It is important to consider what the market is doing if you are interested in purchasing an RV. The RV Industry Association (RVIA) recently issued a report that predicts a decline in sales of 8.4% in 2022. This is a significant decline, but overall the industry remains strong.
ITR Economics, which forecasts RV industry growth, says that the top economic indicators suggest that the RV industry's outlook for the next six-month is positive. They mention supply constraints relief and robust consumer demands. However, they highlight the fact RV buyers still have to deal with high prices for gas and the Federal Reserve's efforts to control inflation.
Although the RV market still faces these problems, the travel industry and leisure are beginning to emerge from the two years of uncertainty. Many are looking for fun and relaxation this summer, thanks to a stronger economy and increased confidence among consumers. A growing number of young people are among these consumers.
Americans had the opportunity to cash-in on homes and purchase an RV at their peak economic times. The number of RVs available for sale started to drop as the market began to slow down. RV owners began to keep their RVs longer which created a glut in market.
In the past few years, manufacturers were faced with massive production delays as well supply chain issues which left them without part to make new models. New RVs were not being shipped on time and there was little choice for buyers.
After a record 2017 year, RV sales are recovering in the coming months. According to the RV Industry Association of America (RVIA), 576.065 units will sell in the United States in 2020. This represents a 14.1% increase from last year's record high of 504,600 RVs. And while some RVs that were ordered this year will be delivered later than expected, the overall volume of shipments is still a significant increase over the previous year.
Despite the recent drop in RV sales, the market for RVs remains popular with Americans who want to unwind and enjoy nature. An RV can be a great way for your family to have fun and get on the road. An RV can be a great investment that will create good memories for many years. RVs are available in all types of configurations, from fifth wheels to trailers.
Some dealers sell both used and new motorhomes. Some dealers also offer travel trailers which are much easier to construct than motorized models. Most dealers offer discounts during slower months. Summer is a great season to buy a motorhome/trailer.
The RV market is not without its challenges, but it is also one of most popular and depreciating vehicles. When you make the decision to purchase an RV, you need to ensure it is a reliable one. National Vehicle will provide you with a free RV value.