If you're interested in buying an RV, you'll want to take into consideration what's going on in the market. The RV Industry Association (RVIA) recently issued a report that predicts a decline in sales of 8.4% in 2022. This is a significant decline, but overall the industry remains strong.
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 cite relief from supply constraints and robust consumer demand. But they also mention the fact that RV markets are still struggling with high gas prices, and the Federal Reserve campaign for inflation control.
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. A strong economy and an increase in confidence among consumers have led to many people wanting to relax and have fun this summer. Among these consumers is a growing number of younger people.
Americans had the opportunity to cash-in on homes and purchase an RV at their peak economic times. As the market slowed down, there was a decrease in the supply of used RVs. The result was a glut of RV owners who continued to keep their RVs.
Manufacturers have faced huge production delays over the past few years as well as supply chain problems that left them without parts to build new models. Due to this, new RVs were delayed in shipping and inventory was reduced.
After a record-breaking year in 2017, RV sales are returning to normal in the months to follow. 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% 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 drop in RV sales, the market for RVs remains popular with Americans who want to unwind and enjoy nature. A great way to travel with your family and have some fun is by buying an RV. This is a good investment that will provide many happy memories over the years. RVs can be found in all kinds, from fifth wheels and towables.
Some dealers sell both used and new motorhomes. Others offer travel trailers, which are easier to build than motorized models. Most dealers offer discounts during 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. You should ensure that your RV is reliable before you buy it. You can get a free RV valuation from National Vehicle.