2019 And 2020 Projected To Be Fourth and Fifth Best Years On Record
RV shipments are projected to total 416,300 units in 2019, down 13.9 percent from the 2018 year-end total of 483,700 units, before gaining 2.4 percent to 426,700 units in 2020, according a RV RoadSigns Special 2020 Industry Forecast from Dr. Richard Curtin, director of the survey of consumers at the University of Michigan. Those annual totals would rank as the fourth and fifth highest in the last 40 years, trailing only the totals from the previous three-year period that saw the RV industry reach an all-time high.
RV shipments will benefit from renewed growth in wages and employment, low inflation and interest rates, and gains in household wealth through the remainder of 2019. “Heightened concerns about the state of the economy early in the first quarter have been replaced by renewed optimism as wages and employment posted significant increases, unemployment fell to a half-century low and stocks rebounded to new record peaks,” said Dr. Curtin.
The longtime RV industry researcher believes that the right quality and mix of RV products is crucial for attracting and keeping millennials as well as repeat baby-boomer buyers. If that mix is found, according to Dr. Curtin, RV sales will continue to benefit from demographic trends.
View the full quarterly forecast publication, Road Signs.