It isn’t just the Big 3 (Winnebago, Thor and Forest River) who are racking up billions of dollars of RV backorders. Major manufacturer REV Group announced this week that it has amassed a record $3.1 billion order backlog in 2021.
REV Group is the owner of the American Coach, Fleetwood RV, Holiday Rambler, Lance, Renegade RV and Goldshield Fiberglass brands in its Recreation Segment.
REV Group President and CEO Rod Rushing said the company is well-positioned for the future.
“Our record $3.1 billion (total) backlog combined with the significant progress we have made building our operational capabilities have positioned us well to continue to improve our performance and create shareholder value,” Rushing said.
REV Group’s net sales for the fourth quarter increased by 12.2 percent, driven mostly by the company’s motorized RV division. Retails sales at REV Group continued to outpace wholesale shipments almost across the board, even though dealer lot inventory sits at nearly 80 percent less than traditional peak inventory numbers.
The big order backlog in the fourth quarter was the sixth consecutive quarter that REV Group set a new backlog record. Backlog orders also continued to grow at other major manufacturers. Thor Industries reported last week that its backlog of RV orders was approaching $18.5 billion dollars.
REV Group motorized unit brands saw an increase in price during the fourth quarter, mostly to offset increases in the cost of materials and freight surcharges. Supply chain woes and labor issues also added to manufacturing challenges.