RV and boat maker Winnebago Industries has reported a $4.37 billion backlog as the demand for outdoor recreational vehicles continues to increase.
As per a report, Winnebago has witnessed record orders amid COVID-19 thanks to the support of Gen-X and millennial buyers.
The company, which manages brands like its eponymous RV business, a luxury motorhome brand, and two boat makers, saw $1.2 billion in revenues during the second quarter of 2022, a nearly 29% increase compared to the same time in 2021.
Revenues from Winnebago’s towable RV, motorhome, and marine segments were all up this quarter compared to the previous year.
However, if you’re planning to purchase a Winnebago vehicle as soon as possible, you might need to wait.
The company’s backlog of orders has increased as demands for its outdoor products continue to grow, while supply chain constraints continue to hamper production, Mike Happe, the president and CEO of Winnebago Industries, said.
Winnebago Industries’ towable RV backlog stands at $1.87 billion, motorhomes are now back at $2.21 billion, and marine products are worth nearly $278,000. Towable RV backlogs are recuperating the fastest. However, this isn’t the case for motorized RVs or boats, Happe said, predicting that supply chain issues will persist through 2022.
Keeping dealer inventories in all of our segments at acceptable levels throughout the fiscal 2022 year for our dealer partners is a key focus area for all of our teams,” Happe said.
The increasing backlog at Winnebago is in the same pattern as other major RV manufacturers. Since the beginning of the COVID-19, road travel vehicle manufacturers have experienced increasing orders.
In December 2021, Thor Industries reported an $18.07 billion order backlog and noted that dealers might not be fully restocked until 2023.
This story originally appeared on Business Insider.
It’s impressive to see Winnebago’s success extend beyond financial gains, with its commitment to sustainability and innovation in the recreational vehicle industry. The company’s proactive approach to expanding its product lineup and exploring new market opportunities truly reflects its dedication to meeting the evolving needs of modern RV and motorhome enthusiasts. This dedication to progress is praiseworthy and sets a great example for the industry as a whole.
Did you hear about Winnebago’s massive backlog? They might have to rent out RVs for office meetings! Seems like everyone, even the squirrels, wants a Winnebago for their outdoor escapades!
Given the rising demand for RVs, Winnebago Industries might want to check out other supply chain options to cut down on delays and tackle that big backlog. It could be handy to keep customers in the loop with timely updates on orders to build trust during these industry challenges. What do you think about this situation?