If you're interested in buying an RV, you'll want to take into consideration what's going on in the market. Recent reports by the RV Industry Association (RVIA), predict a 8.4% decline in RV sales in 2022. This is a significant drop, but the industry remains strong overall.
ITR Economics, which forecasts and analyzes the RV industry, believes that the most important economic indicators point to a healthy outlook for the coming six months. 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. This summer is all about relaxation and fun, with a growing sense of confidence and a strong economy. A growing number is younger people.
Americans were able, when the economy was strong, to cash in their homes and buy an RV. However, as the market declined, the number used RVs for purchase began to decrease. RV owners began to hold on to their RVs longer, which led to a glut on the 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. The result was that new RV shipments were delayed and inventory was limited.
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% rise from the 504,600 units that were sold last year. 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 a dip in sales, Americans still love the RV market. An RV can be a great way for your family to have fun and get on the road. It is an investment that will bring back good memories for many years. RVs come in all shapes and sizes, from fifth wheels to towables.
Some dealers carry both new and used motorhomes. Many dealers also sell travel trailers. These are less complicated to build than motorized units. Most dealers offer discounts during slow months. It's a great time of year to purchase a motorhome, trailer, or campervan.
The RV market is not without its challenges, but it is also one of most popular and depreciating vehicles. Make sure you are buying a reliable RV. You can get a free RV valuation from National Vehicle.