2010 – 2011 Q1…Where are we headed?
We’ve wrapped up the first quarter and by all measures it was a dramatic improvement over Q1 2010 with growth ranging from 20-40% in all segments of the business. It’s not just a rebound from a bottoming in 2010. Some segments in 2010 were up 30-50% for the year. What’s driving this growth and can it continue?
We’ve done several things at Tiffin to drive growth. New product development is key…we’ve expanded the markets we are able to serve. We’ve sought out input from our customers on how we can better meet their needs. We have also gathered competitive intelligence to better understand our strategic advantage.
Where we thought, along with a number of economists, that the construction market was bottoming in 2010, it now looks like it is bottoming in 2011. New Housing starts in February hit an all time low. Thankfully, they showed some improvement in March. While further strengthening in the market is expected, it is anticipated to be slow in coming.
The current Poll on our website, asking about the outlook for 2011, shows the following results:
37% – more of the same
36% – slight improvement
14% – vast improvement
13% – worse than in 2010
We would like to get your insights and hear your thoughts on the markets. Feel free to respond or take the Tiffin Parts Poll on our website to weigh in on what you expect 2011 will bring!
Weird, Wacky Weather
Whether the weather has been good or bad depends on your perspective. Most would agree that it’s been a tough first six weeks of the year. I was in Alabama and Georgia last week calling on customers and got out the day before the snow hit! Of course, I came home to colder temperatures and more snow than most can imagine as you can see in the picture.
Hawaii was the only one of the 50 states that didn’t have snow last week, yet Vancouver had to truck snow in before the Olympics and with temperatures in the 50s, they have blossoms blooming on the trees.
On the good side, I did read the other day that over 92% of the US is now drought-free. This is the best it’s been since the early 1990s. Here’s hoping that it’s a sign of good things to come in 2010. As the weather clears, more equipment will be running which will be good for employment and in turn the economy!
How much impact does the weather have on your customers and the markets you serve?
A time to Reflect…and Help!
This past Sunday, I had the opportunity to attend a Dr. Martin Luther King, Jr. Day celebration. It was inspirational. Did you know that his birth name was Michael. His father changed both their names after a trip to Germany.
The beginning of the New Year is always a good time to reflect and with MLK Day following just a couple of weeks into the year, it offers a chance to help put everything into perspective. What’s really important in life? Giving back when you are able, to those less fortunate or in need, is something we can all do from time to time.
With the recent events in Haiti, I would encourage you to consider helping in any way you possibly can since we truly are all a part of one world community.
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