Lazydays Holdings, Inc. (NASDAQ:LAZY) Q2 2023 Earnings Call Transcript

John North: It’s competitive for sure. Certainly within the marketplace, we’re not the only retailer that’s aware of the opportunities in used and touting the benefits of trying to focus on it. That’s not lost on Lazydays. So everybody’s certainly working hard to find stuff. I think it’s an interesting time. You have some subset of consumers that bought the product in the pandemic that weren’t probably traditional RV-ers. And I’m sure some of them are, now that the world is, I guess, “more normal”, maybe looking to sell. I think the counterweight to that is that I think many of the people who are in the lifestyle and have been in the lifestyle might have upgraded in ’19, ’20, ’21. And in particular, if you were buying to model year ’20, ’21, ’22, you’re probably paying MSRP or more, and that’s certainly not where the market is today.

And you probably were potentially financing it in the 4s, and that’s not where the market is today. And so I do think there is some amount of probably longer hold periods in the future as it pertains to used just because I think a similar dynamic to what we’re seeing in the housing market, where given where interest rates have gone, people are looking at the relative ability to trade up and given the increased payment, they are deferring and just electing to stay where they are. And so I think some of that’s in play in the used market as well. And it’s going to take a little bit of time to work through that. But overall, I think there’s opportunities. We’ve seen an uptick in the number of trade-ins coming in our use side, which has been good to see.

And it’s like a single-digit percentage change. But nonetheless, it’s improving. So I think that’s healthy and very manageable.

Brandon Rollé: Great. Thank you.

Operator: Thank you. We reached the end of our question-and-answer session. I’ll turn the floor back over for any further or closing comments.

John North: Thanks, everybody. Have a great day.

Operator: Thank you. That does conclude today’s teleconference and webcast. You may disconnect your line at this time, and have a wonderful day. We thank you for your participation today.