Marine & RVs

Thor Industries Moves Into 2021 With Billions in the RV Backlog

It’s possible you’ve already seen news showing that the RV business is booming due to the pandemic. Social distancing and closure of many of our favorite places have encouraged many families to take to the open road. Road tripping, camper trips, and RV vacations have suddenly become a huge market for people looking to travel. Thor Industries RV company is one that is doing particularly well.

The exterior of a black 2021 Thor Motor Coach Tellaro Class B RV
The 2021 Thor Motor Coach Tellaro on display | Photo via Thor Industries

In fact, the company is doing so well that there are billions of dollars worth of backlog RV orders. According to RV News, “the company has a record backlog totaling $5.74 billion at the conclusion of its 2020 fiscal year.” Not only has the company done extremely well for 2020, but the Thor Industries RV backlog is full of orders yet to be filled.

What is a product backlog?

A product backlog is a list of orders that haven’t been filled. So RVs that have been ordered and are in production, or RV add-ons and work orders for that vein of work are all included. As it stands, Thor Industries RV has a lot of work to do. And there is no end in sight for the success it’s seen in the 2020 fiscal year. For folks looking to have an RV vacation, Thor Industries is prepared to deliver.

With a fourth quarter showing net sales of $2.32 billion, Thor Industries RV company is gearing up for another big year in 2021. This is huge for an RV business like this. This year, $1.55 billion for North American RV net sales and $739.9 million for European RV net sales mean the company’s global success skyrocketed. But by how much?

A Airstream Classic with a white cafe latte color kitchen area.
Classic kitchen area | Airstream

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2020 Thor Industries RV sales

In 2020, Thor Industries RV sales consolidated gross profit margin for the fourth quarter was 14.9 %. That’s a 0.5 percent improvement over 2019. But as of July 31, 2020, the RV backlog is increased 186.4 % compared with the year before. The amount comes in at $5.74 billion.

Thor President and CEO Bob Martin say that he is proud of the Thor Industries team. The company kept safety a priority through a difficult time. At one point during the global shutdowns, Thor had to close nearly every production facility both foreign and domestic. The RV vacation industry definitely looks like it would shake up a bit, but no one really knew whether it would be positive or negative. Then, sales began to explode.

RV motor coach in Spain with a family
Motor coach during the pandemic | Carlos Alvarez via Getty Images

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“Once again, our teams have demonstrated Thor’s resilience and ability to manage through uncertainty.”

Bob Martin | Thor Industries RV President and CEO

What brands does Thor Industries own?

Thor Industries is a conglomerate RV brand that owns a number of different brands. According to Thor Industries, the company chooses good brands to make the choice that much easier for customers. These brands include some popular names like Airstream, Dutchmen, and Jayco. In addition, the Keystone RV brand, Redwood, and––of course––Thor Motorcoach.

A motorhome RV drives down the exit ramp as travelers from France disembark from a Brittany Ferries ship
A motorhome RV | Leon Neal/Getty Images

In addition to these names in the RV world, Thor Industries also owns a long list of other RV businesses again. Among several others, Starcraft, Venture, Highland Ridge, Heartland, and Roadtrippers RV companies. This massive ownership is surely a large reason for Thor Industries RV company’s success this year. All of these brands come together to provide a place for consumers to shop for their next RV vacation. Read more about the companies that the Thor brand owns below.