But Michigan startup Grounded has released something we weren’t expecting at all. Its all-new T1 micro-camper is a live-in e-trike-powered tractor-trailer complete with standing height interior, 360-degree window array, and bed, dining and kitchen space for two people. Grounded claims it as a world first, and we don’t intend to argue.
As you might recall, Grounded is the force behind one of the U.S. market’s most striking electric RVs. Its BrightDrop/GM-based G2 is a sort of Class B+ camper van with up to 250 miles (402 km) of range. A $200K two-person motorhome built into a somewhat raw delivery truck isn’t everyone’s cup of tea, so Grounded is expanding with a much smaller, lower-priced electric camper option while it awaits the launch of additional electric van platforms in which to install its furnishings. And since its company concept is based around creating flexible camper modules readily scalable to a wide range of vehicles, dropping down to tricycle size isn’t as much of a stretch as it might sound.
On Thanksgiving Day, detectives say two suspects stole an RV at a gas station off South 64th Street and Pacific Avenue in Tacoma.
The couple says the owner of the gas station let them park their RV outside so they had a safe place to stay. They purchased the RV to live in after their home in Auburn burned down.
However, two days after the theft, police say the RV was left at the scene of a crash, and it was impounded by officers.
The couple wasn’t informed that their RV was recovered until FOX 13’s David Rose located it at Burns Tow Yard and notified them.
But when the couple went to pick their RV up, they ran into more trouble, being told to pay hundreds of dollars to get it back.
RIVERVIEW, Fla. — The Florida RV Trade Association (FRVTA) will host the 40th Annual 2025 Florida RV SuperShow Jan. 14-19. The Florida RV SuperShow will again be held at the Florida State Fairgrounds in Tampa, Florida.
Industry Day is Tuesday, Jan. 14, from 10 a.m. to 4 p.m. Registration is now open for Industry Day by visiting FRVTA.org or fill out the registration form here, https://form.jotform.com/42585523855968
The 2025 SuperShow will have representation from every major RV manufacturer as well as hundreds of accessory booths exhibitors. “We will have more Suppliers’ booths and every type, size and style of RV on the market,” said Executive Director David Kelly. “With the addition of new entertainment and more seminars, we’re anticipating record crowds this year. We’re also renewing the 2-day pass so the public will have two full days to see everything at the SuperShow at no additional cost.”
The theme of the 2025 Florida RV SuperShow is “Celebrating 40 Years!”. The interest in outdoor recreation is at an all-time high and the SuperShow has been there for 40 great years. RVing reflexes the attitude of the nation as they get back to exploring the country. You can bring your hunting gear, fishing equipment, bikes and anything else you have room for. And if you get tired of your view or your neighbors all you have to do is move on! With hundreds of RVs on display and educational seminars, the SuperShow is the place to trade-in your old RV or get all the information you need to get acquainted with the RV lifestyle. And some of Florida’s finest campgrounds and resorts will have booth exhibits to show attendees the best camping opportunities found anywhere. Also a huge display of camping accessories and supplies will be found in the General RV Store.
A favorite of all visitors to the SuperShow is the FREE entertainment. From clowns and unicycle riders to Barbershop Quartets and BagPipe Bands, the SuperShow has enough entertainment to keep everyone busy the entire day.
Seminars are presented throughout the day at the SuperShow making it easy to attend the ones you want to see. Topics include Generator Maintenance, Lippert Components, RVing to Alaska, Guided RV Vacations, Spartan Chassis Maintenance, Lithium Batteries and Solar Power.
Admission to the SuperShow is only $15.00 for adults and that includes a second day admission for the cost of one day and children under 16 are FREE. The SuperShow hours are Wednesday – Saturday 9am – 6pm and Sunday 9am – 4pm. Wednesday-Friday are Senior Citizens Days with seniors receiving $2.00 off the cost of admission (not valid with other discounts).
RV Industry Day will be Tuesday, January 14 from 10am-4pm. Everyone involved in the industry is welcome to attend this day for FREE. Complimentary coffee and donuts will be served in the morning and lunch is also FREE. If you haven’t been to a major RV show this year, now is the time to see all the new products. Register on-line or contact the FRVTA State Office.
