The RV Demand Continues

[lryrob9301]

From the Business JournalHome
Travel
A major RV maker now has more than $18 billion in backlogged orders and says its dealers may not be fully restocked until 2023

RV maker Thor Industries has a $18.07 billion order backlog.
Demand for RVs has remained strong since the start of the COVID-19 pandemic.
CEO Bob Martin says it may continue restocking its dealerships into 2023.

Famed RV maker Thor Industries now has an $18.07 billion order backlog as of October 31 as demand for tiny homes on wheels continues to remain strong through the COVID-19 pandemic, the company said in its 2022 first-quarter earnings report on December 8.
Thor Industries — which owns brands like Jayco and Airstream — first saw rising sales in May and June of 2020, especially from first-time RVers, Bob Martin, Thor's president and CEO, told Insider in May 2020. Since then, interest has yet to taper off: The RV maker achieved $3.96 billion in net sales in the first quarter of 2022, a 56% increase compared to the same time last year.
Thor has now reported record net sales for three successive quarters despite labor, cost, and supply chain "challenges," which it predicts it'll still continue to face, Martin said in the earnings report. However, the RV maker has been "pretty much sold out for the next year" as dealers have "virtually no inventory," Martin told CNBC's Jim Cramer on "Mad Money" in June.
"Independent dealer sentiment remains positive and consumer demand for our RV products remains strong," Martin said in the earnings report. "The dealer restocking process will still take a number of quarters to complete and could possibly extend into calendar 2023."
To alleviate this backlog, Thor Industries acquired Airxcel, an RV parts manufacturer. Martin called this acquisition a "key piece" in Thor's efforts to bolster its supply chain.
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[Cloud_Dancer]

I survived the 50's, and stuck in the 60's. At 82, it's easy for me to believe that the worst is yet to come. Meanwhile, I get a notice that I better upgrade to a 4G (mine's a 3G).

[Grit_dog]

Oh such doom n gloom! Lol
Y’all are too funny!

[larry_cad]

goducks10 wrote:
It's gotta be the worst time to get into RV'ing as long as I can remember.

Hang on! The worst is yet to come. So many factors working against the overall RVing community.

If you have been in RVing for more than 10 years, you are able to see all the changes that are taking place from beginning to end. I would be staying home except I don't have a whole lot of time to enjoy RVing. A real quandary to be sure. Costs are up and fun is down. Bring back the good ole days.

[goducks10]

There's a shortage of RV's from the smaller manufactures. Right now you can't get a lot of Lance, Outdoors RV or Northwood MFG trailers. The dealers near me that carry those brands have diddle on their lots. Out here in the PNW far away from Elkhart some of the big multi location lots are full of **** brands.
Lots of big cheap built 5ers and TT's like Sierra, Salem Lites or Arctic Wolf types.
Truck lots are all but empty as well. It's gotta be the worst time to get into RV'ing as long as I can remember.
And good luck getting any kind of a decent deal on an already overpriced RV.
Even 20% off MSRP is still more than the MSRP was pre covid for the same everything on the RV.

[ChuckSteed]

Camping World and Two Bish RV dealerships in Boise Idaho are packed to the gills with RVs... There isnt a shortage of available RVs and those that are being built on a scale of 1 to 5 rank about Minus 5 for their build quality...

I would not purchase ANY RV made from 2020 and newer right now

[pbeverly]

ajriding wrote:
The Georgia RV lots are full of new RVs. Shop around.

Picked up my camper yesterday after work was completed from tire blowout damage. The lot was PACKED with new units.

In Columbia, SC

[ajriding]

The Georgia RV lots are full of new RVs. Shop around.

[Cristian123]

lryrob9301 wrote:
From the Business JournalHome
Travel
A major RV maker now has more than $18 billion in backlogged orders and says its dealers may not be fully restocked until 2023

RV maker Thor Industries has a $18.07 billion order backlog.
Demand for RVs has remained strong since the start of the COVID-19 pandemic.
CEO Bob Martin says it may continue restocking its dealerships into 2023.

