You should consider the current market conditions before you decide to buy an RV. Recent reports by the RV Industry Association (RVIA), predict a 8.4% decline in RV sales in 2022. This is a significant decline, but overall the industry remains strong.
ITR Economics forecasts the RV market. The leading economic indicators show that the future outlook is good. They also cite supply shortages and strong consumer demand as reasons for optimism. 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 is still struggling with these issues, the travel- and leisure industry is slowly emerging from two decades 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. A growing number is 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. RV owners started to keep their RVs for longer periods of time, which caused a glut in this 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. 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. According to the RV Industry Association (RVIA), 576,065 RVs will be sold in America in 2020. This represents a 14.1% rise from the 504,600 units that were sold last year. While some RVs will arrive later than expected this year, the overall volume of shipment is still up by a substantial amount over last year.
Despite the recent dip in sales, the RV market remains a popular option for Americans looking to unwind and enjoy the 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. RVs are available in all types of configurations, from fifth wheels to trailers.
Some dealers have both new and second-hand motorhomes. Many dealers also sell travel trailers. These are less complicated to build than motorized units. Most dealers offer discounts during slow months. Summer is a great season to buy a motorhome/trailer.
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. National Vehicle can provide a free RV appraisal.