Sales of new RVs carry on to soar

There appears to be no end to American’s new hunger for RV vacation. RVs are flying off RV dealers’ sales lots faster than they can swap them. Right up until just a short while ago, most of the revenue were to to start with-time buyers, with no trade-ins. Sellers report that is altering marginally as some more mature RVers “age out” of the market.

The RV Marketplace Association’s August 2020 survey of manufacturers located that overall RV shipments finished the month with 39,489 models, an boost of 17.3% from the 33,674 units delivered in August 2019.

Towable RVs, led by typical journey trailers, totaled 35,561 models for the month, an boost of 20.8% compared to last August’s complete of 29,448 models. Motorhomes finished the month with 3,928 units, down (-7.1%) compared to the August 2019 whole of 4,226 models.

For the 12 months, shipments stand at 258,591 units, off just 7.1% as the RV industry proceeds to conquer the almost two-month shutdown this spring because of to the COVID-19 pandemic.

SEE AUGUST Sales CHART Under.

NO SLOWDOWN IN SIGHT
RV shipments are envisioned to surpass 400,000 wholesale units by the end of 2020 and see continued advancement in 2021 to much more than 500,000 units, in accordance to the Tumble 2020 RV RoadSigns ready by ITR Economics for the RV Marketplace Affiliation.

The new projection sees complete shipments ranging concerning 414,200 and 434,500 models with the most very likely 2020 calendar year-close total becoming 424,400 models. That overall would characterize a 4.5 % achieve in excess of the 406,070 units shipped in 2019, conquering a virtually two-month RV business shutdown due to the COVID-19 pandemic. Initial estimates for 2021 have a variety of 494,400 to 519,900 models with a most very likely outcome of 507,200 units, a 19.5 percent raise around 2020.

The 507,200 units projected for 2021 would depict the best annual overall on measurable file for the RV market, eclipsing the 504,600 units delivered in 2017. The projected 424,400 models in 2020 would be the fourth ideal annual whole on record.

Towable RV shipments are predicted to attain 383,900 units in 2020 and 452,500 units in 2021. Motorhome shipments are projected to complete at 40,500 models in 2020 and 54,700 units in 2021.

“The RV sector has experienced robust client expansion more than the past 10 decades, but the latest soar in buyer fascination in RVing driven by the COVID-19 pandemic has led to a marked increase in RV shipments to fulfill the amazingly robust get exercise at the retail amount,” explained RV Industry Association President Craig Kirby. “This new forecast confirms what we have been observing throughout the state as folks turn to RVs as a way to have the liberty to vacation and encounter an energetic outside life style even though also managing their atmosphere.”

CHART COURTESY OF RVIA