For more information on the 2025 Florida RV SuperShow contact the Florida RV Trade Association at 5407 Boran Place, Tampa, Florida 33610, (813) 741-0488, or visit our web-site at www.frvta.org.
According the obituary published by The Elkhart Truth, a Celebration of Life for Pete Liegl will take place 2 to 6 p.m. , Dec. 14, at the RV/MH Hall of Fame in Elkhart, Ind. Family, friends and community are welcome to join the Liegl family to celebrate Pete’s life. This event will follow a private mass for family and close friends at 10:30 a.m. at St Mary of the Annunciation Catholic Church in Bristol.
Pete Liegl
The following is the obituary in its entirety:
Peter John Liegl, 80, of Petoskey, Michigan, passed away on Monday, Nov. 18, 2024, at Northwestern Hospital in Chicago, Illinois surrounded by his immediate family.
While “Pete” may be known in Elkhart for his legendary role in building the RV industry, he came from humble beginnings. He was born on April 30, 1944, in Petoskey, Michigan, to Fredrick and Kathryn Liegl and was one of six children (Mary, Joe, Donna, Jean, and John). During his early childhood, Pete was diagnosed spinal meningitis and where he was given his last rites. Against all odds, Pete survived and started learning the value of hard work by selling eggs at the age of 6. Pete graduated from St. Francis High School and received a BS (Accounting) at Northern Michigan University, and MBA (Finance) at Western Michigan University.
Pete met Sharon Chamberlin in 1964. They were married June 29, 1968, in Petoskey, Michigan. Together they had a daughter, Lisa (Liegl) Rees in 1981.
Pete started his career in finance at Clark Equipment. Pete loved competition and wanted to try sales. He started as a sales coordinator at Coachmen and moved to Pennsylvania to become Sales Manager and then promoted to General Manager. He moved back to Elkhart (1982) as President Midas Motorhomes and President of Shasta a Coachmen-owned company, before deciding to venture out with two partners to purchase Cobra Industries. Cobra Industries went public, and Pete was fired. Ultimately, Cobra went bankrupt, and he purchased the assets. The first Forest River unit was born in a barn and debuted at Louisville under a lamppost 13 because they could not get show space. The first units were manufactured in The Old Bag Factory in Goshen (with cardboard desks and birds flying overhead).
In 1996, Pete envisioned of forming a company “where the forest meets the river.” Pete is best known in the community of Elkhart as the founder of Forest River Inc., and the man who in 2005 sold Forest River to famed investor Warren Buffett’s Berkshire Hathaway Inc.
After selling to Berkshire Hathaway Inc. Pete stayed on as CEO as he loved that he could “keep doing what he had been doing” and work “half” days (7 a.m. to 7 p.m.) and weekends to continue to grow the company. He believed in the company’s mission and loved his Forest River family as his own.
Pete leaves behind not only his wife and daughter but his son-in-law, Logan Rees, and two grandchildren, Adrienne L. Liegl Rees (6) and Ryan W. Liegl Rees (3). In addition to leaving his loved ones behind, he has passed on a family business called Y Recreation and Therapy as well as the Liegl Family Foundation. The immediate family will be further developing the Y Recreation and Therapy to create healing for people to “return to nature” and seek refuge in times of need and recovery. The Liegl Family Foundation will serve as a way to give back to the community which helped him fulfill his dreams. Pete invites you to meet him “where the forest meets the river” you will always find him there.
EDITOR’S NOTE: It is almost a fool’s errand to summarize this incredibly complex issue in a single article. While RVBusiness will continue to provide coverage of this ongoing topic, RVIA has been providing regular updates on this issue as they become available. In addition, RVIA will post a recording of Tuesday’s webinar on its website later this week.
Recent action in California that would severely handicap motorhome sales in that state and more than a handful of others has ignited a flurry of controversy. Making matters worse, the issue is as confusing as it is complex, with misinformation and hyperbole only fanning the flames.
