2024 Forecast Reveals RV Industry Set for Significant Growth: Shipments Projected to Hit 350,000

The RV industry is poised for significant growth in 2024, with wholesale shipments forecasted to reach 350,000 units. This projection comes from the Spring 2024 issue of RV RoadSigns, a quarterly forecast prepared by ITR Economics for the RV Industry Association (RVIA). 

“RV shipments are trending in the positive direction and on track for the moderate gains ITR Economics is forecasting in this latest report,” RVIA President & CEO Craig Kirby said in a News & Insights report of the association.

The anticipated range of RV shipments for 2024 is between 334,700 to 365,500 units, centering around a median total of 350,100 units. Such figures suggest an increase of 8.8 to 18.8 percent over the 2023 year-end total of 313,200 units, indicating a robust recovery and expansion within the sector.

“Our data shows a continued desire from consumers to purchase RVs and experience the joys and benefits of the RV lifestyle. We are hopeful that the expected decreases in interest rates and inflation this year will allow more consumers to follow through with their desire to purchase RVs,” Kirby added.

The report identifies several economic indicators that support the optimistic forecast for RV shipments. Notably, housing starts, which historically correlate with RV shipments, are expected to rise in 2024. 

Additionally, the expectation of lower interest rates could make RV financing more accessible to potential buyers. The combination of receding inflation and increasing incomes is also expected to create a more conducive environment for the purchase of discretionary items like RVs.

Members of the RV Industry Association have the opportunity to gain further insights into the forecast through a webinar hosted by ITR Economics. Scheduled for Thursday, March 14, at 1 pm Eastern, this webinar aims to provide an in-depth explanation of the forecast, allowing industry stakeholders to better understand the factors driving the anticipated growth.

The RV Industry Association’s efforts to provide detailed insights and forecasts through publications like RV RoadSigns and events such as the upcoming webinar with ITR Economics play a crucial role in supporting the industry’s stakeholders. For more information about the RV Industry Association, click here.

Article originally published by Modern Campground https://moderncampground.com/usa/2024-forecast-reveals-rv-industry-set-for-significant-growth-shipments-projected-to-hit-350000/

Viewpoint: Is IRS Abusing its Authority in Micro-Captives Investigations?

A pair of federal Tax Court decisions at the start of 2024 are painting a concerning picture that the IRS is abusing its authority and attempting to become a quasi-federal governing agency over the insurance industry. The IRS secured a pair of victories against a form of self-insurance for small businesses known as micro-captive insurance. The cases—Keating v. Commissioner and Swift v. Commissioner—used biased fact patterns to support the unfounded principle that all micro-captives are tax shelters or tax schemes.

Neither decision provided guidance nor clarification of how honest micro-captive owners should structure their captive arrangements to remain compliant with IRS regulations. Without such guidance, small to mid-size business owners are subject to open scrutiny at the whim of a federal agency attempting to seize regulatory control of an industry already regulated at the state level.

These victories are contrary to why the 831(b) tax code was written. Similar to what we are seeing today, this code was originally written during a time in which Americans were saddled by a hardened insurance market. Originally passed in the 1980s, Section 831(b) was designed to empower small to mid-sized insurance companies by excluding part of their income from taxation, allowing them to better compete with larger insurance providers and provide a vehicle of self-insurance against risks that may not be covered by insurance companies.

The 2015 Protecting Americans from Tax Hikes Act states that companies are eligible for this type of risk mitigation under Section 831(b) of the tax code when the owner of an insured business holds an interest in the insurer no greater than their interest in the business.

In January, IRS Commissioner Danny Werfel disclosed that nearly 1,100 micro-captives are under IRS investigation. Business owners and plan administrators who are caught up in these audits are then sifted through, with the IRS seeking only cases in which wins are virtually guaranteed. Instead of providing a conclusive determination for other taxpayers who can legitimately benefit from using an 831(b), the IRS uses its ambiguous scrutiny as a deterrent from using these plans, which in some cases can provide a lifeline to small to mid-size businesses.

The IRS has made clear its dislike of micro-captives and is working to eliminate them through its overreach of power and intimidation. This gross misuse by a bureaucratic agency directly contradicts congressional support for the existence of micro-captive insurance. To put it bluntly, the IRS is undermining the laws passed by our nation’s elected representatives and wants to put insurance regulation in the hands of the federal government.

