A major employer in Michiana is benefiting from the booming recreational vehicle industry.
Lippert Components reported sales of $498 million in the first quarter of 2017. That’s $75 million more than the same period in 2016, according to the Elkhart Truth.
Lippert supplies components to RV manufacturers and other related industries. The Elkhart-based company credits the growth in wholesale shipments of towable and motorized RVs, which have increased 12 percent and 16 percent respectively in the first quarter of this year.
“Continuing the industry growth trend from 2016, first quarter sales of wholesale travel trailers were up over 12 percent and fifth-wheels were up over 10 percent,” said Jason Lippert, LCI’s chief executive officer. “Travel trailer sales momentum has continued as the industry attracts a new generation of RV enthusiasts.”
The RV industry’s retail demand is up 12 percent through February, according to Statistical Surveys, Inc. That figure is expected to grow, allowing the health of the RV industry to continue to flourish.
