Peer-to-peer recreational vehicle-sharing company Mighway aims to boost RV manufacturer Thor Industries’ sales through a partnership between the two companies inked March 1, Powersports Finance has learned.
Mighway’s parent company Tourism Holdings Ltd. and Thor Industries launched the 50/50 joint venture, called TH2, which aims to reduce the barriers to RV ownership.
In the same way AirBnB helps homeowners make money while they are away, this initiative seeks to connect RV owners globally to the sharing economy, thus reducing barriers to ownership, according to a press release.
The TH2 platform provides owners with trip planning, campsite booking, roadside assistance, and peer-to-peer rentals through Mighway. Mighway offers RV storage and maintenance options, and allows users to list their RVs to rent when not in use.
Mighway will tap into Thor’s network of dealers to help incentivize consumers to purchase RVs. The TH2 joint venture will allow Mighway to explore more ways to add value to RV ownership and increase the startup’s geographic footprint in the U.S., Dave Simmons, chief executive of Mighway, told Powersports Finance.
He added that Mighway is looking at “innovative ways” it can offer a “seamless sales proposition” through dealership channels, such as dealer education and tailored F&I products. Mighway, which originally launched in New Zealand in 2015, made its U.S. debut in California about a year ago, and now operates nationwide.
This article originally appeared in the monthly Powersports Finance Update newsletter. To view previous issues, click here.