Jim Hammil leaving Roadtrek/Hymer?

[wincrasher]

I kinda doubt the incomplete inventory is sold. That's probably just a story for the employees. If inventory was used as collateral, the note holder may have called the loan or is repossessing the collateral. I scratch my head as to someone wanting to buy them and transport to another facility to complete them. Only Thor would probably have any rights to use the Hymer branding on any completed coaches.

[RossWilliams]

"" Only Thor would probably have any rights to use the Hymer branding on any completed coaches."

Right - my thought was that they were included in the sale to Thor. Thor doesn't want the North American operations, but I doubt Thor would be interested in Hymer brands being sold by someone else in North America. Its also possible Erwin Hymer is buying them which would be the same thing. Remember Erwin Hymer is a separate company from Hymer NA.

I don't know anything about the RV business, but I doubt the RV's chassis are used as collateral. There is no real suggestion that Hymer NA has a big debt to service in any of the stories.

Like I said, this is all speculation. But it does not appear to effect Roadtrek. It may be wishful thinking on my part, but the rumors of back orders and delays in special orders for Roadtreks does not really indicate that it is in any financial trouble. That seems to be wishful thinking by its detractors.

[gregmchugh]

Let’s see, we are up to 23 pages of speculation. How many pages can we complete before we find out the facts and actions that will be taken by Erwin Hymer and Thor...

[mumkin]

It would seem to me that if the rigs on the line have been "sold," the buyer would want completed rigs... not a factory full of partially built rigs.

On the other hand, a number of dealers today have told customers that warranty work is paused by the factory until next week while the inventory part of the audit is being completed. As someone who worked many years in accounting that makes sense. You can't do an audit while parts and equipment are being shuffled around a factory.

So... that might be what is going on at the Cambridge unit too. Just poorly explained or understood by the line workers.

There... that is my current speculation.

[booster]

Originally Posted by mumkin

It would seem to me that if the rigs on the line have been "sold," the buyer would want completed rigs... not a factory full of partially built rigs.

On the other hand, a number of dealers today have told customers that warranty work is paused by the factory until next week while the inventory part of the audit is being completed. As someone who worked many years in accounting that makes sense. You can't do an audit while parts and equipment are being shuffled around a factory.

So... that might be what is going on at the Cambridge unit too. Just poorly explained or understood by the line workers.

There... that is my current speculation.

This speculation actually makes sense!

[RossWilliams]

Originally Posted by gregmchugh

Let’s see, we are up to 23 pages of speculation. How many pages can we complete before we find out the facts and actions that will be taken by Erwin Hymer and Thor...

Not all of that is speculation. That 23 pages includes is a lot of rumors and misinformation.

[RossWilliams]

"On the other hand, a number of dealers today have told customers that warranty work is paused by the factory "

They lied. There are other customers who have had their warranty work approved.

[wincrasher]

Originally Posted by booster

This speculation actually makes sense!

I would speculate we have a few more weeks of speculation before we know anything definitive!

[rowiebowie]

Originally Posted by mumkin

So... that might be what is going on at the Cambridge unit too. Just poorly explained or understood by the line workers.

Whatever is going on, "poorly explained" is certainly the most inexcusable part of this whole mess.
.

[mumkin]

Originally Posted by RossWilliams

They lied.

Or not...

Speaking of rumor and misinformation...

[Bud]

Originally Posted by mumkin

Or not...

Speaking of rumor and misinformation...

I suppose that we don't really Know which dealers are making the wise, smart appropriate decision concerning warranties. But then maybe RossWilliams knows

Bud

[B-RV]

Originally Posted by rowiebowie

Wow, I hope that's not happening. Everyone just needs to step back and take a deep breath.

Financing should not be dependent on whether the warranty will be honored for the full term, since that is the only real thing in jeopardy for new RT owners. At this point warranty is a concern, but not a given.

Otherwise, US Bank should not have financed by 6 yr. old Airstream Avenue last yr. since it had no remaining warranty and GM is considering discontinuing the Chevy Express van it was built on.