In December, multiple members of the U.S. House Committee on Ways and Means Committee wrote to Werfel to express their disdain about the IRS’s treatment of micro-captives. The members of Congress called for the IRS to work with the insurance industry to develop a mutually agreeable path forward for small to mid-size businesses to utilize this section of the tax code without fear of retribution from the IRS.

The decision in Keating is concerning. In fact, the judge alluded to how the courts believed insurance companies should be regulated.

The McCarran-Ferguson Act of 1945 provides the framework for how the insurance industry is regulated in the U.S.— the federal government can define insurance for federal tax purposes but is prohibited from overreaching into the regulation of insurance, which is instead left to the individual states.

Without action from Congress, or the IRS backing off its assault on our industry, the overreach of power toward micro-captive owners will likely continue, along with its efforts to eventually obtain federal oversight over other parts of the insurance business. The question of overreach by the IRS isn’t a question of if it will stop, but rather a question of when and how. The ripple effects will have far greater implications on the insurance industry as a whole than anything else that may come of this IRS case.

Van Carlson is founder and CEO of SRA 831(b) Admin. He has more than 25 years of experience in the risk management industry and started his career with Farmers Insurance Group.

Article originally published by Insurance Journal https://www.insurancejournal.com/news/southeast/2024/03/27/766616.htm

April Newsletter

Spring has Sprung! This is our favorite time of year and not just because of the great April Fool’s pranks! It is our favorite because the weather changes, the return of baseball , The Masters tournament and it’s the unofficial start of our favorite season of all, Selling Season! 

Auto, Powersports and RV dealers all get excited for this time of year as customers get their tax refunds and head to their local dealership to indulge in a new purchase. Although there was a somewhat flat start to the year, optimism continues to build as more and more consumers are acclimating to the new norms of vehicle prices, interest rates, etc. 

Our markets have changed drastically over the last few years, and we are finding more and more dealers looking for ways to stay ahead of the curve, maintain COVID level profitability and maximize each transaction with as many products and profit as possible. 

At ADS, we pride ourselves on providing holistic solutions for dealers. Whether it be a dealer looking to mitigate the impending negative equity monsoon (see info and video below), a dealer looking to maximize their marketing and customer data spend (https://clientcommand.com/), a dealer looking to right size their reinsurance position after seeing a spike in loss ratio or a dealer looking to provide their sales staff an extra boost with some training and development solutions (see below for course registration), we at ADS have you covered. 

Of course, this in all in addition to our high-performance F&I training and development platform that we have been deploying and perfecting over the past 10-years. 

If you are a dealer who wants ‘More in ‘24’, then reach out to us to see if we are potentially a fit for what you are looking for. 

To view the full newsletter visit https://mailchi.mp/advdealer.com/april-newsletter-7ms0opj48u

Study Expects Auto Industry To Work Harder To Maintain Profits In 2024

The U.S. auto industry is entering a “new normal” where automakers and dealers will labor harder to maintain profits, a report by Dave Cantin Group and Kaiser Associates says.

During the COVID-19 pandemic, supplies of vehicles on dealer lots fell. That meant higher vehicle prices and increased margins for automakers and dealers.

That is likely to shift this year, according to the report.

“The U.S. automotive industry has had an exceptional last few years,” the report said. “Indeed over the past 3+ years it seems like everyone won – everyone, that is, except the consumer (who has paid higher prices for fewer choices, longer lead times and more competition to get a vehicle at all.)”

In 2024, industry’s new normal “won’t look quite as attractive as it did in 2023, but better than it did (for manufacturers and dealerships) in 2019,” the report said.

Dave Cantin Group and Kaiser conducted interviews with industry analysts and executives as well as surveying more than 1,000 consumers.

Among the factors cited by the report as having an impact on the industry:

—“The economic climate in the U.S. is healthier than predicted going into 2024 – but a positive macro economic climate increases the complexity facing the industry.”

Interest rates may begin to decline later this year after efforts by the Federal Reserve to curb inflation. In turn, dealers may need to boost inventory and increase advertising spending, according to the report.

