Across the U.S., RVing continues to remain a popular option for people and families looking for fun and safe outdoor experiences. In fact, according to the RV Industry Association, RV shipments to dealerships in March 2022 were up 15.5% over March 2021. Though with the rise of popularity in electric vehicles (EV), more people are considering how their RV experiences can be more sustainable and environmentally friendly.
As automakers continue manufacturing more electric vehicles, emissions-free RVing may soon be on the horizon. Particularly as production ramps up on electric trucks and vans, the chassis designed for those can become the frame for motorhomes and RVs. In fact, earlier this year, RV manufacturers Winnebago Industries and THOR Industries announced major EV initiatives with fully electric products now in the testing phase.
Of course, one of the challenges for the industry is the limited range on electric vehicles. Winnebago’s e-RV will offer a 125-mile range, with a 45-minute charge time at high-current charging stations. The THOR Vision Electric RV provides a 300-mile range with a high-capacity battery pack and integrated fuel cell. While these will likely satisfy the majority of RV buyers, there may still be some range anxiety for those who want the freedom to explore across the country.
However, late last year the White House announced an electric vehicle charging action plan pledging $7.5 billion from a bipartisan infrastructure law to go toward increasing and improving the country’s charging network. On a national level, there is a lot of work being done particularly to improve access to charging stations in rural areas, public lands like state parks and national parks, campgrounds and other less accessible areas. Moreover, in July THOR announced a strategic investment in Dragonfly Energy, a producer of deep cycle lithium-ion batteries, providing RV users with an alternative energy-storage solution on the road and reaffirming THOR’s commitment to energy sustainability. As the network continues to improve and more charging stations are introduced, range anxiety may be reduced, paving the way for further adoption of electric RVs.
So how can RV manufacturers and dealers take advantage of floorplan finance solutions to plan for these new developments?
As electric RVs gain momentum, RV manufacturers and dealers may want to consider engaging a floorplan finance partner to help boost sales potential. With a floorplan finance solution, manufacturers can get electric RV equipment into dealer and distribution channels by offering comprehensive financing options to help them grow their businesses. And qualified dealers can leverage credit lines to finance purchases from manufacturers and increase their inventory without tying up capital.
With more than 50 years of experience, DLL understands the unique needs of manufacturers and dealers and offers tailored floorplan finance solutions to optimize cash flow and increase purchasing power. For more information, visit our Commercial Finance page.
