The recreation vehicle (RV) industry’s shipments will reach 472,200 units in 2017, the highest annual total since the data has been collected, and a 9.6% increase from the number shipped last calendar year, announced Frank Hugelmeyer, President of the Recreation Vehicle Industry Association (RVIA).
According to a new forecast presented today by Hugelmeyer at RVIA’s Committee Week luncheon, RV shipments are expected to reach even greater heights in 2018, with wholesale production projected at 487,200 units.
Shipments totaled 120,866 in the first quarter of 2017, an increase of 11.7% from 2016. This represented the highest shipment rate of any quarter since 1981, with the monthly totals rising throughout the quarter for all types of RVs. The quarterly gains were widespread, with type B and C motorhomes up by more than 30% from the previous year, and conventional and fifth-wheel travel trailers up by 10%. Shipments of folding camping trailers and truck campers fell 10% from 2016.
“Our industry is in an era of unprecedented growth,” said Hugelmeyer. “We are poised to record an eighth consecutive year of shipment gains, mainly due to product innovations that appeal to retiring baby-boomers as well as younger buyers. The recession is in the rearview mirror. This is a new era for the RV industry.”
According to Hugelmeyer, the new expected peak in 2018 will mark a ninth consecutive year of expansion. The previous record of five years was set from 2002-2006.
The favorable RV outlook is based on continued modest gains in wages and household wealth and relatively small expected increases in inflation, interest rates and energy prices. Increased unit sales have expanded the ranks of active RVers, who have traditionally become repeat buyers. The current record expansion will help to bolster sales in the years ahead.