Essentially, the California Air Resources Board (CARB) has a goal of eventually moving California to a zero-emission vehicular (ZEV) economy. To reach this goal, CARB has enacted several regulations including the Advanced Clean Truck (ACT), which impacts chassis manufacturers, and the Omnibus Low NOx rule, which has limited the number of diesel engines that can be sold in medium and heavy-duty vehicles in California. A third action is the Advanced Clean Fleets Regulation, which will require that all medium- and heavy-duty vehicles, including motorhomes, that are sold into California be zero-emission vehicles by 2036.
This confluence of regulations could impact the availability of motorhomes in California beginning Jan. 1, but there’s so much more to this issue.
To offer as much clarity on this topic as can be had, the RV Industry Association (RVIA) conducted an hour-long webinar Tuesday. Hosted by Monika Geraci, RVIA’s director of public relations and communications, the webinar included RVIA Vice President of Government Affairs Jason Rano and Mike Ochs, who serves as RVIA’s director of state government affairs.
The first half of the webinar featured background on the issue, while the final 30 minutes was dedicated to questions from those tuning in.
Jason Rano
Calling it a “fluid and ongoing situation,” Rano emphasized that these regulations do not constitute a “ban” on motorhome sales in California, as has been widely reported by many media outlets.
As revealed during the webinar, motorhomes can still be sold and registered either through utilization of the ZEV credit market or generating a carry forward deficit that will have to be offset by credits within three years.
In either case, the ZEV credits would be obtained and utilized by chassis manufacturers. Motorhome manufacturers could secure ZEV credits and transfer them to chassis manufacturers, Ochs pointed out, but it is ultimately up to chassis manufacturers whether they implement those credits for RVs or for other medium- and heavy-duty vehicles in their fleets.
“Another important consideration is that chassis manufacturers who produce fewer than 500 medium- and heavy-duty vehicles being sold into California annually are exempted from this regulation,” Rano added. “That is one potential workaround – though, obviously, 500 chassis is not sufficient to supply all the motorhomes that are being shipped into California.”
The carry forward deficit is another potential work-around, Rano added. If chassis manufacturers don’t sell enough ZEV chassis or don’t have enough ZEV credits, they have the next three years to make up that deficit. Rano noted that three-year timeframe was an improvement as the regulation previously only allowed a one-year makeup period.
“I think it’s important to note that the makeup period begins immediately following the model year in which the deficit happened,” Rano said. “So, if there is a deficit at the end of the manufacturer’s 2025 model year, the manufacturer would have ’26, ’27 and ’28 model years to make up the shortfall, and then they would have to be made up by the end of that three years.
“So, this is an opportunity for our industry to continue to deliver and for consumers to continue to purchase and register new motorhomes,” he noted. “It’s not a fail-safe – chassis manufacturers still have to make up the credit deficit within three years – but it’s an important consideration and an important ability to continue to deliver new motorhomes into California.”
Michael Ochs
Yet another factor to this issue is there are other states that are in line to follow California’s regulations. According to Ochs, New Jersey, New York, Oregon and Washington are set to implement the regulations beginning with the 2025 model year, while Vermont has targeted the 2026 model year and Colorado, Maryland, New Mexico and Rhode Island have circled the 2027 model year.
While these states must, by law, implement all of these regulations – it’s an all or nothing approach – they do have the flexibility of delaying the implementation. Several states, including Oregon and New York, have indicated they are considering such a course of action.
Lastly, Ochs noted that RVIA in active discussion with CARB officials. He was encouraged by an upcoming meeting that was requested by CARB.
“For those of us who have been working on CARB issues for a while, this has been somewhat of a revelation. It’s the first time I can remember CARB coming to us and asking us for a meeting so we have pledged to continue working with them to see if we can’t find a solution that is fair and equitable to all parties,” Ochs said.
CARB is also planning a public workshop sometime later this month on the Omnibus Low NOx rule, he added. This would be in preparation for the board hearing scheduled tentatively for November of 2025.
ELKHART, Ind., – THOR Industries, Inc. (NYSE: THO) today announced financial results for its fiscal 2025 first quarter, ended Oct. 31.
