Polaris, Thor Industries boost RV production as 'unprecedented demand' weighs on inventories

In a separate interview that aired on "Mad Money" that same day, Scott Wine, head of Polaris Inc., said his company is also seeing "unprecedented demand," which is being driven by new customers, particularly millennials, coming into the powersports market. The newfound interest has brought Polaris' inventory down to a "multi-decade low," he added.

"We just do not have enough dealer inventory and … we're really working to optimize our supply chain," he said. "We're giving them enough to keep going, but, ultimately, it's at a multi-decade low right now … it's going to be a few more quarters before we get there." As the warmer months get behind us and the winter months approaching, Polaris is reporting early signs of strong snowmobile sales.

Polaris is also seeing more women buying its products, and the spike in new customers — in addition to the low supply in motor vehicles — warranted the company to cut back on its marketing spending. That has allowed the company to utilize better pricing power and improve its margins, Wine said. "Once we bring them in, they're more likely to bring their friends in and keep this going for us," he said. "We do not plan to get to those higher-level promotions. We believe that we've got the right products, we've got the right marketing campaigns and we're really confident in our ability to deliver both the third quarter and the rest of the year strong for shareholders.

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