Strap on your seat belt and engage the air bag; there's more bad news in the auto industry on Tuesday.

Thor Industries

(THO) - Get Report

, the maker of RVs and buses, posted a 41% drop in sales in the third-quarter.

Thor's sales tumbled to $415 million from $708 million, hurt by steep declines in RV sales. RV sales were nearly halved to $311 million from $601 million, last year. Bus sales declined to $104 million from $107 million.

During the past nine months, Thor's sales have tumbled by 48% to $1.08 billion from $2.07 billion last year.

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