Mark,
I can understand how you'd think that, but the factories always have some inventory which, for whatever reason, hasn't (yet) been delivered to dealers. In Monaco's case, there's also the unsold inventory they had to buy back from dealers.
FWIW when we visited Marathon Coach (Prevost bus conversions), across she street from Monaco in Coburg, they told me that 80% of their builds were spec, and only 20% were custom ordered.