Lay-offs coming to the recreational vehicle markets

Thor Industries, the largest recreational vehicle manufacturer (brands include Airstream, Jayco) issued mass layoff notices on Monday, April 21, to workers at three companies in the key Indiana/Southwest Michigan manufacturing hub. Workers at Cruise RV, Heartland RV, and DRV RV are affected. Layoffs will take effect by June 20, with over 500 estimated job losses.

Why this matters: The Recreational Vehicle Industry Association (RVIA) was forecasting 2025 wholesale RV shipments to be slightly higher at 350,100 units, up from 333,700 in 2024. Thor’s actions suggest that their internal outlook on the market may be less optimistic. RVs fall into the category of discretionary consumer spending on durable goods. Weak consumer sentiment, rising debt, and growing concerns about inflation – exacerbated by the effects of new tariffs – are all combining to potentially drag down discretionary spending.