Key Takeaways from Fiscal 2025First Quarter
First quarter performance continued to be impacted by the current macro environment, in line with expectations
Margins held up well relative to the challenging market
Remained focused on our strategic commitment to long-term investments to create a sustainable competitive advantage and enhanced margin profile
Restructured leadership team to allow for greater focus in North America from our CEO, Bob Martin
Strategic, nonrecurring costs incurred during the quarter unfavorably impacted first quarter results, but actions are expected to result in future annual savings of over $10 million
Full-year fiscal 2025 financial guidance held constant as originally provided
Consolidated net sales in the range of $9.0 billion to $9.8 billion
Consolidated gross profit margin in the range of 14.7% to 15.2%
Diluted earnings per share in the range of $4.00 to $5.00
“As we forecasted, our performance through the first quarter of our fiscal year 2025 continued to be impacted by the soft retail and wholesale environment. Our strategic approach continues to focus on aligning our production to match the current retail environment and avoiding growth of independent dealer inventory levels of our products until market conditions indicate otherwise. By remaining disciplined and aligned with current market conditions, our companies remain incredibly well-positioned to outperform the market when retail demand inevitably picks up,” explained Bob Martin, President and CEO of THOR Industries.
“Our focus is to control what we can control in the current challenging market. Our teams have performed well as evidenced by our gross margin performance, which remains strong relative to current market conditions. This doesn’t happen by accident. Our industry has a history that includes OEMs being too aggressive during market conditions similar to those which we are currently experiencing. A short-term, top-line benefit invariably created much greater long-term hardship. We have been very intentional and disciplined in avoiding that temptation as we position our operating subsidiaries and independent dealers to outperform upon the market’s return.
“What we can control now is product. The reception by our independent dealer partners of our new product lineup at our annual Open House event in Elkhart, Indiana in late September 2024 and by our independent dealers and consumers at the Caravan Salon trade fair in Düsseldorf, Germany in late August/early September 2024 was incredibly strong and gives us reason to remain optimistic about what lies ahead. Barring further future macroeconomic headwinds, it is our expectation that retail activity will begin to trend positively in the latter half of our fiscal 2025, particularly in North America, where we anticipate the return of a stronger retail market,” added Martin.
First Quarter Financial Results
Consolidated net sales were $2.14 billion in the first quarter of fiscal 2025, compared to $2.50 billion for the first quarter of fiscal 2024, a decrease of 14.3%.
Consolidated gross profit margin for the first quarter of fiscal 2025 was 13.1%, a decrease of 120 basis points when compared to the first quarter of fiscal 2024.
Net income (loss) attributable to THOR Industries, Inc. and diluted earnings (loss) per share for the first quarter of fiscal 2025 were $(1.8) million and $(0.03), respectively, compared to $53.6 million and $0.99, respectively, for the first quarter of fiscal 2024.
EBITDA and Adjusted EBITDA for the first quarter of fiscal 2025 were $81,733 and $107,782, respectively, compared to $160,057 and $166,918, respectively, for the first quarter of fiscal 2024. See the reconciliation of non-GAAP measures to most directly comparable GAAP financial measures included in this release.
THOR’s consolidated results were primarily driven by the results of its individual reportable segments as noted below
Management Commentary
“The first quarter of our fiscal 2025 was, as we anticipated, a tough quarter. We held margins well given the challenging sales environment, particularly within our North American Towable segment where we held flat despite a nearly 5% decrease in net sales for the segment. As we talked about fiscal year 2025 at the conclusion of fiscal year 2024, we foretold the expectations of a challenging first half of the fiscal year followed by a stronger second half. We also forecasted, by segment, that we expected margins to solidify in our North American Towable segment but decline in both our North American Motorized and European segments. Still, given the decline in net sales across our segments we are pleased with our relative margin performance. The bottom line for this quarter is that we performed as we expected through the financial period. We remained focused on what we could control in this market as we continued to position the Company to excel when a stronger retail market inevitably returns,” said Todd Woelfer, Senior Vice President and Chief Operating Officer.
“Our European segment faced an incredibly difficult comparison given that last year was a record first quarter for the segment. In the year-over-year comparison, net sales dropped by just under 15% on a decrease in unit shipments of slightly over 27%. At the gross profit line, our European segment delivered a gross profit margin of 15.3% despite the drop on the top line. Our European team continues to perform well and their efforts to drive efficiencies throughout their processes continue to manifest in a much stronger margin profile than the segment has historically experienced.
