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Old 06-14-2009, 04:58 PM   #15
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Letsgo- there was another post about defunct CoachNet contracts being honored, and the announcement coming from Navistar-Monaco but a return address of Lake Havasu City, AZ (home of CoachNet). I'm guessing NavMon told CN they could honor the unpaid-for service to prior coach owners or they'd be dropped as a provider for NavMon products; there's a wild chance NavMon paid CN something, but I doubt it was much if anything beyond the promise.

This dealer could be in essentially the same shoes, being able to tell NavMon convincingly that sticking w/the Monaco brand, as damaged as it is and having been screwed to the brink of bankruptcy by past-and-now-current management, doesn't make sense unless they sweeten the pot. Unfortunately existing coach owners don't individually carry any current cash flow clout so as to stand in those shoes.

Country Coach's dominos fell another way. They told 4 biggie dealers they could have their own verry large trade areas to be exclusive dealers post BK, but the dealers declined, and maybe over this inventory-warranty problem. CC now sells factory direct only doing maybe 60 coaches per year. I can see dealers telling NavMon they'd push Tiffin and Thor and anybody else rather than NavMon if they stay in the screwed column and NavMon looking at 60 coaches per year with an unhappy look on their faces!!! I knew this would be interesting.
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Old 06-14-2009, 05:10 PM   #16
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I would be interested to know how many unsold new Monaco brand Coaches are still out there, either on Dealer Lots, Banks Holding Pens or Repo Auction Houses. It is going be hard to get the Dealers to buy more new units with existing unsold, unwarranted inventory.

On the other hand it is hard for the Dealer to compete with the Repo units that are going for 50% off. All that being said, the ecomomy still sucks and Banks are not interested in Financing Dealers or Consumers. If they do, I understand that they are starting to value the loans at 50% or less of MSRP.

This will make the subject of new economic and marketing text books.
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Old 06-14-2009, 07:38 PM   #17
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I got the info from a licensed GM commercial upfitter. He has always had trouble with support for GM MDT products, and he feels it will only get worse. So we'll see what happens.

Sorry, this is off topic, but was brought on by some similarities between GM and Monaco. I'll drop it now.

John
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Old 06-14-2009, 08:01 PM   #18
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[quote=Jim Stewart;513288]I would be interested to know how many unsold new Monaco brand Coaches are still out there, either on Dealer Lots, Banks Holding Pens or Repo Auction Houses. It is going be hard to get the Dealers to buy more new units with existing unsold, unwarranted inventory.

On the other hand it is hard for the Dealer to compete with the Repo units that are going for 50% off. All that being said, the ecomomy still sucks and Banks are not interested in Financing Dealers or Consumers. If they do, I understand that they are starting to value the loans at 50% or less of MSRP.
quote]

Actually, there is an ez SOLUTION.....

Add to the sale a BTB 50K service contract with a $50 deductable...

The most it will cost is $5K

Monaco making parts...
New "orphaned"MoHo @ 50% retail
PLUS
$5K for full warranty...

Problem solved... I don't think they will have a problem moving the "old" inventory...(As long as they realize they were s****d by Monaco and are GOING to lose money and accept that fact)

There is money to loan out there...its just that you have to have "sterling" credit.
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Old 06-14-2009, 08:12 PM   #19
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I don't know Mike, they probably were not suckered by Monaco with the CEO of Navistar having been on the Board of Monaco for years. He knew all the finances and in and outs.

I think they fully intended not to take the existing and inventory warranty liability. I also believe that is why they filed bankruptcy at Roadmaster. Monaco probably still owns the design rights, but they wanted out of the warranty costs.

The other manufacturers are running 5% of new current sales for warranty claims on prior sales. This is expected to remain at that rate or higher. It will be hard for any of them to make money going forward with the prior warranty costs of old inventory. Hence the reason (I believe) they decided on a clean start for Monaco.

I have heard that there may be as many as 1200-1500 Monaco related brand units sitting in various places. The entire market for new DPs is estimated to be somewhere less than 2,500 units this year.

The math doesn't look good.
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Old 06-15-2009, 05:57 AM   #20
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Navistar is a huge corporation but as a businessman I think they went into this deal partially blind. They knew all about the warranty liabilities but likely thought that owners would not "kick up a fuss" . I doubt they even considered that dealers might not be interested in selling their product. Big corps often think they are invincible! Financing would not be a problem as they have the ability to do that internally. I still think there is more to this story. Some of it will be fodder for investigative reporters and ambulance chasers. There is still an opportunity for Nav to make this right without investing 18 million as in the Fleetwood deal. The good publicity would be priceless. First they need to make some announcements that contain something more than wishfull thinking. At this point we actually know nothing. The warranty issues ( ours and the dealers who were unpaid) need to be addressd. I can think of a few ways this could be handled: provide a warranty with a deductable that would eliminate PIA claims maybe $500 or $1000. Or maybe a warranty that paid a % of the repairs (copay) They should include Roadmaster in this arrangement. All existing dealer claims that were approved should be paid with a copay as well. Those who bought units after the Chapter 11 and knew there was no warranty would not be a part of the above. However they could devise some sort of support that would pay in the case of serious repairs. Perhaps these newer owners could be offered a Prizm warranty with a big discount. Nav. could pick up the cost of some of the non covered repairs with a copay. IMHO this would appease the owners and dealers, limit the liabilities for Nav and create the most amazing publicity campaign for little cost. But perhaps I am living in dreamland!!!
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Old 06-15-2009, 10:28 AM   #21
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Quote:
Originally Posted by Moishe View Post
I still think there is more to this story. Some of it will be fodder for investigative reporters and ambulance chasers.
You're right, there is more to this story then you or I will ever know. After sitting there in the hearing you could just "feel" the screws being turned.

While some may think that consumers have short memories (you maybe right on this one) I for one have a very L-O-N-G and vengeful memory. While it's true that I've only been doing the RV thing for 2 years now, I have bought 2 NEW coaches over this time frame and figure I'll buy more before I finally hang it up....Now the question is will a Monaco be a product that I'll ever look at again? The answer to that will hinge on how Monaco/Navistar handles this claim I have. The one thing you can count on is that I will be VERY vocal on how it is handled. If Monaco/Navistar steps up to the plate and do the right thing, then I'll sing their praise, if not, I'll push for their damnation.

Before someone starts up about it just being business, I want to let you know that I am a business person, and I know just how important customer service is to your future. It takes 10 people saying great things about a company to off set just 1 person speaking bad.

While I have formed friendships with some of the "powers to be" at Monaco, I find it very hard to excuse what's going on out there.

Remember this, Navistar bought up the "cream" of Monaco for a "song", and it was a very SHORT song at that.

In closing, as of this moment, when I go to buy another coach I will be looking at the Marathon's, Newell's, or possibly the Newmar's.
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Old 06-15-2009, 10:36 AM   #22
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Didn't Obama say he'd back warranties to help the recovery? Maybe I'll submit my claims to 1600.
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Old 06-15-2009, 10:48 AM   #23
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Has anyone noticed that since Obama has taken office that gas has gone up about a penney a day? Why was it people were screaming for Bush's head on a silver plater, but not one person is screaming out for Obama's head.
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