“Dealerships should expect to work harder to maintain profitability in 2024,” the report said.

At the same time, declining interest rates “are likely to unlock pent-up demand, resulting in greater vehicle sales.”

—Consumers surveyed are more likely than ever to buy SUVs. Of respondents, 44% said they want an SUV for their next vehicle.

“Consumers may be moving toward SUVs because of reliability, versatility, and safety, despite higher price tags,” the report said. “This shift may also align with brand preference: some of the brands consumers are most likely to buy are primarily known for SUVs.”

Automakers, including General Motors Co., Ford Motor Co., Toyota Motor Corp. and Nissan Motor Co. have retired car models over the past several years. Ford, for example, said in an April 2018 earnings announcement, that 90% of its North American vehicle fleet would be trucks, SUVs and commercial vehicles by 2020.

The report said increased SUV deliveries will mean higher revenues and profits, according to the report.

—International situations such as U.S.-China tensions and Middle East conflicts could still disrupt the industry. “Geopolitical conflicts could drive a U-turn on consumer sentiment” and lower the willingness of automakers “to make strategic investments,” the report said.

Article by Bill Koenig published by Forbes https://www.forbes.com/sites/billkoenig/2024/02/26/study-expects-auto-industry-to-work-harder-to-maintain-profits-in-2024/?sh=15255fcb433f

March Newsletter

Welcome to March, everyone! Let’s all hope it comes in and goes out like a lion in terms of sales!

This year’s NADA was fantastic for the ADS leadership team. It was the busiest, most productive, and most enjoyable NADA we can recall. Despite some of the negative outlook for our industries’ sales this year, the overall sentiment was positive, and downright palpable.

We met with many of our valued vendor partners and found time to break some bread with a few of our cherished dealer partners. While in our meetings, we were introduced to several new and exciting programs, and we are excited to roll out to our dealer network in the coming months.

While at NADA we heard dealers talk of ‘cutting back’ on expenses, or ‘trimming the fat’. One of our takeaways from the convention is that there is room to improve on efficiencies and profitability in the stores. When working with the right partners, there are several ways to grow sales, F&I profitability, service retention, and reinsurance results with minimal time investment. Are you ready to investigate a better way of doing business? Give us a call to learn more about how ADS can help you recapture some of those lost profits.  

In the next couple of months, the team at ADS will be hard at work putting together and hosting a couple of first-class sales and sales management training classes. Be sure to subscribe to our LinkedIn page as well as our YouTube channel to stay up to date with all things ADS.

Also, ADS has officially entered the risk management business and we are currently providing competitive quotes for dealers on their commercial insurance needs. We are deploying the same truly independent, dealer-first mindset when it comes to preparing the proper package of coverages and premiums. Reach out to your ADS representative to learn more. 

To view the full newsletter https://mailchi.mp/advdealer.com/march-newsletter-aswoa5ppxr

History of Mardi Gras

When Is Mardi Gras? 

Mardi Gras is traditionally celebrated on “Fat Tuesday,” the Tuesday before Ash Wednesday and the start of Lent.  In many areas, however, Mardi Gras has evolved into a week-long festival. 

Mardi Gras 2024 will fall on Tuesday, February 13.

What Is Mardi Gras?

Mardi Gras is a tradition that dates back thousands of years to pagan celebrations of spring and fertility, including the raucous Roman festivals of Saturnalia and Lupercalia.

When Christianity arrived in Rome, religious leaders decided to incorporate these popular local traditions into the new faith, an easier task than abolishing them altogether. As a result, the excess and debauchery of the Mardi Gras season became a prelude to Lent, the 40 days of fasting and penance between Ash Wednesday and Easter Sunday.

Along with Christianity, Mardi Gras spread from Rome to other European countries, including France, Germany, Spain and England.

What Does Mardi Gras Mean?

Mardi is the French word for Tuesday, and gras means “fat.” In France, the day before Ash Wednesday came to be known as Mardi Gras, or “Fat Tuesday.”

Traditionally, in the days leading up to Lent, merrymakers would binge on all the rich, fatty foods—meat, eggs, milk, lard and cheese—that remained in their homes, in anticipation of several weeks of eating only fish and different types of fasting.

