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The RV sector fell on Wednesday after Camping World (New York stock market :CWH) CEO Marcus Lemonis made cautious comments during a presentation at an RV show in Tampa, Florida. Bloomberg reported that Lemonis warned of current retail demand, new RV inventory levels and negative price trends.
Camping World Shares (CWH) -7.91%Thor Industries (THO) -5.05%LCI Industries (LCII) -3.75%Patrick Industries (PATK) -1.85%and Winnebago (WGO) -6.58% were all significantly lower at midday.
In its latest industry update in late December, trade group RV Industry Association said RV shipments continue to normalize from last year’s record highs and 2022 is shaping up to be the third year highest on record for RV shipments despite challenging macro factors impacting industry. and the economy in general. “The industry remains focused on serving our existing customers, many of whom have entered the RV lifestyle for the first time in recent years and are expanding the pool of consumers interested in purchasing a new RV. years to come,” noted RVIA CEO Craig Kirby. .
Rough road for RVs could impact RVeloCITY’s upcoming $10 million IPO (RGBO). The company bills itself as the Airbnb of RV rentals, with customers able to rent RVs from participating RV owners or hosts through the Rvelocity platform.
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