association (RVIA).

The Alliance for Automotive Innovation is extending an offer to RV manufacturers, and in turn to the attorneys representing them in franchise matters, to attend their 2024 Franchise Summit taking place on Tuesday, Dec. 10 at Toyota Motors North American Headquarters in Plano, Texas. The event will feature panels from practitioners discussing the latest developments and trends in automobile franchise law.

There would be a charge for registration ($350 is the early bird rate until 11/1; after that it will be $425). Topics will include:

• Networking Breakfast
• Understanding the Other Side: Franchise Trends & Tips
  • Panelists will discuss tactics that opposing counsel and experts have used in franchise matters. This panel will help you anticipate what the other side will do and be prepared for it. The audience will be encouraged to share their favorite stories too!
• Franchise Legislation
  • Speakers will discuss the highs and lows of the 2024 state legislative sessions. Then the panel will delve into the numerous threats that await OEMs in 2025.
• Developments in Warranty
  • Warranty was the hot topic of 2024 and provides plenty of food for thought. Panelists will discuss the flurry of activity on topics including time guides, litigation, reasonability, and EV batteries.
• Networking Lunch
• Data: Who, What, When, Where, & Why
  • Few topics in franchise involve as many stakeholders and complications as data does. Panelists will discuss the CDK breach, how FTC regulations could impact OEMs, and the continuing push by dealer associations to regulate access to data in their systems.
• Dealership Consolidation: What it Means for Franchise Practitioners
  • The trend of dealership consolidation continues. The panel will discuss what it means for franchise practitioners and OEM dealer networks. Rights of first refusal, OEM evaluation of buy/sells, branding, and more.
• Closing Remarks 

For more information or questions about the Summit, please contact RV Industry Association Director of State Government Affairs Michael Ochs at [email protected]. 

The post Alliance for Automotive Innovation Reaches Out to RV Industry first appeared on RVBusiness - Breaking RV Industry News.

From Blue Ox: Some mornings are made for getting away from it all, with the Blue Ox TrackPro weight distributing hitch you can do it with confidence.

The RVBusiness Featured Video is sponsored by CURT, a Lippert towing brand.

The post Video: Blue Ox Touts its TrackPro Weight Distributing Hitch first appeared on RVBusiness - Breaking RV Industry News.

EDITOR’S NOTE: Now in its 14th year, the RVBusiness Top 50 program celebrates those North American RV dealerships that, in the eyes of an esteemed panel of independent judges, best exemplifies dealer excellence in customer and community service. Winning dealers will be recognized during a presentation Nov. 13 during the RV Dealers Convention/Expo at Paris Las Vegas.

The Top 50 program is made possible thanks to the generous sponsorship of the following organizations: Airxcel Inc., Brown & Brown Insurance, Cummins Inc., GE Appliances, Genesis Products, Northpoint Commercial Finance, NTP-STAG, Performance Brokerage Services, Protective Asset Protection, RV Trader, and Wells Fargo.

RVBusiness will publish a profile of each Top 50 sponsor leading up to the RV Dealers Convention/Expo.

Not all RV insurance companies are created equal.

Bill Koster, Protective Asset Protection’s vice president for the RV, marine and powersports specialty segment, highlights what he believes makes his company stand out.

“At Protective, we do what we say we’re going to do. We’re not the cheapest company out there, but we pay claims, we provide products for dealers that an RV customer would want, and we offer wealth-building programs for dealerships,” he says. “We help dealers take care of their customers, we help them increase their profitability at the dealership, and we do all of that with reputable service and integrity.”

Protective Asset Protection has been serving dealers since 1962. Today, the company serves more than 10,000 dealerships and 500 financial institutions in the automotive, RV, powersports and marine industries. As a vertically integrated provider, Protective acts as both the insurer and the plan administrator, which Koster says offers many benefits, including greater efficiencies, reduced costs and generally quicker service, because everything is handled in-house.

“It’s a rarity in our space that you find a company that’s vertically integrated,” he says of the business, which is part of the financial services holding company, Protective Life Corp., based in Birmingham, Alabama.

Notably, Protective continues to make new offerings and services available to RV dealers. Earlier this year, the company rolled out its own RV GAP coverage (previously available through a third-party provider), and Protective has partnered with MenuMetric to make the company’s F&I menu system available free of charge for its specialty dealers so they can more clearly explain F&I products at the point of sale.

Meanwhile, Koster says Protective offers dealers a robust training program, which includes on-site F&I courses, webinar training sessions and online training modules.

“Training is important because the industry continues to evolve and we want to ensure our dealer partners are best positioned to satisfy their customers’ needs,” he says, noting some dealerships prefer the face-to-face interactions of live training while others prefer remote learning, either through scheduled webinars or on-demand training.

In much the same way that Protective sees itself as a standout in the RV F&I segment, Koster says he believes the annual RVBusiness Top 50 Dealer Awards are a truly unique way to recognize the industry’s top-performing dealerships.

“I’ve seen the applications. It doesn’t just focus on the biggest dealerships; it’s a combination of many attributes. These are dealers who take care of their customers and their employees and who run a superior operation in good times or in bad. That’s why we’ve been a sponsor since the very beginning,” he says. “To me, it’s very inspirational to see how these dealerships perform, and they should be commended for that.”

The post Top 50 Dealer Awards Sponsor: Protective Asset Protection first appeared on RVBusiness - Breaking RV Industry News.

In September of 2025 the RV/MH Hall of Fame will once again host the industry’s suppliers in conjunction with the 2025 Elkhart Dealer Open House, offering an opportunity to exhibit in front of the wholesale side of the industry.

This event has been dubbed as “The premiere supplier exhibition to show in front of dealers, manufacturers and others,” according to a release from the Hall of Fame. 

Registration opened on Oct. 7 for suppliers who exhibited in 2024 and as of Oct. 31 the show is over 10% sold out. For past exhibitors, register by Dec. 31 to secure your same booth space as the 2024 show. For suppliers who register by the Dec. 31 deadline, their company will be included in a drawing to win a free booth (a $3,500 value). For new exhibitors or past exhibitors looking to expand or relocate, the Hall will begin assigning open booth spaces on Jan. 1. 

For new or past exhibitors, please find registration forms and other important information here: https://www.rvmhhalloffame.org/rv-hall-of-fame-suppliers-show/

For those looking to attend/walk the show please find a pre-registration form and more details here: https://www.rvmhhalloffame.org/attendee-information-and-pre-registration/

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