RVIA Economic Impact Study

The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.

Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .

Wells Fargo Acquires GE Capital's CDF

Mon Aug 1, 2016

MELBOURNE, Australia - Wells Fargo has announced it has completed the purchase of the Australian and New Zealand segments of GE Capital’s Commercial Distribution Finance business. The acquisition includes CDF assets, and 123 team members across five sites in Australia, along with CDF assets and seven team members across two sites in New Zealand.

“CDF has a long history of serving customers in Australia and New Zealand and those countries remain strategic markets in Wells Fargo’s international business model,” CDF Business Leader Simon Beckett says, who leads the company in Australia and New Zealand. “We’re excited to be part of the Wells Fargo brand, and continue to provide our customers with excellent service and support.”

Wells Fargo agreed to purchase GE Capital’s CDF and Vendor Finance platforms as well as a portion of its Corporate Finance business. Wells Fargo completed the purchase of the North American businesses on March 1 and completed the Asia segment on July 1. The Europe, Middle East and Africa segment is expected to close later this year.

As part of Wells Fargo, CDF will continue to serve dealers and manufacturers from a variety of sectors, including technology, marine, caravans, recreational products and outdoor power equipment, among others.

With this transaction, Wells Fargo International Finance, LLC is acquiring the CDF assets in Australia, and Wells Fargo International Finance (New Zealand) Limited is acquiring the assets in New Zealand.