“From an EPS perspective, this quarter was disappointing but not fully unexpected due to the challenging macro environment. Additionally, first quarter results include various nonrecurring costs related to strategic actions taken during the quarter to streamline and flatten the organization which will enable us to perform more efficiently going forward. During the quarter, we eliminated the management layer between our North American RV subsidiaries and our CEO. This will allow for Bob to return to his hands-on approach of leading and guiding these companies. In addition to other headcount reductions, we also closed an operating facility in Idaho. These strategic actions led to employee separation and facility closure-related costs totaling approximately $15.5 million during the quarter but will enable us to perform more efficiently and are expected to generate future annual savings of over $10 million. Long term, these strategic realignment actions place THOR in a better position to maximize future earnings,” explained Woelfer.
“Our initial view of fiscal year 2025 forecasted for challenging first and second quarters driven by the difficult markets and a return to a more normal cadence of operating results in Europe following a record fiscal 2024, with particular challenges facing our North American Motorized segment. As we look to the remainder of the fiscal year, we continue to believe that our initial forecast for our fiscal year 2025 is an accurate assessment of the RV industry for the next nine months. For our performance, this means that we anticipate a challenging second quarter but stronger quarters in our fiscal second half. Continued discipline in a challenging market is not always the easy path, but, without a doubt, it is the right one. Our focus is on long-term value, not short-term illusions. Our commitment to investing in innovation and developing revolutionary products affirms this focus on the long term. This is a tough market, and everyone who follows our industry understands the current market dynamics. The real story for THOR, though, is that THOR has positioned itself incredibly well for a strong performance upon the market’s return,” added Woelfer.
“In the first quarter of fiscal 2025, we generated approximately $30.7 million of cash from operations and, in keeping with our long-term strategic plan and historical commitment to taking a balanced approach to capital allocation, we continued to reinvest in our business, reduce our indebtedness and return capital to our shareholders,” added Colleen Zuhl, Senior Vice President and CFO.
“First quarter capital expenditures totaled approximately $25.3 million, as we maintained our focus on prudently upgrading facilities and machinery where needed and investing in certain innovation-related projects, while also continuing to manage our non-critical spend in response to current market conditions. Always conservative in our cash management, we continue to prioritize the investments back into our business by assessing the temporal value of each investment and foregoing or delaying projects that do not return adequate value in the shorter term. Additionally, during the first fiscal quarter we strategically paid down approximately $61.8 million of debt, and, with October’s announcement of a 4.2% increase in our regular quarterly dividend, we marked the 15th consecutive year of increasing our dividend.
“Our liquidity remains a bedrock of our business and an unrivaled strength within the industry. On October 31, 2024, we had liquidity of approximately $1.31 billion, including approximately $445.2 million in cash on hand and approximately $865.0 million available under our asset-based revolving credit facility. Our strong balance sheet, solid cash generation profile and balanced and disciplined approach to capital deployment continue to lay the groundwork necessary for us to execute on our long-term strategic plan while simultaneously working through the current challenges facing our industry,” said Zuhl.
Outlook
“Our current view of fiscal year 2025 remains consistent with our initial financial forecast and guidance. In September, the RVIA released its expectations that for calendar year 2025 it expects wholesale unit shipment totals to exceed 345,000 units. We continue to be a bit more conservative with our view but do see potential upside in the market if consumer confidence elevates during calendar 2025. The signs of the return of the normalized market are beginning to show in the form of an uptick in dealer optimism. We share our dealers’ reasons to have confidence in the future of our industry. In the interim, we will hold steadfast to our strategy of prudence in the face of a challenging market as we focus on controlling what we can control, all while positioning THOR to outperform upon the market’s return,” concluded Martin.
Fiscal 2025 Guidance
“Our view of the remainder of our fiscal year 2025 remains unchanged from our initial assessment. In terms of sequence of performance, we will have a challenging second quarter followed by stronger third and fourth quarters. By the end of our fiscal year 2025, we anticipate that the retail market will begin to trend positively, setting up fiscal year 2026 to be a stronger year. Given our expectations surrounding overall market volumes in both North America and Europe, the Company reconfirms our initial financial guidance for fiscal 2025,” commented Woelfer.
