If you are thinking about buying an RV, it is worth looking at the market. A report by the RV Industry Association (RVIA), recently predicted that sales will drop 8.4% in 2022. It is a significant drop but overall, the industry is 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 highlight supply restrictions and strong consumer demand. However, they point out the fact the RV market still faces high gas prices and the Federal Reserve campaign against 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 is younger people.
Americans could cash in on their homes to purchase an RV when the economy was at its best. The number of RVs available for sale started to drop as the market began to slow down. RV owners started to keep their RVs for longer periods of time, which caused a glut in this market.
Over the past few decades, manufacturers have experienced massive production delays and supply chain problems, which left them with no parts to create new models. This caused delays in shipments of new RVs and left buyers with very limited options.
After a record year in 2017, sales of RVs are rebounding in the months ahead. The RV Industry Association, (RVIA), predicts that 576.065 units of RVs will be in the United States by 2020. This represents a 14.1% increase from last year's record high of 504,600 RVs. Although some RVs ordered this year may not arrive in time, overall shipment volume is up significantly from last year.
Despite a recent decline in sales, the RV market is still a popular choice for Americans who want to relax and enjoy the great outdoors. It's a great way of having fun with your family while on the road. This is a good investment that will provide many happy memories over the years. You can find RVs of all types, from towables to fifth wheels.
Some dealers carry both new and used motorhomes. There are also travel trailers available, which are more straightforward to build than motorized vehicles. Most dealers offer discounts in the slower months. A great time to buy a trailer or motorhome is the summer when camping is at its peak.
The RV market will face many challenges in the future, but it is one the most durable vehicles on market. If you decide to buy an RV, it's important to make sure that you're purchasing a reliable model. National Vehicle can provide a free RV appraisal.