Today’s video comes from “Beggs Black Book” offering a monthly analysis of the wholesale specialty vehicle market. The average auction prices of used motorhomes and towables dropped dramatically last month, but a closer look at the data reveals some insight that takes away some of the sting of the bad news. Motorhomes came in at an average selling price at auction of $35,899, which is $3,313 (9%) less than last month’s $39,212. Towables, including travel trailers, fifth-wheels and camping trailers, dropped to $10,218, a decrease of $1,029 (10%) from last month’s $11,247. For reference, one year ago motorhomes were selling for $41,652 and towables were $11,195. Although those look like huge declines at first glance, they are not as bad as they seem. The average motorhome sold for 97.41% of its Black Book RV Guide value last month, down only slightly from 99.20% two months ago. Towables came in at 100.42% of their Black Book value, as opposed to their earlier ratio of 103.88%. So what does this tell us? Clearly, the market has declined a few percentage points, but what is really going on is that this past month more lower-end units were sold than had previously. Ricky Beggs covers towable and motorized RVs, along with heavy-duty trucks, motorcycles/powersports and collectible cars. To access the video click here or scroll to the right side of the RVBUSINESS.com home page.
Click here to watch the latest Specialty Market video from Ricky Beggs and Black Book. He covers RVs, heavy duty trucks, motorcycles/powersports and collectible cars. The RV segment starts at the 3:42 mark.
Click here to see the first monthly video market update released on April 1, courtesy of Black Book, focusing on the speciality vehicle market, including RVs. The videos are posted on Black Book’s homepage. A transcript of the portion focusing on RVs follows.
The RV market is making a major recovery from the economic crisis from 2008. New and used RV sales plummeted even more than the auto industry during the past few years. The sales at special RV auctions continue to show strength as the one- to four- year-old models are great alternatives to new. As Eric Lawrence, the editor of the quarterly updated, electronic-delivered RV Guide has been tracking the market he commented: “There is a lot of pent up demand out there. For the last several years, consumers have been holding back on big ticket items. Many felt that the economy was too shaky to make a long term financial commitment, but the economy seems to have leveled off and is showing some signs of health, so consumers are starting to break out their checkbooks again and are buying some of the luxury type items that they had been holding off on.”