The word carnival, another common name for the pre-Lenten festivities, also derives from this feasting tradition: in Medieval Latin, carnelevarium means to take away or remove meat, from the Latin carnem for meat.

New Orleans Mardi Gras

The first American Mardi Gras took place on March 3, 1699, when French explorers Pierre Le Moyne d’Iberville and Sieur de Bienville landed near present-day New Orleans, Louisiana. They held a small celebration and dubbed their landing spot Point du Mardi Gras. (Some argue the port city of Mobile, Alabama was actually the first to observe the event.)

In the decades that followed, New Orleans and other French settlements began marking the holiday with street parties, masked balls and lavish dinners. When the Spanish took control of New Orleans, however, they abolished these rowdy rituals, and the bans remained in force until Louisiana became a U.S. state in 1812.

On Mardi Gras in 1827, a group of students donned colorful costumes and danced through the streets of New Orleans, emulating the revelry they’d observed while visiting Paris. Ten years later, the first recorded New Orleans Mardi Gras parade took place, a tradition that continues to this day.

In 1857, a secret society of New Orleans businessmen called the Mistick Krewe of Comus organized a torch-lit Mardi Gras procession with marching bands and rolling floats, setting the tone for future public celebrations in the city.

Since then, krewes have remained a fixture of the Carnival scene throughout Louisiana. Other lasting customs include throwing beads and other trinkets, wearing masks, decorating floats and eating King Cake.

Did you know? Rex, one of the oldest Mardi Gras krewes, has been participating in parades since 1872 and established purple, gold and green as the iconic Mardi Gras colors.

Louisiana is the only state in which Mardi Gras is a legal holiday. However, elaborate carnival festivities draw crowds in other parts of the United States during the Mardi Gras season as well, including Alabama and Mississippi. Each region has its own events and traditions.

Mardi Gras Around the World

Across the globe, pre-Lenten festivals continue to take place in many countries with significant Roman Catholic populations.

Brazil’s weeklong Carnival festivities feature a vibrant amalgam of European, African and native traditions. In Canada, Quebec City hosts the giant Quebec Winter Carnival. In Italy, tourists flock to Venice’s Carnevale, which dates back to the 13th century and is famous for its masquerade balls.

Known as Karneval, Fastnacht or Fasching, the German celebration includes parades, costume balls and a tradition that empowers women to cut off men’s ties. For Denmark’s Fastevlan, children dress up and gather candy in a similar manner to Halloween—although the parallel ends when they ritually flog their parents on Easter Sunday morning.

Article provided by History.com https://www.history.com/topics/holidays/mardi-gras.

February Newsletter

As this newsletter is being delivered, the ADS leadership team will be at NADA in Las Vegas. This year’s show is sure to be jammed packed with great meetings, time with some of our valued dealer clients, as well as meeting many new dealers interested in improving their F&I sales process and results.

It was two years ago when NADA was last in Las Vegas. During that show, EV’s were ALL the rage! There was so much talk and hype about EV’s and the demise of the ICE vehicles. It was the FUTURE, or that is what they wanted you to believe.

At that time, we published an article on our skepticism of the prognosticators certainty around the adoption rate of the BEV’s. This was met with some negativity when it came out, but we must remember that two years ago there were months’ worth of backorders for anything electric, so it was only fair to receive some criticism over our cautionary approach.

Now here we are entering another industry event and another manufacturer (Volvo) just pulled back funding on their EV program – much to the pleasure of Wall Street, as their stock surged 20% on the news.

So how did we go from all the rage to a mere footnote in just two years? Is it because the demand was artificial, the talking head CEOs were making statements to appease their investor base, or have we now had two years of real world experience to prove out a lot of the concerns we pointed out. Most likely, it is a combination of all the above.

Let’s be clear, there is a place for EV’s and there is some demand for them, but it is not NEAR what we were being led to believe. The EV market will continue to grow and may even see some significant growth (due to its relatively small market share currently), but the ICE based vehicles that have powered this country for over a century, may just be around for another century…

We hope everyone has a tremendous NADA show.

Events we will be attending:

NADA 2024 – https://www.nada.org/nada-show
Cleveland Auto Show – https://www.clevelandautoshow.com/

Good luck and Good Selling!

