Tourism Holdings to shrink US fleet in bid to improve cash flow

Tourism Holdings to shrink US fleet in bid to improve cash flow
Paul McBeth
By Paul McBeth May 27 (BusinessDesk) - Tourism Holdings will shrink its US fleet by about 17 percent as the rental RV operator seeks to address an "unacceptable" performance from its North American business.  The company said the US vehicle sales market is in decline, and it estimates the volume of wholesale transactions is down 40 percent and retail sales are down 10 percent. What's more, heavy discounting is squeezing margins, something Tourism Holdings expects to continue to another 12 months.  "Despite the current market conditions...

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