- Nov 2, 2019
Cummins is a worldwide business. Other economies around the world are slowing down. This represents a 3% reduction in worldwide headcount for Cummins. Very small. World economic conditions and automation most likely contribute to the decline.It all
adds upwith the Newmar sale to W, we know MH sales peaked. I didn't expect Cummins would be hit that hard as a side effect as I would think MH sales are a minor part of their business. With Cummins such a large provider of Diesel engines (and other things like Onan) I don't understand this cut.
It is a tough world out there in the industrial sector. New tariffs, uncertainty with trade agreements, a slowing economy and all the rest make it tougher. Being less than a year from a major election doesn't help either. This is just part of another cycle that we've seen throughout modern history.
This!We’re in a really prolonged bull market...gotta change sometime.
We WILL see a downward economic "adjustment" sometime in the foreseeable future. It is just a matter of exactly when. This is a "natural adjustment" in the economic world, and when these adjustments happen, one of the first hits is in "discretionary spending.
For those of us who are retired, the best defense is good financial planning and management that moderates the downturn. That's why we use a Certified Financial Planner with an excellent track record to help us reduce the risk and keep us diversified. That worked well for us in the 2007 fiasco, so we see no need to fix something that ain't broke.
Yes, we will see a market turndown again in the motorhome industry one of these days. The strong companies will survive by making smart financial and production choices; the weaker ones will go the way of the dinosaur. I'm betting that Newmar (aka Winnebago) will make the right decisions.
Great to hear! Market at this point reflects the same an thanks for the post.Looking at all the posts here back at the end of 2019 (above) it looks like everyone agreed that we were in for a recession, or at least a slow down. I sell class 2 thru 5 Cummins powered Ram commercial trucks in the Southeast. We also mount the bodies to go on them, like dump bodies, flat beds, service bodies, crane bodies, etc. 2019 was the biggest year I've had in the 8 years I have been with my company. I sold over 500 Rams with a value of about $27,500,000.00. I sold an additional $3,000,000.00 worth of bodies to go on them. Now we are in Sept. of 2020 and have had to deal with the COVID-19 pandemic almost all year. I've sold over 500 trucks again this year and have been COMPLETELY OUT of trucks several times due to plant closures, etc due to the virus. My body sales are over $500,000.00 over 2019. And here's the kicker...........my company put a travel ban on last March, so I haven't made a single sales call in over 6 months and yet my sales are above last year by a huge margin!! This economy is rocking and rolling despite what you're hearing on TV every night. Companies do not buy new equipment like this if we're headed into a recession.
Just wanted to give my personal experience.
Wow!2019 was the biggest year I've had in the 8 years I have been with my company. I sold over 500 Rams with a value of about $27,500,000.00. Now we are in Sept. of 2020 and have had to deal with the COVID-19 pandemic almost all year. I've sold over 500 trucks again this year and have been COMPLETELY OUT of trucks several times due to plant closures, etc due to the virus. My body sales are over $500,000.00 over 2019.