Thor Industries CEO Bob Martin appeared on CNBC’s Mad Money this week after the large-scale RV manufacturer reported surprisingly strong Q3 financials.
Mad Money host Jim Cramer asked what might have led to Thor’s mid-pandemic earnings, and gave some good indicators for the future of the RV industry. Martin spoke to Cramer via a video call from one of Thor’s RV units.
“Right now, the lifestyle is something we’ve been pushing,” Martin said. “You’ve got affordable gas, you’ve got people that may not want to cruise for a while, they may not want to fly for a while and they look at this lifestyle a way to self-isolate and a way to spend time with their family.”
Cramer mentioned a growing trend in business owners and entrepreneurs turning to RVs as convenient workplaces in a time when some people may be concerned with going to the office. He said his daughter has been interested recently in purchasing an RV for that use.
Martin said Thor leaders are aware of that trend, and that it could easily be a big part of the RV industry going forward.
“They’re going out and they’re using it as a workplace. That’s a new thing that’s happening with people who don’t want to stay in hotels but still have to travel,” Martin said. “They might buy a little unit like this that’s very comfortable and has a good workspace, and their companies are encouraging it.”
Click here to watch Martin’s full segment on Mad Money.
