Baby Boomers, Economy Drive RV Sales Higher
It may be a perfect storm of sorts – a growing economy and the fact that more Baby Boomers are retiring and heading for the great outdoors. But the net result is a resurgence in recreational vehicle sales of all kinds.
Benzinga reported that from towable campers to motorhomes, fishing boats to pontoons, jet skis to snowmobiles, the recreational vehicle industry did very well last year. Even some vehicles not normally tied to the RV industry, like pickup trucks and motorcycles, saw increased sales.
Tom Walworth, president of Statistical Surveys Inc., told Bloomberg that the total for all new RV units sold in 2013 rose 11% from the preceding year and that sales could top 335,000 in 2014, the highest sales figures in six years.
Walworth said, “All things are a go for the RV industry again.”
The winners include Thor Industries Inc. and Winnebago Industries Inc. as both companies have experienced strong growth.
In addition, because sales of new RVs have been depressed for the past several years, there’s a shortage of late-model used vehicles and trailers on dealer lots. As a result, says Winnebago CEO Randy Potts, many buyers have been seeking out less expensive new options.
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