PROSPECTIVE grey nomads are shunning personal loans and forking out
millions of dollars in cash for their luxury RVs, according to Apollo
Tourism and Leisure.
"Very few use any form of finance," chief executive Luke Trouchet said.
During the last year, the global Brisbane-based company sold $139 million
worth of RVs including caravans, motorhomes and camper trailers, and
there's no sign of sales dropping.
Mr Trouchet told media that baby-boomer
retirees wanting to join the current army of grey nomad were ignoring
falling house prices to hit the road after finishing full-time work.
"The mindset is we've worked hard all our lives and we're going to enjoy
our retirement," he said.
Apollo will soon be using Windsor and Coromal
brands of caravan to help meet the demand for
RVs after buying their goodwill from
Perth-based Fleetwood Corporation for $1 million.
Apollo began its life in a Brisbane backyard shed when the Trouchet family
began hiring out its pop-top caravan.
The business quickly mushroomed into a major player in the rental market
and is now regarded as one of the largest RV operators in the world, with
more than 4000 vehicles.
It has interests in New Zealand, Canada, North America, Britain and
Ireland, and recently released financial results indicated continuing
strong growth in RV rental and retail sales revenue.
Rental revenue soared 66 percent to $136.7 million in the last financial
year while sales of new RVs skyrocketed 235.4 percent due to a 12-month
contribution from Sydney RV and Kratzmann Caravans, which Apollo bought in
February and June respectively last year.
Apollo also acquired WA retailer George Day Caravans and Motorhomes in
August last year.
