The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Wed Sep 28, 2016
Thor Industries solidified its position as the No. 1 maker of recreational vehicles and motor homes on Tuesday when it posted a record year for RV sales in its fourth-quarter fiscal 2016 results.
In an interview with Thor's CEO Bob Martin on Tuesday, the "Mad Money" host Jim Cramer noted that while housing levels are nowhere near where they were in 2006, RVs have surpassed levels achieved then. Martin attributed the rapid growth of RVs to consumer confidence and more wholesale and retail lenders in the RV space.
"That, along with just watching the younger buyers flock to the RV lifestyle, it really has helped to give our dealers the confidence to buy more inventory and to sell more at the shows," Martin says. "It has been definitely a positive for us."
Younger buyers normally are shopping for technology integrated into the RV experience, Martin says, along with features to make camping easier. Thor has competed by introducing new features into every one of its brands this year, including in its lineup at the RV Open House in Elkhart last week.
To view the interview segment on "Mad Money" with Martin and Cramer, visit http://www.rvnews.com/pages/video_library.