RV Maker Thor Says Macro Pressures are Becoming More Pronounced
Dow Jones09-22 19:31
0731 ET - Thor Industries says macroeconomic strains continue to weigh on consumers. "The pressures on the North American RV consumer that we described last quarter still remain, and in some instances, they are becoming more pronounced with the recent interest rate increase and elevated fuel prices," the RV maker says in prepared earnings remarks. Entry-level and mid-tier buyers are trading down to smaller and used RVs, or staying out of the market entirely for the time being, the company adds. Across Europe, consumers are generally operating from an overall healthier financing foundation, paying a higher percentage of the purchase price in cash with less reliance on finance, according to Thor.
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