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CrossRoads Fifth Wheels Seville Kingston Cruiser Cruiser CTX Zinger 
Seville Kingston Cruiser Cruiser CTX Zinger -
CrossRoads Travel Trailers Cruiser CTX Zinger 
Cruiser CTX Zinger -
CrossRoads Ultra Lite Trailers Sunset Trail Slingshot Sunset Trail Expandable 
Sunset Trail Slingshot Sunset Trail Expandable -
CrossRoads Destination Trailers Hampton Zinger 
Hampton Zinger -
CrossRoads Park Models Westchester Tranquility Pinewood 
Westchester Tranquility Pinewood
Thor Industries selects GMAC as preferred retail financing provider
(TOPEKA, IN) - 4/12/2010
JACKSON CENTER, Ohio -- Thor Industries announced today that it has selected GMAC Financial Services as the preferred retail finance provider for its retail customers.
"Retail financing plays a major role in RV sales. Over the past 2 years, we have worked to maintain as much stability in our industry as possible," said Peter Orthwein, Thor chairman and CEO. "One of the benefits of this stability is seeing a leader, such as GMAC, supporting Thor Industries and entering a strong and growing RV industry."
GMAC plans to accept retail financing applications from Thor dealers for both new and used recreation vehicles within the next 45 days. This new retail finance business will launch in the following states: Alabama, California, Colorado, Florida, Georgia, Maryland, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington. GMAC plans to expand nationwide to all Thor dealers by the end of this year.
“The RV financing market is a natural extension of our auto business,” said GMAC President Bill Muir. “We have the infrastructure and servicing capabilities to add the RV business to our portfolio. Further, many of GMAC’s current and prospective auto customers are interested in using their vehicles to pull towables, so the new relationship with Thor brands makes a lot of sense for both our business and customer base.”
GMAC intends to hire current employees who manage Thor Credit services, including industry veteran Ed Arienti. Thor will continue to offer retail financing to its dealers until GMAC launches its program at which time Thor Credit will cease new loan activity.
“We are pleased to select GMAC as the preferred financing provider for Thor Industries, particularly as we seek to satisfy increased demand for our recreation vehicles with a positive sales and financing experience,” said Thor Chairman and CEO Peter Orthwein. “Thor dealers and their customers will benefit from having GMAC as a retail financing option.”
The U.S. RV market has been growing since mid-2009, and is expected to reach more than 215,000 units in 2010. Thor Industries currently holds 27 percent of U.S. RV market share. “The RV industry represents high-quality business and is currently under-represented by the financial community,” Muir said.
In addition to providing consumer retail financing, GMAC will offer remarketing services to RV dealers for used or traded-in recreation vehicles through its SmartAuction online site.
"The new relationship with Thor RV brands is a strong complement to our current vehicle financing business," said Muir. "We look forward to supporting many of our current auto customers who purchase recreation vehicles, while extending our services to all buyers of Thor RV products."
"With GMAC as our preferred retail financial services provider, we can help our dealers grow their business by providing nationwide access to competitive consumer financing," said Mr. Orthwein.
Topeka, Indiana, CrossRoads RV manufactures a wide variety of travel trailers, fifth wheels, and park models at five plant locations. Its products are distributed through dealers throughout the United States, Canada, France, Japan, and Australia. CrossRoads RV is a division of Thor Industries, Inc. More information on the company can be obtained online at www.crossroadsrv.com or by calling 888-226-7496.
