In the market for an RV? Now might be your moment—especially if you’re shopping used. With more late-model rigs hitting the market and brand-new motorhomes facing sluggish sales, manufacturers like Winnebago are being forced to rethink their lineups. The shift toward gently used and budget-friendly options is reshaping the RV landscape, giving buyers more leverage—and putting pressure on companies to adapt fast. In short, Winnebago is squeezed by used RVs.
Financial report shows Winnebago is squeezed by used RVs
Winnebago Industries released its financial results last week for the third quarter of fiscal year 2025 (covering March through May) (pdf). The numbers show a slight drop in sales and a more noticeable drop in profits—signs of an RV market still adjusting to a post-pandemic economy.
Winnebago made about $775 million in sales over the past three months, which is just slightly less than this time last year. But after covering all expenses, the company’s profit dropped sharply—falling from $29 million a year ago to $17.6 million now. That’s a 39% drop in what the company actually keeps.
If you own a share of the company’s stock, your earnings would’ve gone down from 96 cents to 62 cents per share. Even after removing unusual or one-time costs, profits were still down by about 26%.
The drop in profits came from several things working against the company: fewer motorhomes being sold, more customers choosing lower-priced RVs, and higher costs for warranty repairs. Winnebago did raise prices in some areas, but because more buyers are going for the cheaper models, the average selling price ended up lower overall.
More towables, far fewer motorhomes
Winnebago sold more travel trailers and fifth wheels this quarter, thanks in part to new, lower-cost models like the Grand Design Transcend and Winnebago Thrive. These were designed for people looking to stick to a budget, and they’re helping attract more cost-conscious buyers.
On the other hand, motorhome sales dropped. Dealers are keeping inventories lean while demand for high-ticket drivable RVs remains soft. Winnebago is trying to shift gears, with Grand Design moving into the motorhome space with its new Lineage Series, and Newmar rolling out updates. But executives say meaningful improvements in that segment likely won’t be seen until next year.
Good for RVers: Winnie—and the rest of the RV industry—pushed in the corner
A big part of the story in 2025 is the used RV market. Many buyers are turning to late-model used rigs, which are widely available after a pandemic-era buying boom. Those units, often gently used and priced well below new models, are offering tough competition for manufacturers. Winnebago is squeezed by used RVs—and it means something for RVers.
For buyers, this means more choice and potential value—especially as private-party sales and dealer-certified used RVs flood the market. For manufacturers like Winnebago, it means adjusting strategy: either compete on price, or focus on innovation and quality to stand out from the used inventory. That pressure is reflected in the growing emphasis on affordable new models and tighter production plans.
Despite its boats keeping it afloat, still $25M in the red
Winnebago’s boat brands—Chris-Craft and Barletta—continued to grow market share and posted strong profitability. The marine segment gave the company a needed boost, helping balance out softness in the RV market.
Winnebago spent more money than it brought in during the last three months, ending the quarter $25 million in the red when it comes to daily business operations. Right now, the company has about $10.5 million in cash on hand, but it also owes around $540 million in loans and other debts. That’s not unusual for a big company, but it’s not great timing—especially as profits are getting squeezed and costs are rising.
Winnebago’s business expenses went up a bit this quarter, mostly because the company is putting more money into expanding its motorhome division. But despite those efforts, the company’s overall profit from regular operations fell by 30% compared to the same time last year.
RVers, while Winnebago is squeezed by used RVs, opportunity knocks for buyers
For RV owners and shoppers, the current market offers both opportunities and complications. New rigs are trending more affordable, but the used market is giving buyers even more bargaining power. Meanwhile, dealers may have less new inventory on hand, especially in the motorhome category.
Winnebago is aiming to stay competitive by keeping production tight, rolling out refreshed products, and leaning into long-term strategy. But for now, RVers—especially buyers—may find the best deals off the lot rather than on it.
MORE ABOUT WINNEBAGO
- Motorhome sales drag down Winnebago profits
- Lawsuit accuses Winnebago and Grand Design of defective frames, misleading marketing
- Winnebago recalls motorhomes: Propane tanks may fall off
- RV review: Winnebago Revel Sport 44C—It’s what customers asked for
- Winnebago recalls trailers for stovetop fire danger
- Winnebago recall prompted by workers’ failure to follow procedures
RVT1216b
So our well kept MH should be fetching better prices on the used market and trade ins at the dealership.
The so called “big W” ruined Grand Design…they will never get any more of my money.
Thank you for the news, Russ and Tina! interesting that Winnebago and Grand Design were both mentioned, but not Newmar. Maybe I should check out the linked report. Have a great day and safe travels!
Neal, small mention in the article:
“Winnebago is trying to shift gears, with Grand Design moving into the motorhome space with its new Lineage Series, and Newmar rolling out updates. “
I’ve reviewed Newmar’s 2026 lineup. Higher prices. A few changes, but not earth shattering.
On our 900 mile round trip. It appears that RV dealers appear to have full lots. If the economy improves, perhaps things will change.
But the Covid inspired shopping spree is over.
Build it and they will come.. If they want really good sales.. build a better unit.Like run wires like one does in a home, not like the spider web now.. run better water lines.. use better nails for trim.. etc… this is not more costly in the long run, Because there would be less warranty callbacks etc
Not Nails, Quality screws……Longer holding-lasting.
I watch several dealers that sell Newmar, just for fun and to keep up. I am seeing solid sales turnover on late model used units. Many are being sold in under 30 days. New units, much slower. Some are even still sitting on new 2024’s with 2026’s in stock.
In Feb we went with a lightly used ’21 3545 New Aire with 14,000 miles. Very good negotiated trade value & unit price. It was a no brainer to go with a late model lightly used unit at over $265K price difference to a solidly discounted new 2025 unit that is really no different in feature, luxury, amenities, or function. After several trips, no issues.