Goshen News, Goshen, IN

August 5, 2013

RV sales boom gives Thor record quarter


THE GOSHEN NEWS

ELKHART — Thor Industries Inc., the nation’s largest manufacturer of recreational vehicles, reported Monday record sales in its fourth quarter and a 19.6 percent gain for its full year.

Sales in the fourth quarter were $1.023 billion, up 15.2 percent from $888.2 million in the fourth quarter last year, according to the company. RV sales were $913.2 million, up 18.6 percent from $769.9 million in last year’s fourth quarter. Bus sales were $110.1 million, down 6.9 percent compared to $118.3 million in the fourth quarter last year. The company said the bus sales decline was primarily as a result of the sale of SJC Industries on April 30.

Full year

For the full year ended July 3, preliminary consolidated sales were $3.690 billion, up 19.6 percent from $3.085 billion last year, according to the company. Most of the sales increase was attributed by the company to the RV segment. RV sales were $3.241 billion, up 22.8 percent from $2.640 billion last year. Bus sales were $448.8 million, up 0.9 percent from $444.9 million last year.

The company said there was also an increase in RV order backlogs. As of July first the RV backlog amounted to $441.5 million, up 31.7 percent from last year.

Thor has divested itself from its bus segments, announcing just last week it would sell its remaining bus business to Allied Specialty Vehicles in Ocala, Fla. for $100 million. That sale will be reported in the company’s annual report to the Security and Exchange Commission in September, according to the Thor.

“Thor achieved record sales for fiscal 2013 as the continuing growth of the towable RV market was enhanced by the momentum in the motorized market. We are pleased with the strong fundamentals of the entire RV market and we are excited by the growth prospects in both towable and motorized RVs as we enter our new fiscal year,” said Bob Martin, Thor president and chief executive officer.