You should consider the current market conditions before you decide to buy an RV. Recently, the RV Industry Association released a report that predicted a decline of 8.4% in RV sales by 2022. While this is a significant decrease, 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 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. This summer is all about relaxation and fun, with a growing sense of confidence and a strong economy. A growing number are younger consumers.
Americans were able cash in on their homes at the peak of the economy to purchase RVs. However, as the market declined, the number used RVs for purchase began to decrease. RV owners began to hold on to their RVs longer, which led to a glut on the market.
In the last few years, manufacturers faced massive production delays, as well as supply chain issues that left them without parts to make new models. Due to this, new RVs were delayed in shipping and inventory was reduced.
After a record-setting year in 2017, RV sales are bouncing back in the months to come. 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. And while some RVs that were ordered this year will be delivered later than expected, the overall volume of shipments is still a significant increase over the previous year.
Despite a dip in sales, Americans still love the RV market. An RV can be a great way for your family to have fun and get on the road. It is an investment that will bring back good memories for many years. There are many RVs available, including fifth-wheels and towables.
Some dealers have both new and second-hand motorhomes. Others offer travel trailers, which are easier to build than motorized models. Most dealers offer discounts during slower months. The summer is the best time to buy motorhomes or trailers, as camping is at its peak.
Despite some challenges ahead, the RV market is one of best-selling vehicles. Make sure you are buying a reliable RV. National Vehicle will provide you with a free RV value.