A worker installs graphics on an RV inside an East to West RV factory in Elkhart. RV shipments have rebounded sharply because of the coronavirus pandemic and are expected to set a new record in 2021. Staff photo by Robert Franklin
Even with a nearly two-month shutdown earlier this year, the RV industry is operating at full capacity and hoping to reach shipment totals of 424,000 units by the end of the year.
The turnaround is remarkable considering the industry was coming out of a somewhat sluggish 2019 that had many observers wondering whether a recession was on the horizon. According to the latest market analysis performed by ITR Economics, the industry is expecting this year’s shipments to surpass 2019 totals by 4.5%.
And even with the sizable rebound in 2020 — the fourth best annual total on record — ITR is predicting record-breaking shipments of 507,200 units in 2021.
In a fourth quarter financial report released recently, Elkhart-based Thor Industries said its sales and profits showed steady improvements as it emerged from the shutdown, and it has a backlog of about $5.75 billion in orders at the end of July, or nearly a year’s worth of annual sales.
Even with the reopening of most plants in May, it took until July for factories to reach full production since suppliers of materials, appliances and components needed to build RVs also were largely shut down because of the pandemic.
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