THOR PUBLISHES NORTH AMERICAN MOTORIZED ELECTRIC RV STUDY RESULTS

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May 12, 2022, 10:00 ET

Global RV Leader Reveals Key Insights About Consumer Expectations for Motorized Electric RVs

ELKHART, Ind., May 12, 2022 /PRNewswire/ -- THOR Industries, Inc. (NYSE: THO) announced the release of the company's North American Motorized Electric RV Study, which explores consumer expectations, key purchase motivators and electric infrastructure development needs. The global RV industry leader is utilizing the data to inform its high-voltage electric platform innovation, which will enable the THOR family of companies to industrialize motorized electric RVs to exceed consumer expectations.

Comprehensively confirming the need for long range solutions such as THOR's high-voltage solution, THOR's study found that 45% of consumers expect to be able to drive 5-6 hours on a single charge. This data aligns with results from THOR's 2021 North American Path to Purchase Study in which 70% of new RV purchasers reported traveling an average of 5 or more hours from their home for RV trips. THOR's newest survey reflects that only 3% of consumers expect to charge after 2 hours or less of driving, which is the range currently offered by low-voltage motorized electric RVs.

The survey included question to assess consumers' interest level, intended usage, charging and service expectations, as well as identify factors challenging their purchase of motorized electric RVs. The featured information was collected from current and potential electric vehicle owners who are interested in purchasing a motorized electric RV, who have had some level of RV experience within the last 10 years.

Several key findings from the survey include:

Usage:

47% expect to use a motorized electric RV at least "once a week or more often" or "once every 2 to 3 weeks"

Charging Expectations:

97% expect to drive 3 hours or longer before charging
70% report that the inclusion of an onboard fuel cell for recharging the vehicle's battery positively impacts their purchase interest level, regardless of a small carbon footprint

Charging Infrastructure:

44% expect a fact-charging (1-hour) station at each individual campground spot
34% report charging time is expected to be 45-59 minutes
34% report charging cost from empty to full is expected to be $41-$60

"As the global leader in the RV industry, it's important that we share some of the critical data and insights used to inform innovation efforts across the THOR family of companies, which allow us to anticipate and exceed consumer expectations," shared THOR President and CEO Bob Martin. "Our motorized electric RV study confirms that the high-voltage motorized platform we've developed meets the expectations of consumers, however charging infrastructure development is necessary to increase adoption. When it comes to electrification, THOR is positioned to redefine the RV experience."

For more motorized electric RV findings and to view the North American Motorized Electric RV Study, please download it here. To learn more about THOR's electric RV innovation, visit www.thorindustries.com/innovation.

About THOR Industries, Inc.
THOR Industries is the sole owner of operating companies which, combined, represent the world's largest manufacturer of recreational vehicles. For more information on the company and its products, please go to www.thorindustries.com.

SOURCE THOR Industries