Tuesday, December 21, 2021

Ummm, RV Maker Thor Has An $18 Billion Backlog (THO)


There was a time, starting in Q1 2020 that ZeroHedge was highlighting RVs as a power in the U.S. economy.* I noted it and moved on to someone blathering about ventilators. (which may also have been ZH)

But now we see...Holy Hannah! People want their RV's.

From SupplyChainDive, December 16:

RV maker Thor finds new suppliers as chip, chassis shortages drive $18B backlog 

Dive Brief:

  • Thor Industries identified alternative suppliers in North America and Europe as ongoing shortages of semiconductors, chassis and raw materials doubled its global backlog of RV orders to a record $18 billion, the company said in its Q1 earnings report.
  • While the increase in RV deliveries outpaced the rest of the industry's growth rate in the quarter, the manufacturer said, the rising backlog reaffirmed the company's view that the dealer restocking process "could possibly extend into calendar 2023," President and CEO Bob Martin said in a statement.
  • Thor strengthened its supply chain with its $750 million acquisition of Airxcel, a supplier of RV appliances, windows, shades and other parts, in September.

Dive Insight:

RV supply chains face many of the same semiconductor, labor and chassis constraints as automakers and other industries. Winnebago Industries reported "a year's worth of demand" from dealers and a $1.5 billion towables backlog earlier this year.

*Some of the ZeroHedge headlines:
Meet The RVs That Are Literally "Driving" Our Country
RV Sales Just Hit An All-Time High
RV Boom Rolls Into 2021 With Record-Breaking ...