RV Shipments See First Quarter Increase
May 17, 2012
Filed under RV News
Recreational vehicle shipments continued to trend upward in early 2012 despite a jittery economy and elevated fuel prices, according to market data collected by Recreation Vehicle Industry Association (RVIA). Wholesale shipments to retailers in March reached 28,100 — the best March total since 2008. In February, manufacturers shipped 24,600 units, giving the industry its best two-month period since 2008.
Through the first quarter of 2012, RV shipments were up 9.7 percent from 2011. Shipments for all of 2012 are projected to increase 5 percent from 2011. The projected total for 2012 is up 39 percent from the 2009 recession low.
“RV ownership continues to rise in large part because of the versatility and affordability of today’s RVs,” RVIA President Richard Coon said. “While the recession created new economic realities for most Americans, RV manufacturers responded by designing products with the right mix of space, amenities and price points, further positioning RVs as the ideal way for families to share outdoor experiences together.”
In addition to popular traditional motorized products, much of the growth in shipments is in the towable RV category. Many of the new products offered by RV manufacturers include units that are smaller, lighter, more aerodynamic and more fuel-efficient. These lighter travel trailers help reduce fuel consumption and allow them to be towed by smaller passenger vehicles.
Rising shipments are good news for Elkhart, Ind., where more than 80 percent of RVs are manufactured. Elkhart unemployment dipped below 10 percent in March for the first time since reaching more than 18 percent during the recession in 2009.
Several RV makers are upping their sales forecasts for 2012, and some have taken steps to increase manufacturing capacity to keep pace with demand. For example, Thor Industries broke ground in April on a 93,000-square-foot facility in northern Indiana. Forest River recently purchased a 135,000-square-foot facility, and will soon begin construction on a new 100,000-square-foot plant.
While shipments continue to rise, RV owners plan to hit the road in a big way this spring and summer. In a March Campfire Canvass survey by RVIA and Cvent of existing RV owners, 64 percent said they plan to use their RVs more this spring/summer than they did last year and 24 percent said they’ll use theirs the same amount. Seven percent indicated they would use their RVs less.
More than half (58 percent) said fuel prices would affect their RV travel plans. Respondents indicated they still plan to travel by RV, but that they’ll adjust by traveling to destinations closer to home and driving fewer miles.