Month: January 2025

WASHINGTON, D.C. — Easing oil costs and tepid domestic demand helped pump prices ease up on the pedal, shedding two cents since last week to $3.11, according to AAA. Meanwhile, today’s national average per kilowatt hour of electricity at a public EV charging station remained at 34 cents.

“We are about halfway through winter, so there may be fewer seasonal spikes at the pump,” Andrew Gross, AAA spokesperson.  “And on a personal note, this is my final gas update, as I am retiring. But fear not, the AAA Fuel Report will remain in capable hands.”

According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.08 million b/d last week to 8.30. Meanwhile, total domestic gasoline stocks rose from 245.9 million barrels to 248.9, while gasoline production decreased last week, averaging 9.2 million barrels daily.

Today’s national average for a gallon of gas is $3.11, nine cents more than a month ago and one penny less than a year ago.

Oil Market Dynamics

At the close of Wednesday’s formal trading session, WTI fell $1.15 to settle at $72.62 a barrel. The EIA reports that crude oil inventories increased by 3.5 million barrels from the previous week. At 415.1 million barrels, U.S. crude oil inventories are about 6% 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 ($4.55), California ($4.45), Washington ($3.95), Nevada ($3.67), Oregon ($3.55), Pennsylvania ($3.36), Alaska ($3.31), Washington, DC ($3.28), Illinois ($3.27), and Maryland ($3.25).

The nation’s top 10 least expensive gasoline markets are Mississippi ($2.68), Oklahoma ($2.72), Texas ($2.73), Arkansas ($2.76), Louisiana ($2.79), Kentucky ($2.80), South Carolina ($2.81), Alabama ($2.82), Kansas ($2.82), and Tennessee ($2.82).

Electric

The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (22 cents), Nebraska (25 cents), Missouri (25 cents), Maryland (26 cents), Delaware (27 cents), Texas (29 cents), Utah (29 cents), Michigan (29 cents), North Dakota (30 cents), and Iowa (31 cents).

The nation’s top 10 most expensive states for public charging per kilowatt hour are Hawaii (55 cents), West Virginia (47 cents), Montana (44 cents), Tennessee (43 cents), Idaho (42 cents), New Hampshire (42 cents), Arkansas (42 cents), South Carolina (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: Less Demand Helps Drivers Catch Small Break at Pump first appeared on RVBusiness - Breaking RV Industry News.

The revolutionary Level9 leveling system, co-created by Kyle Camping and Lippert Components Inc., has received the prestigious European Innovation Award 2025 in the Innovative Vehicle Related Equipment category, according to a report by About Camp BtoB, a trade media firm that covers the European RV industry.

This accolade, created by the German publishing house DoldeMedien Verlag GmbH, was awarded at an annual ceremony at CMT 2025 in Stuttgart, and honors excellence in the caravanning industry. Winners are voted for by a jury composed of journalists from 17 specialist magazines across 15 European countries.

Francesca Tompetrini, Marketing Manager Caravanning and Rail EMEA for Lippert, said: “We are proud to have received this prestigious recognition. At all the industry trade shows we have attended, Level9 has generated significant interest from the public and received numerous accolades from the specialized press.”

Click here to read the full report by About Camp BtoB,

The post Lippert, Kyle Camping Win Coveted European Innovation Award first appeared on RVBusiness - Breaking RV Industry News.

LAS VEGAS, Nev. — RV Business Solutions (RVBS), a leading brokerage and advisory firm specializing in RV dealership transactions, today (Jan. 31) announced the successful acquisition of Hitch RV by Camping World. This strategic move expands Camping World’s presence in the growing RV market while opening new opportunities for Hitch RV to continue delivering premium service to a broader customer base, according to the release from RV Business Solutions.

With locations in Delaware, New Jersey and Pennsylvania, Hitch RV has been recognized for its diverse RV inventory, outstanding customer service, and strong community relationships across multiple locations, the release continued. By joining forces with Camping World, one of the nation’s largest RV retailers, Hitch RV will be able to leverage expanded resources and reach, ensuring a seamless transition for its loyal customers.

