Heartland reports a 43.3 percent increase in 2009 market share
Wed Mar 10, 2010
Author: RV Industry
Source: Heartland press release
Greg Gerber posted on March 10, 2010 08:32
Heartland reports a 43.3 percent increase in 2009 market share
ELKHART -- In sharp contrast to an industrywide downturn in 2009 towable sales, Heartland Recreational Vehicles LLC reported today that it showed pronounced year-over-year gains punctuated by a 43.3 percent increase in overall market share growth.
According to Statistical Surveys Inc., the Elkhart, Ind.-based builder posted a significant 6.1 percent increase in unit sales while moving to the No. 4 spot among all towable builders for the year. Conversely, towable sales dropped 25.9 percent industrywide with the majority of builders incurring a decline in unit sales from 2008.
“In partnership with our dealers, we were able to find opportunities in what most people viewed as a stagnant and unstable marketplace,” said Brian Brady, president and CEO of privately-held Heartland, which launched production in 2004. “Instead of merely treading water, Heartland continued to stay on course with product research and development, and a continuation of our long-term strategy for disciplined, incremental growth.”
A sector breakdown from the Statistical Surveys report showed:
* For the full year, Heartland ranked solidly as the No. 3 fifth-wheel manufacturer with 11.3 percent of the overall market share – buoyed by a 19.2 percent jump from 2008 – while its luxury BigHorn line ranked No. 3 among all brands with 9.8 percent market share growth. During December, the company increased fifth-wheel market share from 12.3 percent to 13.2 percent. Industrywide, year-over-year sales in the sector dropped 29.9 percent in 2009.
* After entering the travel trailer sector in May 2008 with its lightweight North Trail Line, Heartland made significant strides last year to move into the upper tier of manufacturers with a 152 percent gain in market share and a No. 10 ranking. For December, the builder upped travel trailer unit sales by nearly 46 percent and improved market share from 2.5 percent to 3.4 percent. Industrywide, travel trailer sales fell 23.5 percent for the 12 months.
According to Brady, the company is geared toward making “tremendous impact” in the travel trailer sector in 2010 with the launch of three all-new brands at last year’s National RV Trade Show in Louisville, Ky., coupled with heightened demand for its North Trail brand.
“We are quickly establishing Heartland as a strong player in the some of the fastest-growing pockets of the travel trailer market,” Brady said. “That said, we will continue to grow and expand our offerings in the fifth-wheel market where in just over five years we have established ourselves as an industry leader.”
Brady also emphasized that Heartland’s 2009 performance positioned the company for deeper market penetration this year, and that strategies were in place to meet increased production and shipping demands.
“Our ability to gain ground in a down market has clearly positioned Heartland to make tremendous market share gains and further grow our dealer body in 2010,” he said. “Accordingly, we have acted in a proactive manner in terms of production strategy to make sure we are in step with demand – bolstering our work force, expanding our complex in Elkhart and making sure we will continue to deliver product at industry-best standards. Despite our rapid and remarkable growth, we are not being short-sighted, and are well-prepared for what is shaping up to be the best year in our history.”
SOURCE: Heartland press release
Posted in: RV Industry
