You should consider the current market conditions before you decide to buy an RV. The RV Industry Association (RVIA) recently issued a report that predicts a decline in sales of 8.4% in 2022. Although this is a substantial drop, the overall industry is still strong.
ITR Economics forecasts the RV market. The leading economic indicators show that the future outlook is good. They cite relief from supply constraints and robust consumer demand. However, they point out the fact the RV market still faces high gas prices and the Federal Reserve campaign against inflation.
The RV market continues to struggle with these issues but the travel and entertainment industry is emerging 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. There is an increasing number of younger people among these consumers.
Americans were able, when the economy was strong, to cash in their homes and buy an RV. But as the market continued to slow down, the number of used RVs for sale began to decline. 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. The result was that new RV shipments were delayed and inventory was limited.
After a record year in 2017, sales of RVs are rebounding in the months ahead. The RV Industry Association (RVIA), projects that 576.065 units will be sold here in the USA 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 a dip in sales, Americans still love the RV market. An RV is a wonderful way to enjoy the outdoors with your loved ones. It's an investment that can provide good memories for years to come. There are many RVs available, including fifth-wheels and towables.
Some dealers offer both new and used motorhomes. Some dealers also offer travel trailers which are much easier to construct than motorized models. Most dealers offer discounts during the slower months of the year. Summer is a great season to buy a motorhome/trailer.
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 will provide you with a free RV value.