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

Sun, 26 May 2019

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...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

On the Money

On The Money: 50 Cent Luxon, crime, cones and more...

PM took a police squad to Chemist Warehouse. Next stop: JB Hi-Fi with an army?

Dileepa Fonseka 5:00am

Fail File

The Fail File: Trish Clark, art expert and gallery owner

'Worrying is pointless and a waste of energy in a crisis'.

Victoria Carter 5:00am

The Fail File: Trish Clark, art expert and gallery owner

Opinion

Simon Robertson: Nike. Are they doing it?

Business models are incredibly important. Nike’s is flaying.

Simon Robertson 5:00am

Sponsored

NZ’s “terrible” statistic

Course aims to build employee resilience & business productivity.

Resilient Minds

Sponsored

Digital skills shortage hurting NZ

2degrees study: many companies failing to leverage technology.

2degrees

More Services

Services Free

SPQR owes more than $2 million

The first liquidator’s report on iconic Auckland restaurant SPQR shows the business owed more than $2 million to Inland Revenue and other creditors.The Ponsonby Rd establishment was placed into liquidation last Thursday by special resolution of the shareholders and is no longer t...

Staff reporters 18 Jul 2024