The strong performance of the RV market will continue in 2014, RVIA President Richard Coon told attendees at “Outlook 2014: Everywhere,” the launch event of the Recreation Vehicle Industry Association’s (RVIA) 51st Annual National RV Trade Show in Louisville, Ky. RV shipments in 2014 are expected to reach 335,500 units representing a 6.1% increase from the projected total for 2013.
Speaking to more than 1,000 RV manufacturers, dealers and industry representatives this morning (Dec. 3), Coon provided an optimistic look at the industry’s future, based on a new projection from Richard Curtin, director of consumer surveys at the University of Michigan, in RVIA’s quarterly forecasting newsletter RV Roadsigns.
The rise in shipments to 316,300 units by year-end 2013 would be a 10.7% gain over the 2012 total of 285,749 and include double digit gains in conventional travel trailers and Class A motorhomes. The industry is poised to surpass 300,000 shipments for the first time since the recession. The expected increase in 2014 would mean five consecutive years of RV market growth.
“RV shipments are growing,” Coon said. “Consumer confidence is growing, credit is available, and RVs are visible, popular and even cool. This is a good time to be in the RV business.”
Shipments are expected to rise in each product category, according to the new forecast, and motorhome growth is anticipated to be particularly strong. In 2013 and 2014, motorhomes are predicted to reach 12% of all shipments – up from 10% in 2012.
The growing strength in RV shipments is due to rising consumer confidence and improved economic conditions; however, lingering uncertainty about government policies and programs could affect the economic outlook, Coon cautioned.
“Our forecasts are affected by the economy,” Coon said. “The economy is improving, but that progress could be undone if our political leaders fail to behave responsibly.”
During his presentation, Coon walked the audience through RVIA’s 2014 projection for each of the major RV product types, which included: travel trailers, 206,100 units; fifth-wheels, 73,000 units; folding camping trailers, 11,000 units; truck campers, 3,500 units; combined towable, 293,600 units; Class A motorhomes, 21,000 units; Class B motorhomes, 2,600 units; Class C motorhomes, 18,300; all motorized, 41,900 units; all RVs, 335,500.
“This has been a good year for sales and for promoting RVs to our core audiences,” Coon said. “There is strong demand for RVs, and I am excited about our industry’s future.”