The Luxury Land Yacht aka RV Industry is in Trouble!

(Image Credit: Gemini)

I have never stepped foot in an RV. But the tow RVs intrigue me. Two facets I think I would love.

1. Being able to move around premium camp sites across the U.S. and following moderate climates

2. Pick up and move whenever I want, especially if the neighbors are wackos

(UPDATE)

Patrick Industries and LCI Industries to Combine in All-Stock Merger, Creating a Premier Platform Serving Global Outdoor Enthusiast, Housing and Other Markets.

Both companies are already the largest suppliers in the RV industry, producing a vast array of components ranging from chassis and furniture to plumbing, electrical, and transport materials

The merger is expected to face heavy oversight from the FTC.

Could potentially limit innovation and increase prices for manufacturing and thus consumers.

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RV Headwinds

• Interest rates too high for financing an RV

• Consumer confidence is waning

• Over supply of RV units after the Covid demand boom

• RV Warranties sometimes take months for repair

• Dealerships have backs against a wall. After 90 days of inventory sitting their finance costs starts increasing for those land whales sitting on lot

• Build quality concerns

• Higher Gas prices and general inflation

• Possibly being forced into close quarters with your partner for long periods

RV Tailwinds

• Gas prices will hopefully come down soon

• Demographics. The onslaught of boomers who will want to downsize and maybe choose an RV over a 55+ community

• Unaffordability of homes and their carrying costs

• Possibly being forced into close quarters with your partner for long periods

RV Manufacturers (Larger Public companies)

• THOR Industries, Inc. (THO)
  Brands: Airstream, Tiffin, Jayco, Thor Motor Coach

  • YTD: Down ~25.9%

  • Past 12 Months: Down ~16.2%

    

• Winnebago Industries, Inc. (WGO)

  • YTD: Down ~24%

  • Past 12 Months: Down ~22%

  • Context: A recent Fiscal Q3 2026 earnings miss and down-revised guidance have locked in these double-digit losses across all tracking platforms.

    

• Berkshire Hathaway Inc. (BRK.B)

  • YTD: Down ~2.7% to 2.9%

  • Past 12 Months: Up ~0.8%

  • Context: Berkshire Hathaway, under Warren Buffett’s leadership, has a significant stake in the recreational vehicle (RV) industry through its subsidiary, Berkshire Hathaway Automotive. The portfolio includes well-known manufacturers such as Winnebago Industries and Airstream, acquired in 2018 and 2006, respectively. Additionally, Buehler’s RV Center serves as a dealership group, connecting consumers with Berkshire’s RV brands. While operations are mostly independent, these companies benefit from the financial backing and strategic direction provided by Berkshire Hathaway.

    

RV Retail & Parts

• Camping World Holdings, Inc. (CWH)

  • YTD: Down ~51.6%

  • Past 12 Months: Down ~55.6%

  • Context: CWH remains heavily shorted and heavily impacted by high debt interest rates and inventory pressures, showing the deepest steep cuts in both YTD and 1-year views across all three aggregators.

    

• LCI Industries (LCII)

  • YTD: Down ~15%

  • Past 12 Months: Down ~29%

    

• Patrick Industries, Inc. (PATK)

  • YTD: Down ~20%

  • Past 12 Months: Down ~4% to 15% (highly volatile depending on daily moving averages)