“We are proud to have served as the exclusive advisor in this transaction,” said Scott Degnan, CEO at RV Business Solutions. “This acquisition underscores the continued demand for quality dealerships in the RV industry. We’re confident that Hitch RV’s longstanding commitment to customer satisfaction will thrive under Camping World’s renowned brand and network.”

“Our team worked closely with both Hitch RV and Camping World to ensure a smooth and timely transition,” added Mike Lankford, president at RV Business Solutions and a lead on the transaction. “We look forward to seeing how this partnership drives growth for all parties while maintaining the exceptional service customers have come to expect.”

“Mikke and Scott did a great job for us. It was a long process, but their tenacity and ‘round the clock work ethic kept this deal on track. Plus, they understand all the ins and outs of RV dealers. We are very appreciative for the RV Business Solutions team,” said Tim Waters, Managing Partner.

RV Business Solutions managed every stage of the process—from initial valuation and negotiations to closing—ensuring that the deal concluded efficiently and effectively. The sale is effective immediately, with Hitch RV’s existing operations continuing uninterrupted under the Camping World umbrella. Customers can expect the same level of dedicated service, now bolstered by Camping World’s extensive product offerings and nationwide support network.

The post RV Business Solutions Facilitates CW Acquisition of Hitch RV first appeared on RVBusiness - Breaking RV Industry News.

The Conference Board Consumer Confidence Index declined by 5.4 points in January to 104.1 (1985=100). December’s reading was revised up by 4.8 points to 109.5 but was still down 3.3 points from the previous month, according to a report by The Conference Board, a non-partisan, not-for-profit think tank.

The Present Situation Index — based on consumers’ assessment of current business and labor market conditions — fell sharply in January, dropping 9.7 points to 134.3. The Expectations Index — based on consumers’ short-term outlook for income, business, and labor market conditions — fell 2.6 points to 83.9, but remained above the threshold of 80 that usually signals a recession ahead. The cutoff date for preliminary results was January 20, 2025.

“Consumer confidence has been moving sideways in a relatively stable, narrow range since 2022. January was no exception. The Index weakened for a second straight month, but still remained in that range, even if in the lower part,” said Dana M. Peterson, Chief Economist at The Conference Board. “All five components of the Index deteriorated but consumers’ assessments of the present situation experienced the largest decline. Notably, views of current labor market conditions fell for the first time since September, while assessments of business conditions weakened for the second month in a row. Meanwhile, consumers were also less optimistic about future business conditions and, to a lesser extent, income. The return of pessimism about future employment prospects seen in December was confirmed in January.”

By age group, January’s fall in confidence was led by consumers under 55 years old. Consumers aged 55+ saw a small uptick in confidence. By income group, the sharpest decline in confidence was seen in households earning over $125K, while consumers at the bottom of the income range reported the strongest gains. The confidence gap between the top income groups and those making between $75K and $100K narrowed.

Peterson added: “Nonetheless, there were positive notes in other aspects of the survey. Consumers’ views of their Family’s Current Financial Situation were more positive, and six-month expectations for family finances reached a new series high. The proportion of consumers anticipating a recession over the next 12 months was stable near the series low. (These measures are not included in calculating the Consumer Confidence Index®.) Consumers also remained bullish about the stock market, even if a bit less so than at the end of 2024. Over half of consumers (52.9%) expected stock prices to increase over the year ahead, compared to just 23.7% who expected stock prices to decline.”

Average 12-month inflation expectations increased from 5.1% to 5.3% in January, likely reflecting stickier inflation in recent months. Additionally, references to inflation and prices continue to dominate write-in responses. More than half (51.4%) of consumers now expect higher interest rates over the next 12 months. The share expecting lower rates dropped from 28.5% last month to 23.9% in January. This is consistent with recent signaling by the Fed that the pace of interest rate cuts may slow in 2025, as well as ongoing increases in mortgage rates.

On a six-month moving average basis, purchasing plans for homes and cars were flat in January. More consumers planned to buy big-ticket items over the next six months than not, but that share was down slightly. Consumer buying plans were flat for most appliances and still down for electronics on a six-month moving average basis. Separately, consumers continued to express intentions to purchase additional services in the months ahead, especially dining out and streaming. Vacation plans continued to trend downward at the start of 2025.

Click here to read the full report by The Conference Board.