Chassis producers and appliance suppliers aren't going anywhere so I don't understand it. And failure to finance would be certain death of Roadtrek. The only beneficiaries would be those with cash on hand to buy new models at rock bottom prices.
.

Banks finance on the perceived equity you have on the RV you purchase. A used Airstream has a book value the banks use as a guide to determine the value in case of default. This guide is used on both new and used. What's the value of a new Hymer IF the company goes BK in 3-6 months? It's a complete unknown, as dealers will be in a war to dump obsolete inventory. What was once worth 100k can become diminished by 50% overnight. It happened to both Monaco and Fleetwood not too many years back.
For the sake of Hymer NA employees and their families, I hope things work out for the best, as well as the customers who purchased in the past few years.
However, from a banks perspective, they got quite a spanking on RV loans back in 08 & 09 on Mfg.'s that went under, they will always walk cautiously when things are uncertain. Can you fault them? Heck, look around on RV trader, looks like a Hymer/Roadtrek fire sale is in the works as I type.
I've been told by one sales person his dealer will not accept any orders on the product, I must purchase from existing inventory.

[rowiebowie]

If prices for new models on dealer lots get slashed anywhere near 40%-50%, I'd be in the market. Would have to sell my Airstream Avenue for what I paid for it or maybe get a home equity loan, but I'd scrounge for the cash to get one at those prices. I doubt they'll go that low, but looks like there could be steep discounts for cash buyers.
.

[ponti33602]

I am not seeing things slashed on Agiles on RV Trader in my "just" now search. I am also not sure how they could. The chassis cost ~$40K...........unlike what many might think I can't imagine all that much profit is in these anyway....RT needs to make a profit as well as the dealer. I do suspect the dealer will just want to move them but don't think they will sell my $150K Agile when new for $75K.

Here is where we bought ours. We got a 20% discount on an in-stock unit. Was the best deal in the country I found and called and or mailed every dealer than had a van with the features my wife wanted. The one below is 23% off at Colonial with 400 Lithium.....nice price.

[ClassB4Me]

Originally Posted by ponti33602

I am not seeing things slashed on Agiles on RV Trader in my "just" now search. I am also not sure how they could. The chassis cost ~$40K...........unlike what many might think I can't imagine all that much profit is in these anyway....RT needs to make a profit as well as the dealer. I do suspect the dealer will just want to move them but don't think they will sell my $150K Agile when new for $75K.

I'm not seeing any price slashing as well on the Roadtrek Agile SS. However, I'm surprised Pleasureway is offering nice discounts ($120K sale price) on the loaded Ascent given they are a smaller company.

https://www.youtube.com/watch?v=fn1SKSo0TNA?t=26

Ascent @:25

[rowiebowie]

Love the Ascent. Just needs a modern compressor fridge (with 200a Lithium standard should not be a problem). I have a Novacool (Danfoss compressor) fridge in my Airstream Avenue that is very efficient. No problem running off two dinky lead-acid batteries.
.

[wincrasher]

Well in the last few years the discounts have gotten larger because of the obscene rise in prices across the board. Now they can afford to play the discount game to a certain degree with WGO and Coachmen.

[gregmchugh]

Originally Posted by mumkin

It would seem to me that if the rigs on the line have been "sold," the buyer would want completed rigs... not a factory full of partially built rigs.

On the other hand, a number of dealers today have told customers that warranty work is paused by the factory until next week while the inventory part of the audit is being completed. As someone who worked many years in accounting that makes sense. You can't do an audit while parts and equipment are being shuffled around a factory.

So... that might be what is going on at the Cambridge unit too. Just poorly explained or understood by the line workers.

There... that is my current speculation.

Mike Wendland reported that the production stop was due to the audit and it will resume after the audit of the inventory is complete.

[Glamper]

Originally Posted by rowiebowie

As we enter the third week of this situation, the silence is deafening. Not good for the Roadtrek brand, customers, and it's many employees who are looking for reassurance.

.

Apparently employees are being instructed to say Jim Hammill on 'medical leave' I bet he is. Maybe we should all send him get well cards.

[Glamper]

And one of the online chat reps, told me employees have to some inventory outdoors!! with sub zero temps hope they are getting additional hazard pay!!!