For fiscal 2025, the Company’s full-year financial guidance includes:
Consolidated net sales in the range of $9.0 billion to $9.8 billion
Consolidated gross profit margin in the range of 14.7% to 15.2%
Diluted earnings per share in the range of $4.00 to $5.00
Supplemental Earnings Release Materials
THOR Industries has provided a comprehensive question and answer document, as well as a PowerPoint presentation, relating to its quarterly results and other topics.
PHOENIX, Ariz. – Veritas Global Protection, a leader in vehicle protection plans, announces the expansion of its RV protection offerings. With new features such as enhanced roadside assistance and comprehensive maintenance coverage, RV owners can enjoy even greater peace of mind and reliable support on their adventures.
This expansion underscores Veritas Global Protection’s commitment to providing high-quality vehicle protection solutions tailored to the unique needs of RV enthusiasts, the release continued. The updated plans include full mechanical breakdown coverage, making sure that unforeseen issues are addressed promptly, and enhanced roadside assistance, offering RV owners quick and reliable help wherever their journeys take them.
Key Features of the Expanded RV Protection Plans
Enhanced Roadside Assistance: From towing to emergency services, the expanded roadside assistance program ensures RV owners are never left stranded.
Comprehensive Maintenance Coverage: Routine maintenance and preventative care are now easier to manage, helping to keep RVs in optimal condition.
Full Mechanical Breakdown Coverage: Peace of mind is guaranteed with coverage designed to handle unexpected repairs.
Veritas Global Protection’s RV protection plans are designed to provide seamless support to customers, ensuring that their vehicles remain in excellent condition while minimizing unexpected expenses. This expansion also caters to the increasing demand from RV dealerships in Ohio and nationwide for comprehensive and reliable vehicle protection solutions.
Veritas Global Protection has a long-standing reputation for customer satisfaction, with positive feedback reflected in Veritas Global Protection’s BBB page compared to other vehicle protection plans or manufacturers auto warranty reviews and extended warranty reviews across various platforms. The company continues to focus on enhancing its services while maintaining a strong presence in states like Ohio and beyond.
Veritas Global Protection is a leading provider of vehicle protection plans, offering tailored solutions for a wide range of vehicles, including luxury cars, powersports, and RVs. Known for its commitment to customer service and comprehensive coverage options, Veritas Global Protection ensures that vehicle owners receive unparalleled support and peace of mind.
In this episode of “OEM Showcase: On Location”, a video series presented by RVBusiness, Fred Foulks, a regional sales manager with Prime Time RV, provides a walk-through tour of the Tracer travel trailer.
Adventurer Manufacturing builds both the Adventurer truck camper line (founded in 1969) and the Scout truck camper line (founded in 2020). These two camper lines are manufactured in the same Yakima, Washington factory by two separate production lines and teams using different materials and construction processes.
The design, features, and build of Adventurer truck campers skew heavily toward traditional truck campers sold on mainstream RV dealer lots. The design, features, and build of Scout truck campers skew heavily toward the Overland market sold either direct or through overland-focused dealerships.
Federal Reserve Board of Governors member Christopher Waller poses on May 23, 2022, in Washington. (AP Photo/Patrick Semansky, File)
WASHINGTON — A top Federal Reserve official said Monday that he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view, according to an Associated Press report.
Speaking at George Washington University, Christopher Waller, a key member of the Fed’s Board of Governors, said he was confident that inflation is headed lower and that the central bank will likely keep reducing its key rate, which affects many consumer and business loans.
But he noted that there’s a risk that inflation “may be getting stuck above” the Fed’s 2% target, which would support an argument for keeping the Fed’s rate unchanged this month.
“At present, I lean toward supporting a cut to the policy rate at our December meeting,” Waller said in his remarks to a conference held by the American Institute for Economic Research. “But that decision will depend on whether data that we will receive before then surprises to the upside and alters my forecast for the path of inflation.”