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WASHINGTON — An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated, even as inflation is cooling in fits and starts, according to an Associated Press report.

Friday’s report from the Commerce Department showed that consumer prices rose 2.6% in December from a year earlier, up from a 2.4% annual pace in November and the third straight increase. Excluding the volatile food and energy categories, prices increased 2.8% compared with a year ago, the same as in November and October.

The figures arrive just two days after Federal Reserve officials, led by Chair Jerome Powell, decided to pause their interest rate cuts in part because inflation has largely been stuck at about 2.5%, above their 2% target, for the past six months.

There were some positive signs in Wednesday’s report, however. When measured in shorter time frames, inflation is slowing: In December, core prices ticked up 0.2% from the previous month, a pace that is nearly consistent with the Fed’s annual target. Economists — and Fed officials — pay close attention to core prices because they provide a better read on where inflation is headed.

Click here to read the full Associated Press report.

The post Inflation Edged Higher Last Month Due to Price Pressures first appeared on RVBusiness - Breaking RV Industry News.

INDIANAPOLIS, Ind. – National Federation of Independent Business (NFIB) Indiana State Director Natalie Robinson testified Tuesday (Jan. 28) supporting SB 443, the Business Personal Property Tax, according to a release. The legislation increases the acquisition cost threshold for the business personal property tax exemption and phases down the minimum valuation percentage over a three-year period. Senators. Aaron Freeman and Chris Garten authored the legislation.

“Indiana’s small businesses welcome any financial relief from the General Assembly and support Senate Bill 443,” said Robinson. “Small business owners are reporting higher confidence surrounding the economy, and this type of legislation will further bolster their confidence. We thank Senator Freeman and Senator Garten for authoring this bill and prioritizing Main Street.”

NFIB highlights three main positive impacts the legislation would have on Indiana’s small businesses:

Increased Exemption Threshold

The bill proposed an increase in the exemption threshold from $80,000 to $160,000 for the acquisition cost of a taxpayer’s total business personal property in a county. This adjustment can significantly benefit small businesses by potentially exempting more of their property from taxation. This reduces the tax burden on small businesses that typically have lower capital expenditures compared to larger enterprises. This could lead to increased capital availability for reinvestment in business growth, workforce expansion, or other operational enhancements.

Economic Competitiveness

By alleviating the tax burden on small businesses, Indiana strengthens its economic competitiveness. Small businesses are often termed the backbone of the economy, and reducing financial pressures stimulates entrepreneurship and innovation. This bill supports this notion by making Indiana a more attractive place for starting and growing businesses.

Decreased Minimum Valuation Percentage

By gradually reducing the minimum valuation percentage to zero by 2027, the bill aligns the taxable value of business personal property closer to market value. Although this change might primarily impact larger scale businesses with significant personal property, small businesses can benefit indirectly through potential decreases in overall property tax rates within their jurisdictions.

About NFIB

For 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is nonprofit, nonpartisan, and member-driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses, and remains so today. For more information, please visit nfib.com.

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WASHINGTON — President Donald Trump said his 25% tariffs on Canada and Mexico are coming on Saturday, but he’s still considering whether to include oil from those countries as part of his import taxes, according to an Associated Press report.

“We may or may not,” Trump told reporters Thursday in the Oval Office about tariffing oil from Canada and Mexico. “We’re going to make that determination probably tonight.”

Trump said his decision will be based on whether the price of oil charged by the two trading partners is fair, although the basis of his threatened tariffs pertains to stopping illegal immigration and the smuggling of chemicals used for fentanyl.

The risk of tariffs on Canadian and Mexican oil could undermine Trump’s repeated pledge to lower overall inflation by reducing energy costs. Costs associated with tariffs could be passed along to consumers in the form of higher gasoline prices — an issue that Trump placed at the center of his Republican presidential campaign as he vowed to halve energy costs within one year.

Click here to read the full Associated Press report.

The post Trump Says Tariffs on Canada, Mexico are Coming Saturday first appeared on RVBusiness - Breaking RV Industry News.

PHOENIX – Cavco Industries, Inc. (Nasdaq: CVCO) today (Jan. 31) announced financial results for the third fiscal quarter ended Dec. 28, 2024.