Sincerely, 
Bob and Ryan

Full Newsletter

ADVANCED DEALER SOLUTIONS WELCOMES DAVID DITGEN

Richfield, Ohio – Advanced Dealer Solutions is proud to welcome Dave Ditgen as Managing Partner.


Dave has over two-decades of experience working with auto, RV and powersports dealers with their risk
management programs and improving their F&I performance.


“Dave’s experience as a producer and regional sales manager for a large P&C and F&I provider make him
an ideal Managing Partner for us.”– says Bob Mancuso – President of Advanced Dealer Solutions.


“I have known the leaders of Advanced Dealer Solutions for years and am excited about the opportunity to
work and grow with them as well as build out a robust independent P&C offering.” – Dave Ditgen


“We are thrilled to have Dave and his vast P&C knowledge as part of ADS. We look forward to introducing
him to our current dealers where he will help them evaluate their risk management programs and
insurance needs.” – says Ryan Nelson – EVP of Advanced Dealer Solutions. Ryan went on to say, “We know
dealers need a truly independent voice, not just in F&I, but also in P&C offerings and we are confident
Dave will be that independent voice helping dealers place their insurance needs”.


Dave is based in Denver, CO and will be focused on building out ADS’ risk management and P&C services
nationwide as well as continuing to grow ADS’ F&I development business.


Advanced Dealer Solutions is a full service, dealer development agency focused on automotive, RV, and
powersports dealers across the United States. Please contact 844-320-3722 or [email protected] for any
inquiries.

ADS Welcomes Brandon Kerns

Richfield, Ohio – Advanced Dealer Solutions is proud to welcome Brandon Kerns as Director of Dealer Services.

Brandon has extensive experience in the automotive business ranging from F&I manager, controller, P&C producer, income development training and working with a floor plan provider.

“Brandon’s experience as a controller will be beneficial to dealers as he works with them to maximize their P&L’s by increasing sales, F&I production and reducing wasteful marketing spend.”– says Bob Mancuso – President of Advanced Dealer Solutions.

“I am excited about being able to provide dealers so many leading programs and services all with an unbiased approach and to have the world-class team at ADS supporting me.” – Brandon Kerns

“Having Brandon and his unique skillset gives our dealers another great resource to utilize as part of doing business with ADS.” – says Ryan Nelson – EVP of Advanced Dealer Solutions. Ryan went on to say, “Brandon’s attention to detail, his understanding of reinsurance and his knowledge of how stores operate, make him an ideal fit for ADS”.

Brandon is based in Denver, CO and will help support the growth of the ADS income development platform throughout the western states.  

Advanced Dealer Solutions is a full-service dealer development agency focused on automotive, RV, and powersports dealers across the United States. Please contact 844-320-3722 or [email protected] for any inquiries.

ADS Welcomes Kyle Reese

Richfield, Ohio – Advanced Dealer Solutions is proud to welcome Kyle Reese as Managing Partner.

Kyle has nearly 20-years of experience in the automotive industry ranging from working for a large TPA, being a partner in an agency and being a partner in an independent dealership group. His track-record for growth and success is unquestionable.

“Kyle’s experience as a dealer provides him a unique opportunity to help other dealers evaluate their current marketing programs, F&I providers, as well as many other key areas of their business.”– says Bob Mancuso – President of Advanced Dealer Solutions.

“I have known ADS for years and have been impressed with their leadership, professionalism, and vision. I am excited about the opportunity to play a significant role in ADS’s future growth and expansion.” – Kyle Reese

“We are ecstatic to have Kyle as part of the ADS team. His drive, values and purpose fully align with our mission and vision to help dealers achieve more through our independent platform” – says Ryan Nelson – EVP of Advanced Dealer Solutions. Ryan went on to say, “Kyle’s passion for helping dealers succeed is directly in line with ours and makes him a perfect fit for our team”.

Kyle is based in Columbus, OH and will be focused on growing the ADS brand in Central and Southern Ohio as well as Kentucky and Tennessee.  

Advanced Dealer Solutions is a full service dealer development agency focused on automotive, RV, and powersports dealers across the United States. Please contact 844-320-3722 or [email protected] for any inquiries.