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 .

Ally Financial Reports First Quarter Decrease

Fri Apr 28, 2017

CHARLOTTE, North Carolina - Ally Financial Inc. has reported its first quarter 2017 financial results, in which the net income was $214 million, a decrease of 16.8 percent, from about $250 million in 2016.

"In the first quarter, Ally continued to execute on its strategic objectives while navigating shifting auto industry dynamics and investing for the future," Ally Chief Executive Officer Jeffrey Brown says. "We posted solid profitability in the first quarter, but it fell short of our expectations of delivering strong year-over-year earnings growth given softer used vehicle values and higher insurance weather losses.

“We continue to approach the auto market in a thoughtful and cautious manner, and remain constructive with respect to market opportunities we see to further improve
portfolio risk-adjusted returns. We’re mindful of an environment where new vehicle sales are plateauing, used vehicle prices are declining and credit losses are increasing. These dynamics have been incorporated into our planning for some time, as well as our plan to deliver strong earnings growth given significant positive offsets such as increasing asset yields, creating a more efficient funding base and diversifying and expanding our consumer and commercial product mix.

“The Ally banking and deposit franchise continues to excel as we posted record first quarter total deposit growth of $5.5 billion, including $3.4 billion of retail. This consistent deposit growth adds customers to the Ally family, reduces the need to refinance high-cost unsecured maturities and remains an important driver of EPS

“We remain centered around our plan to deliver attractive long-term shareholder returns. Key ingredients include a 15 percent Adjusted EPS compound annual growth rate, 12 percent Core ROTCE, significant distributions to shareholders and demonstrating the value of the Ally digital banking brand through diversification and smart asset growth.”