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News for March 28, 2023

THOR Industries Research: Fuel Prices Have Limited Impact on RV Sales, Usage


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In what seems to be a confirmation of the long-term viability and growth of the RV lifestyle and industry, the new study of THOR Industries finds that rising fuel costs will have minimal impact on consumers’ likelihood to purchase an RV in the next five years.

According to a press release, the 2022 U.S. Camper Perception Study, which includes information from those who camped or glamped since 2020—80% percent of whom had an RV experience in the past two years—also indicates that rising fuel costs have a nominal impact on intended RV usage in the coming year.

The survey explores consumer RV purchase and usage behavior amidst rising fuel prices, as well as their perception of sustainability-focused organizations.

As an RV company, THOR will utilize the survey results, in conjunction with its portfolio of proprietary consumer research findings, to help guide key strategies, product innovation, and marketing efforts across the THOR family of companies, according to the release.

Key findings show that 67% of those who have RVed in the last two years reported rising fuel costs have increased their likelihood to purchase an RV in the next five years, or had no impact. Moreover, 69% reported rising fuel costs have increased their likelihood to use an RV within the next year, or have no impact. Also, 73% are more likely to purchase from companies with sustainable/eco-friendly manufacturing processes.

The study also reaffirms THOR’s investment in its global sustainability and innovation programs.  Having already achieved carbon net-neutrality across its European operations, THOR remains committed to being carbon net-neutral, globally, by 2050. Aligned with these goals,  nearly three-quarters of those surveyed are more likely to purchase from companies that utilize sustainable/eco-friendly manufacturing processes. In addition, 75% of respondents are more likely to purchase from companies with sustainable/eco-friendly products.

“As the leader in the industry, it’s important that we pursue and share data and insights about the evolving RV lifestyle including macroeconomic and consumer trends,” said THOR Industries President and CEO Bob Martin. “Our most recent study supports the strength of the RV industry amidst fluctuations in fuel costs. While we have long understood that consumers are not dissuaded from buying RVs by rising gas prices alone, it is important for us to keep the pulse of the expectations and views of our expansive and evolving user group. The data also confirms that our continued focus and long-term investment in sustainable manufacturing and products aligns with what campers and RVers are seeking.”   

The 2022 Camper Perception Report is the latest in THOR’s research strategy. Data derived from the research is leveraged throughout the THOR family of companies to help guide and inform strategic initiatives.

In addition, the research allows THOR to translate key insights to help shape priorities of THOR’s innovation strategy and to create forward-thinking, positive user experiences.

Recognizing the importance of marketing’s role in the company’s strategic business model, Renee Jones has been named Vice President of Marketing for THOR Industries, reporting to COO Todd Woelfer. 

Jones, being the head of corporate marketing for three years, will continue her role in the development and execution of the organization’s communication strategies, management of corporate partnerships, public relations, and strategic marketing, as well as working closely with marketing leadership throughout the THOR family of companies.

“Renee has led our team for the last three years and has done a remarkable job as we have managed through the challenging times caused by the pandemic. Through that time, Renee and her team have been a true strategic asset,” said THOR Industries COO Todd Woelfer.

Findings from the THOR 2022 Camper Perception Study can be viewed below and downloaded here.

About THOR Industries, Inc.

THOR Industries is the sole owner of operating companies which, combined, represent the world’s largest manufacturer of recreational vehicles.

For more information on the Company and its products, please go to www.thorindustries.com.

Featured image from THOR Industries.

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Modern Campground

Modern Campground

Modern Campground is the most innovative news source in the Outdoor Hospitality industry. We provide global news coverage for RV Park and Campground owners, operators, managers, and their team members.
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Hi, you might find this article from Modern Campground interesting: THOR Industries Research: Fuel Prices Have Limited Impact on RV Sales, Usage! This is the link: https://moderncampground.com/usa/thor-industries-research-fuel-prices-have-limited-impact-on-rv-sales-usage/