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 .
Thu Feb 15, 2018
Author: Jeff Thomas
Thor Industry’s new TH2 app —a digital platform encompassing trip planning and booking, remote systems monitoring, roadside assistance, peer-to-peer RV rentals and campsite rental— will be available to all manufacturers and consumers, and free to the latter, according to information from the TH2 program.
“The TH2 product does not require any hardware installation,” reads a statement from the TH2 program in response to RV News' request for more details on the partnership. “Our platform will be available to owners of any RV brand. The hardware required for TH2 product enhancements, like remote control/monitoring and theft tracking, is brand agnostic. We look forward to working with all RV manufacturers, and other partners, to create an enhanced experience for customers and dealers.”
Thor Industries, Inc., on Thursday announced a 50/50 joint venture for TH2 with Tourism Holdings, Ltd. to produce the inclusive RV app. Thor’s initial investment is expected to be approximately $50 million, including the acquisition of several technology-driven firms that will enhance the application and help expand its adoption.
“TH2’s product will be unique. Some of the services we offer are available in the marketplace, but there isn’t a holistic, integrated solution,” Thor states. “We believe this creates new opportunities for some of our closest partners.”
“There are a number of participants providing certain digital RV and travel services—however none of the existing services effectively provide a comprehensive RV focused solution,” Thor states. “TH2 will be a comprehensive platform that will bring the full benefits of digital connectivity and the sharing economy to RV enthusiasts, campsite owners and dealers around the world.”
The company notes the application is mostly software driven and said any OEM hardware that might enhance its application would be accommodated. However, creating another app that addresses hardware additions, such as fleet monitoring, might have a cost for OEMs.
“The TH2 platform does not require any OEM hardware installation. We look forward to working with all manufacturers to bring a TH2 experience to customers and dealers. At the most basic level, it’s an app that greatly simplifies RV trip planning and execution. More advanced features like remote control/monitoring and theft tracking will require equipment to be installed, either on an aftermarket or OEM basis."
While a $50 million initial investment might sound expensive to many OEMs, Thor President and CEO Bob Martin made it clear in Thursday's announcement that it was Thor’s place as the largest RV manufacturer in the world to step to the plate.
“As the world leader in the recreational vehicle industry, we are constantly evaluating ways to improve the overall RV experience for our customers,” says Martin. “Through this joint venture, we believe we can offer a variety of products and services that provide invaluable benefits, via digital connectivity, to an evolving consumer base. As the breadth of our consumer base continues to widen, with more and more younger consumers entering the market, we must provide them with innovative solutions to not only capture their interest, but also to retain them as lifelong customers.”