Winnebago leadership spent time on Wednesday during a financial call with analysts discussing RV pricing and tariffs’ effect on the manufacturer’s prices to dealers and consumers, as well as overall inventory levels.
In the discussion, President and CEO Mike Happe spoke directly to dealers.
“We debate internally about whether we could force some more units into the market,” Happe said, “but for any of our dealers that are listening here on this call, we are trying to do the right thing by you. We are trying to make sure that our inventory, from a quality and a quantity standpoint, is in good shape.”
Happe said when the retail market recovers, Winnebago’s business will be better for the work done now to be disciplined in shipments.
“It probably contributes to some pressured financial performance here in the short term,” he said, “but we think it is simply the right thing to do to sustain a healthy business over the long term.”
Winnebago said the company is trying to mitigate $30 million to $40 million in tariff effects through its 2026 model year pricing. The result is an increase in sales pricing from low to mid-single-digit percentages, depending on the RV brand.
Happe said, “That cost increase is a base plus what we know today to be some of our tariff exposure.”
Winnebago is working with its suppliers to mitigate tariffs. Happe said less than 10% of its RV volume’s bill of materials originates from outside the U.S. He said the dollar exposure to tariffs is much higher.
“Motorized chassis is a good example of that,” he said, “with steel and aluminum, electronics, appliances and the like. That exposure is a little bit higher than I think people have thought it might be for us.”
Winnebago has released 2026 pricing for most of its businesses. Happe said the pricing reflects additional costs to cover the short-term tariff risk.
“As we sit here today…there remains a net tariff, unmitigated risk that we are working hard to reduce,” he said. “It comes from different countries. It comes from different components.”
