RVIA's Coon Offers Bullish Outlook

In remarks at RVIA’s Outlook 2007: Market Expansion Showcase Nov. 28 in Louisville, RVIA President Richard Coon said the RV industry exceeded expectations in 2006 and is well-positioned to continue growing in the future.

Coon reported that wholesale industry shipments were expected to reach 385,500 units by the end of 2006, which would be a slight increase over the record-setting year of 2005 when wholesale units totaled 384,400.

“This should be a very solid year when all is said and done, even though the general sense is that the industry has struggled,” said Coon.  “We are forecasting that we will actually better last year’s totals despite high gas prices, rising interest rates and no hurricanes.”

Coon was also upbeat about 2007 even with projections showing total units falling to 341,600. 

“I personally believe the market strength we’ve seen for the past year will continue to surprise us next year.  Remember at last year’s Outlook event, we were forecasting shipments to decline to 350,000 units,” said Coon.

He listed several positive factors he feels will boost the short term market, including improving dealer inventories, steady interest rates, declining fuel prices, strong consumer confidence, and favorable population trends.

Citing University of Michigan research detailing the favorable demographics and purchase intentions that will impact the RV market, Coon stressed there was ample reason for long-term optimism too.

“Now is not the time to get out of the RV business!”  Coon said.  “Demand for RVs will continue to grow over the next decade, our buyers are becoming younger and more affluent, and, as an industry, we’ve been proactive through national advertising and public relations efforts in reaching out to these potential buyers.”