Lippert President and CEO Jason Lippert said the company’s formula for success is clear: OEM success drives aftermarket growth.
Jason Lippert pointed to the company’s Furrion air conditioners as a prime example. The company purchased Furrion in 2021.
“In 2022, our OEM share was less than 5% with virtually no aftermarket presence,” Jason Lippert said. “Today, just three years later, we captured over 50% OEM market share, and we expect more than $20 million in aftermarket air conditioner sales this year.”
Jason Lippert said innovations such as Furrion’s Chill Cube air conditioner, anti-lock braking systems, the 4K window series, sundecks and touring coil suspension systems continue to gain momentum. He said the platforms have reached a combined $225 million annualized run rate, more than double the $100 million they totaled two quarters ago.
“As our strong OEM content continues to fuel aftermarket growth,” he said, “the growth in OEM content directly fuels additional revenue streams, with increased demand for produce enhancement service in the aftermarket.”
Lippert delved into the RV aftermarket a decade ago. Jason Lippert said the aftermarket business continues to grow.
“For most of the products we launched, there is a meaningful aftermarket once we penetrate the OEM business,” he said. “We expect the aftermarket business to continue to grow, especially with the tsunami of units that were built in 2020, 2021, 2022 that likely are going to start hitting repair and replacement cycle here in the next couple years.”
Jason Lippert said there was enthusiasm for the new products the company introduced during Elkhart Extravaganza, with engagement from manufacturers and dealers.
“We expect a near-term uptick in units produced,” he said. “Our chassis orders in October are up roughly 275 to 300 units per week compared to prior months, an encouraging sign.”