Famed RV maker Thor Industries now has an $18.07 billion order backlog as of October 31 as demand for tiny homes on wheels continues to remain strong through the COVID-19 pandemic, the company said in its 2022 first-quarter earnings report on December 8.
Thor Industries — which owns brands like Jayco and Airstream — first saw rising sales in May and June of 2020, especially from first-time RVers, Bob Martin, Thor's president and CEO, told Insider in May 2020. Since then, interest has yet to taper off: The RV maker achieved $3.96 billion in net sales in the first quarter of 2022, a 56% increase compared to the same time last year.
Thor has now reported record net sales for three successive quarters despite labor, cost, and supply chain "challenges," which it predicts it'll still continue to face, Martin said in the earnings report. However, the RV maker has been "pretty much sold out for the next year" as dealers have "virtually no inventory," Martin told CNBC's Jim Cramer on "Mad Money" in June.
"Independent dealer sentiment remains positive and consumer demand for our RV products remains strong," Martin said in the earnings report. "The dealer restocking process will still take a number of quarters to complete and could possibly extend into calendar 2023."
To alleviate this backlog, Thor Industries acquired Airxcel, an RV parts manufacturer. Martin called this acquisition a "key piece" in Thor's efforts to bolster its supply chain.
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Good info. I'm glad that I've found it. I've recently looked for the info about Thor Industries and found reviews of people who drive these RVs https://thor-industries.pissedconsumer.com/review.html I should say, I'd like to buy an Airstream Pottery Barn. It looks really good.

[Grit_dog]

cbshoestring wrote:


I know I wouldn't be willing to sleep across the backseat of a pickup for the amount they are taking home. I like the creature comforts of my 389 Peterbuilt Fitgerald Glider.

That is a nice little humble brag...gotta give you that.

[Planeteer]

We bought a brand new TT one year ago (in January) in Goshen IN. I live about an hour away.
Once we found what we wanted, I called dealer to confirm he had the model available. Then, we drove there and checked it out (me, wife, and kids). Dealer wouldn't budge a dollar on price. I offered full amount and we will take it home today, and he informed us that the TT we were standing in was already sold and it would be 2 MONTHS before he could get another.

I told him "no thanks, maybe we'll find another one on the drive home"
He called the next day and said he could pick up a new one from the factory in 2 DAYS, AND deliver it!

We have been happy with it.

[NJRVer]

jetboater454 wrote:
Stopped by a local dealer,maybe 30 units back in the day. He had 4 motorhomes-30' and up,10 travel trailers and 2 5th wheels. All different models. He got them all at a repo auction. Oldest was a 2019.

Hmmm.
Very interesting info there.

[jetboater454]

Stopped by a local dealer,maybe 30 units back in the day. He had 4 motorhomes-30' and up,10 travel trailers and 2 5th wheels. All different models. He got them all at a repo auction. Oldest was a 2019.

[cbshoestring]

I cross Indiana on a regular basis. The manufacture lots are full of new trailers waiting for delivery to retail lots. Could be, they are ALL waiting for that mysterious part sitting on a container ship. However, chances are they are having trouble getting them shipped to the individual dealers.

One ad on the Indiana Turnpike reads:
150-180cpm
enough said

Cut that ONE WAY FREIGHT in half, that immediately brings the trip down to 90cpm. After expenses, they have to be down to about 40-45cpm. Deduct what Uncle Sam and all his brothers and cousins want...not much going into that transporters pocket.

I know I wouldn't be willing to sleep across the backseat of a pickup for the amount they are taking home. I like the creature comforts of my 389 Peterbuilt Fitgerald Glider.

[nhshep]

The RV Market is like the housing market (based on location) if you want to sell your RV like selling your home, it is a sellers market. If you want to buy an RV like buying a home, depending on location in the country there can be an inventory shortage. We have a 2018 Prime Time crusader seasonal site. The campground has around 150 RV's, none are for sale at this time. Talking with the campground owner he said if we wanted to sell our RV on the site it was sitting on, we could get 30% more than what we purchased it for new. He said selling an RV that sits on a seasonal site for new owners to occupy is Gold. I see no end to Covid-19 in 2022. I forecast new strains like Omicron, some worse, some less potent, I think people will get used to significant deaths each year. Having 2 Covid-19 jabs every six months. This is not like the Polio situation of years past. RV sales will continue to rise, they are the ideal choice for families not wishing to stay in hotels/lodgings. Less social interaction but being able to get outdoors. Campgrounds can be an island of isolation with minimal social contact yet freedom to enjoy the local area as much as you wish to socialize or isolate. The public see what RV'ing has to offer.

[RetiredRealtorR]

After returning from 2 back-to-back trips, we saw nothing but relatively full RV sales lots. If there's a shortage, they're hiding it well.

I feel as though Thor's math might be a bit fussy. Perhaps someone should ask them, of this tremendous backlog of orders, how many are actual sold units (retail, with deposits in place) and how many are dealer inventory orders? BIG difference as I see it, but it creates the illusion for the potential buyer, especially the newbie, that if a unit is available, anywhere at any price, you'd better jump on it, or risk having to wait 'til the cows come home to buy one. Great (although somewhat deceptive) marketing.