RV Market Insights (2023)

  1. RV sales have been declining in 2023, with a 16% decrease in sales compared to 2022. RVIA
  2. Shipments of RVs are down 49.2% year to date. RVIA
  3. The decline in RV sales is slowing, indicating that the corrective period the RV industry is currently experiencing is getting closer to becoming balanced. RVIA
  4. The RV industry has hit its lowest point and is expected to have a relatively strong fall and winter compared to historical trends. RVBusiness
  5. The RV market is expected to have a little growth and recovery in 2024, with an estimated 370,000 units built and shipped. RVIA
  6. Camping Trailer values were 1.3% higher in the first half of 2023 compared to the same period of 2022. NADA Guides
  7. Truck Campers averaged 2.9% higher in value in the first half of 2023 compared to the same period of 2022. NADA Guides
  8. The decline in RV sales is expected to end soon, with shipments predicted to recover later in 2023 and into 2024 as consumer confidence increases and the ongoing interest in camping and RVing turns into increased RV sales. RVIA
  9. The RV market will remain steady, with RVIA predicting that shipments will increase a bit in 2024. RVIA
  10. Prices of RVs are expected to drop slowly as factories catch up with their backlog and inventory returns to normal levels. RVBusiness
  11. The younger crowd seems to have an interest in the RV lifestyle, which bodes well for the RV industry outlook in 2024. RVBusiness
  12. RV dealerships are overloaded with inventory, with many dealerships trying to push off older inventory. IDS-Astra
  13. Bank repos are up, which adds to the existing used inventory, further depressing prices. IDS-Astra
  14. RV manufacturers have pretty much locked in their 2024 lineups by now. RVBusiness
  15. The world of RV dealerships in 2023 is undergoing a significant transformation, presenting new challenges and opportunities. IDS-Astra
  16. Electric motorhomes were announced and are coming soon. RVBusiness
  17. RV supply has increased, with new models and features hitting the RV scene. RVBusiness
  18. Towable and motorized RVs have experienced nearly identical sales declines of around 16%, indicating a consistent market trend. RVIA
  19. Our latest RV shipment forecast shows that shipments should begin to recover later this year and into 2024 as consumer confidence increases and the ongoing interest in camping and RVing turns into increased RV sales. RVIA
  20. The RV industry had an overall economic impact to the US economy of $140 billion, supporting nearly 680,000 jobs, contributing more than $48 billion in wages and paying over $13.6 billion in federal, state, and local taxes. RVIA
  21. RV factories have been playing catch up for the past couple of years, and it seems they’ve finally made it. RV supply has caught up to (and even surpassed) the demand and it is once again possible to buy a new RV off the lot. National Vehicle
  22. Sales have dropped due to rising fuel costs and RV parts shortages that came to a head in 2022. National Vehicle
  23. Full-time RVing has been forever changed by the pandemic, and the popularity of this lifestyle is not expected to taper off in 2024. National Vehicle
  24. RV parts shortages are expected to fade away as factories are back in full swing and have caught up with their backlog, so inventory should be back to normal within the year. National Vehicle
  25. The RV industry is experiencing a period of transformation, reminiscent of similar shifts in other industries like automotive and hospitality. RV News
  26. RV wholesale shipments have been historically slow, with fewer than 25,000 RVs shipped for the fourth time in the first nine months of 2023. RV News
  27. RVshare, the online RV rental platform, said its latest data revealed Northern California as a top RV travel hub in the U.S. RV News
  28. J.D. Power’s RV Market Insight Report for the third quarter of 2024 found higher interest rates and difficult trade dynamics leading to lower RV valuations. RV News
  29. A new report from Baird and the RVDA found that RV dealers are feeling better about the market’s current conditions than they were a month earlier. RV News
  30. Go RVing Canada has released a consumer study titled “Promoting the RV Lifestyle.” RV News
  31. RV wholesale prices appear to be returning to normal seasonal patterns, Black Book reported in its October RV Market Commentary report. RV News
  32. The RV industry is expected to grow at a CAGR of 6.01% during the forecast period, reaching USD 70907.58 million by 2028. LinkedIn
  33. Supply chain challenges and rising gas prices have tempered RV wholesale shipments since June 2022 following record sales in 2021. Gordon Brothers
  34. Projections suggest RV shipments will decline approximately 8% for the year, and increasing interest rates will likely further slow sales growth. Gordon Brothers
  35. RV shipments increased 7.8% through June 2022 before declining by month end, marking the first year-over-year decrease in shipments since May 2020. Gordon Brothers
  36. The RV Industry Association revised its 2022 and 2023 forecasts, projecting 2022 RV shipments of 498,800 units, which represents a 16.9% decrease from the record 600,090 units shipped in 2021. Gordon Brothers
  37. New offerings geared toward younger consumers and families may support industry growth beyond traditional target demographics to new customer segments, including the 18- to 34-year-olds who now represent 22% of RV buyers. Gordon Brothers
  38. The RV industry is expected to have a little growth and recovery in 2024, with an estimated 370,000 units built and shipped. RVIA
  39. RV prices are expected to drop slowly as factories catch up with their backlog and inventory returns to normal levels. RVIA
  40. The younger crowd seems to have an interest in the RV lifestyle, which bodes well for the RV industry outlook in 2024. RVIA
  41. RV dealerships are overloaded with inventory, with many dealerships trying to push off older inventory. IDS-Astra
  42. Bank repos are up, which adds to the existing used inventory, further depressing prices. IDS-Astra
  43. RV manufacturers have pretty much locked in their 2024 lineups by now. RVBusiness