The Shyft Group reported motorhome chassis demand declined in the second quarter of 2023.
The company’s Specialty Vehicles division, which includes Spartan RV Chassis, saw sales fall 8% from the second quarter of 2022 to $87.6 million. However, margins held up despite the revenue drop.
The division totaled $17.4 million in adjusted earnings, up 35% from the second quarter of 2022.
President and CEO Daryl Adams said: “Entering 2023, we expected to see softening demand. However, in the second quarter, we have seen the demand decline accelerate and RV manufacturers have further reduced their production schedules in light of higher dealer inventory.”
Looking ahead, Adams said reports suggest significant improvement in the Specialty Vehicles markets in 2024. However, he said the company remained cautious about the outlook and adjusted its business accordingly.
