Camping World Chairman and CEO Marcus Lemonis repeatedly has said he believes RV consumer demand is finding a new plateau. In a call discussing the company’s latest earnings, Lemonis said the industry is “here to stay, but in a different way.”
RVIA reported wholesale RV shipments totaled 430,412 in 2020. The shipments were the fourth-highest total in the industry’s history. In 2017, RVIA reported a record 504,599 wholesale RV shipments.
Lemonis said future years could be much, much higher.
“We think with the development of new smaller, lighter products in the van life, the B vans, hybrids and a variety of other products, that the 500,000 shipment (total), we should be laughing at years from now,” he said. “We should be laughing at it.
“We believe that this industry in the next decade should be making 1 million RVs a year. And that is still a scratch as it relates to the penetration of 330-plus million people. I know it sounds like a lot for an industry that was small many, many decades ago.”
Camping World, the country’s largest RV dealer, expects to have difficulties procuring inventory the next three to four months, Lemonis said. Consumer demand, however, remains brisk.
“If I showed you our demand and our leads on a daily basis, they are stunning,” he said. “And we are frustrated by our inability to take care of every single customer that wants to buy an RV.”
Supply chain concerns are making replenishment difficult, Lemonis said, adding that RV manufacturers are working to catch up. March shipments, according to RVIA, totaled 54,291, the most in any month in industry history.
“I think, ultimately, demand is clearly materially outpacing the manufacturer’s ability to produce,” Lemonis said. “I think we are dealing with manufacturers, at least on our end, that are responsible in the way they are growing. They are thoughtful in the kind of products they are making. They are being considerate to the quality of the units. And when you look at Thor, Forest River and Winnebago, their reputations rely on them making really good products.
“As we get through the balance of the year and materials start to come back in, we will pick up the pace again. But the current infrastructure will need to be built. So I would imagine that in the boardrooms of those three companies, they are already talking about building new factories and building new facilities, but they are doing it in a way that is responsible and thoughtful to the quality of the unit and the innovation.”
