Wednesday, November 05, 2008

Thor's 1st-Quarter Sales Dropped 42% on RV Demand

(Bloomberg) -- Thor Industries Inc., the largest U.S. maker of travel trailers, said quarterly sales dropped 42 percent to the lowest in more than 4 years as demand for recreational vehicles plunged.

Revenue for the three months ended Oct. 31 slid to $439.2 million, Jackson Center, Ohio-based Thor said in a statement today. Sales of RVs such as towable trailers and motor homes fell by half to $331.2 million, while bus revenue rose.

Tightening credit markets and a U.S. jobless rate that climbed to a five-year high eroded consumer confidence. Shipments of RVs have fallen 25 percent this year through September, according to the Reston, Virginia-based Recreation Vehicle Industry Association.
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