Recreational vehicle maker Thor Industries, Inc. THO is taking advantage of the "no more planes, no more hotels" trend playing out among those who would have otherwise never considered RV ownership, Thor CEO Robert Martin said Monday on CNBC's "Mad Money."
What Happened: The RV is quickly earning a reputation of being the safest way to get from point A to point B given it has its own bed, bathroom, and kitchen and the only real reason to stop is to get gas, Martin said.
The company has been marketing this sort of lifestyle for some time and is now gaining traction from people who don't want to go on a cruise or fly.
"It's a way for us to really just enjoy the United States and in Europe, it's the same thing," he said. "They are enjoying more of their homeland and we seem to fit the need right now."
Why It's Important: The COVID-19 pandemic created a "hard stop" for Thor but now 99.5% of its workers returned at the Keystone factory, the CEO said. Encouragingly, the company is even looking to hire more people as the industry gets back online.
RVs can also double as a potential income-generating home as people can retrofit their property to include a larger workspace, Martin said.
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