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. Although this is a substantial drop, the overall industry is still strong.
ITR Economics, which forecasts for the RV industry says the current economic indicators are positive. They cite relief from supply constraints and robust consumer demand. 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 is still struggling with these issues, the travel- and leisure industry is slowly emerging from two decades of uncertainty. Many people are seeking relaxation and fun this summer due to increased confidence in the economy and consumers' increasing sense of security. A growing number is younger people.
Americans were able, when the economy was strong, to cash in their homes and buy an RV. The number of RVs available for sale started to drop as the market began to slow down. Many owners of RVs began to hang on to their vehicles longer, causing a glut in the marketplace.
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. Due to this, new RVs were delayed in shipping and inventory was reduced.
After a record year in 2017, sales of RVs are rebounding in the months ahead. The RV Industry Association (RVIA) projects that 576,065 units will be sold in the United States in 2020. This represents a 14.1% increase from last year's record high of 504,600 RVs. The overall volume of shipments will increase by 14.1% over last year, even though some RVs ordered this past year will not be delivered as expected.
Despite the recent dip in sales, the RV market remains a popular option for Americans looking to unwind and enjoy the outdoors. An RV is a wonderful way to enjoy the outdoors with your loved ones. 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.
Dealers may carry used and new motorhomes. Some dealers also offer travel trailers which are much easier to construct than motorized models. Most dealers offer discounts during slow months. The summer is the best time to buy motorhomes or trailers, as 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. When you make the decision to purchase an RV, you need to ensure it is a reliable one. You can get a free RV valuation from National Vehicle.