New Consumers Driven To RV Lifestyle

A surge in outdoor activities because of the coronavirus pandemic fueled new interest in recreational vehicles, helping Winnebago Industries post solid results for its fourth quarter and fiscal year.

The maker of motor homes, towable RVs and travel trailers reported Wednesday that fourth quarter revenue increased 39 percent to $739 million.

Winnebago — based in Forest City, Iowa, but with its management offices in Eden Prairie — said some of that increase is tied to the acquisition of luxury motor home maker Newmar Corp. last November.

Absent the acquisition, though, the company’s revenue still increased 15 percent in the quarter, with the strongest performance in the towable RV segment.

“In the face of the unprecedented impacts of the COVID-19 pandemic, our strong fourth quarter finish to the year was a testament to the incredible resolve of our world-class team, the strength of our portfolio of leading outdoor lifestyle brands, and our efficiency in quickly and safely resuming operations to meet tremendous consumer demand,” said Winnebago Chief Executive Michael Happe in a news release.

The pandemic fueled a resurgent interest in outdoor pursuits and products from bicycles to motor homes. The RV Industry Association recently projected that total RV shipments across the industry for 2020 would be 424,400 units, a 4.5 percent growth in units over 2019, despite an industrywide shutdown of almost two months due to the coronavirus pandemic.

The industry group sees see the sales trends continuing into next year, projecting a record 507,200 units sold in 2021, a 19.5 percent increase over the projected 2020 total.

Check out the full article from StarTribune here.

Photo credit: Winnebago