You should consider the current market conditions before you decide to buy an RV. According to the RV Industry Association (RVIA), sales are expected to decline by 8.4% 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 also cite supply shortages and strong consumer demand as reasons for optimism. But they also mention the fact that RV markets are still struggling with high gas prices, and the Federal Reserve campaign for inflation control.
Although the RV market still faces these problems, the travel industry and leisure are beginning to emerge from the two years of uncertainty. With an increased sense of confidence among consumers and a strong economy, many are pursuing fun and relaxation this summer. Among these consumers is a growing number of younger people.
When the economy was at its peak, Americans were able to cash in on homes and use the money to buy an RV. 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.
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. As a result, shipments of new RVs were pushed back and inventory was left with only limited choices for buyers.
After a record year in 2017, sales of RVs are rebounding in the months ahead. 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. Although some RVs ordered this year may not arrive in time, overall shipment volume is up significantly from last year.
Despite recent sales declines, RVs are still very popular among Americans who love to relax and enjoy the outdoors. An RV can be a great way for your family to have fun and get on the road. An RV can be a great investment that will create good memories for many years. RVs come in all shapes and sizes, from fifth wheels to towables.
Some dealers offer both new and used motorhomes. Others offer travel trailers, which are easier to build than motorized models. Many dealers offer discounts during slower months. It's a great time of year to purchase a motorhome, trailer, or campervan.
Although the RV market may face challenges ahead, it is one of the most depreciating vehicles on the market. If you decide to buy an RV, it's important to make sure that you're purchasing a reliable model. National Vehicle provides a free RV evaluation.