Consider the market trends if you are considering buying an RV. The RV Industry Association (RVIA) recently issued a report that predicts a decline in sales of 8.4% in 2022. While this is a significant decrease, 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 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.
These issues are still being addressed by the RV market, but the travel and leisure sector is beginning to recover from 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 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. As the market started to slow down, however, the inventory of RVs for sale fell. RV owners started to keep their RVs for longer periods of time, which caused a glut in this market.
Manufacturers faced major production delays in the last few years. They also had to deal with supply chain issues that prevented them from getting parts for new models. As a result, shipments of new RVs were pushed back and inventory was left with only limited choices for buyers.
After a record-breaking year in 2017, RV sales are returning to normal in the months to follow. The RV Industry Association, (RVIA), predicts that 576.065 units of RVs will be in the United States by 2020. That represents a 14.1% gain from last year's record-high total of 504,600 units. 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 recent sales declines, RVs are still very popular among Americans who love to relax and enjoy the outdoors. Buying an RV is a great way to get out on the road and have fun with the family. It is an investment that will bring back good memories for many years. RVs can be found in all kinds, from fifth wheels and towables.
Dealers may carry used and new motorhomes. Others offer travel trailers, which are easier to build than motorized models. 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.
Despite some challenges ahead, the RV market is one of best-selling vehicles. If you decide to buy an RV, it's important to make sure that you're purchasing a reliable model. National Vehicle offers a free RV valuation.