Quarterly Highlights

• Net revenue was $522 million, up $75 million or 16.8% compared to $447 million in the third quarter of the prior year, primarily on home sales volume growth.
• Home sales volume is up 21.6% and capacity utilization is up to approximately 75% from approximately 60% in the third quarter of the prior year.
• Factory-built housing Gross profit as a percentage of Net revenue was 23.6%, compared to 22.4% in the prior year period.
• Financial services Gross profit as a percentage of Net revenue was 55.5%, compared to Gross profit of 36.8% in the prior year period.
• Income before income taxes was $69.3 million, up $25.4 million, or 57.9% compared to $43.9 million in the prior year period.
• The effective tax rate was 18.6% with the difference from the statutory rate driven primarily by higher than expected production of Energy Star homes year to date.
• Net income per diluted share attributable to Cavco common stockholders was $6.90, up 62%, compared to $4.27 in the prior year quarter on higher Factory-built housing volume and stronger Financial services results.
• Backlogs totaled $224 million at the end of the quarter representing 6-8 weeks of production.
• Stock repurchases were approximately $42 million in the quarter.

Commenting on the quarter, President and Chief Executive Officer Bill Boor said, “Our pre-tax profit improved significantly on increased home shipments and a strong recovery in Financial services. The outstanding EPS performance was further boosted by positive tax items and our continuing use of buybacks to manage the balance sheet.”

He continued, “While the third quarter is typically strong for our insurance operation, pricing and underwriting improvements implemented earlier in the year came to fruition and led to one of the strongest Financial services quarters in several years. In Factory-built housing, we executed our plan to utilize backlogs to ramp up production in anticipation of continued market improvement. Across the board, we are very well set-up going into the new calendar year.”

Click here to read the full quarterly report.

The post Cavco Industries Reports Fiscal 2025 Third Quarter Results first appeared on RVBusiness - Breaking RV Industry News.

As the Trump administration rushes to cut spending and eliminate federal jobs, even the people who work at the national parks — among the country’s most beloved and least politicized institutions — find themselves directly in the crosshairs, according to a report by the Los Angeles Times.

Last week, the seasonal workers who staff 433 national parks and historical sites, including Yosemite, Death Valley and Joshua Tree, began receiving emails saying their job offers for the 2025 season had been “rescinded,” with little further explanation.

The move set off panic in the ranks of park employees, and threw into limbo the vacation plans of hundreds of millions of people who visit the parks each year. On the chopping block are hundreds — and potentially thousands — of park rangers who respond to medical emergencies, as well as visitor center employees and the crews that clean bathrooms and empty garbage cans.

In many of the larger and most popular parks, seasonal workers outnumber year-round permanent employees, making it hard to imagine how the parks will function without them, according to one supervising ranger who asked that her name not be used for fear of retaliation.

“To me, it’s unfathomable that we would be able to run a large park without the seasonals,” she said. “They’re essential; they run the parks on an operational level.”

Click here to read the full report by the Los Angeles Times.

The post National Parks Feeling Impact as Trump Cuts Federal Jobs first appeared on RVBusiness - Breaking RV Industry News.

The shifting political landscape under the incoming presidential administration presents both challenges and opportunities for the RV and outdoor recreation sectors, according to a News & Insights report by the RV Industry Association (RVIA).

RVIA has added a policy-focused panel to the 2025 Leadership Conference schedule. The panel, titled “Navigating Change and Advancing Policy Priorities,” is scheduled for Thursday, March 6th, from 11-12 PM. 

Moderated by Jason Rano, Vice President of Government Affairs at the RV Industry Association, the panel includes: 

• Jess (Wahl) Turner, President of the Outdoor Recreation Roundtable
• Mark Weller, Shareholder at Polsinelli Law Firm
• Cliff Costa, Vice President at California Advocates

The panelists will share an in-depth analysis of how they work to keep the industry’s priorities front and center and push them over the finish line. 

The discussion will also explore how the industry works with state and federal officials when they are often at odds with each other like the push and pull between California’s progressive environmental policies, which often set the tone for national standards, and the new federal direction and what that means for manufacturers, outdoor recreationists, and policymakers alike.

Note that the deadline to book a hotel room is Friday, Feb. 7. 

Click here to register for the RVIA Leadership Conference.

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