Lippert President and CEO Jason Lippert said the RV supplier is seeing strong market share in its core products, fueling second-quarter sales that surpassed the second quarter of 2023.
Lippert’s RV OEM sales grew 20% in the second quarter compared with the second quarter of 2023. Lippert sold $5,237 per RV in the second quarter, down slightly from the second quarter of 2023. Lippert has grown its average towable content by more than 50% since 2020.
“From the perspective of market share on core products—chassis, axles, windows, furniture—we are at or above where we were last year in all those key categories,” Jason Lippert said. “Then some categories, like appliances, were up. I can tell you axles, for example, is one of our top three categories. We are going to do more in sales this year in axles than we did in 2022.”
Jason Lippert said he was excited about new and growing products, such as the Furrion Chill Cube air conditioner, which reduced sound compared with previous ACs and has an 18,000 BTU output. He cited Keystone Cougar’s adoption of Lippert’s anti-lock brake system (ABS) as an example of ABS continuing to grow. Brinkley’s RV’s windows, made in conjunction with Lippert, are now gaining traction with other OEMs, Lippert said.
“I can say without a doubt,” he said, “I have never seen a 12-month period during which our teams have introduced more transformational innovations for the industry.”
The innovations have come as Lippert downsized the company to match demand. Jason Lippert said the supplier eliminated nearly 1 million square feet of production space in the past 18 months. He said the cutbacks have not slowed production capacity, and Lippert has more consolidation planned.
Jason Lippert looked ahead to Elkhart Extravaganza, saying he did not believe RV dealers would make a big uptick in orders at the event because they would delay restocking until retail sales increased.
“There is not going to be a little bit more retail until the rates adjust and see some change,” he said. “I think they come here and they spend a lot of time building relationships, more than anything, with the suppliers and the OEMs. On top of that, they get to see all the new products that we are looking at. They are going to get to see ABS….We are going to have our innovation on display, and the OEMs will have all their new products and floor plans on display.”
