Wholesale deliveries of all RVs tracked by the Recreation Vehicle Industry Association (RVIA) accelerated in October, climbing 30.1% from September and besting the October 2013 total by 11.2%. Total shipments of all RVs were reported at 32,346 units in October, making it the best October in 38 years. On a seasonally adjusted basis, October shipments this year were at an annualized rate of more than 385,000 units. Gains by travel trailers, fifth-wheels and all types of motorhomes led the surge in shipments this month. Year-to-date, total shipments reached 303,698 units, up 9.4% ahead of the first 10 months last year. The October advance virtually assures a fifth consecutive annual increase in RV shipments since the end of the last recession.
Shipments to retailers of all RVs continued their unrelenting gains in July with totals reaching 27,977 units, a 6.7% increase over the same month last year. This was the 31st consecutive month where RV shipments were greater than the corresponding month one year earlier. Conventional and fifth-wheel travel trailers reported the largest unit improvements in July while Class B motorhome shipments were reported with the largest percentage gain over July 2013. On a seasonally adjusted basis, wholesale shipments in July were at an annualized rate of more than 350,000 units, nearly 9% greater than the previous month and ahead of this same month last year by 6.8%. Through July, manufacturers have reported total wholesale shipments of 220,042 units, a gain of 9.4% over this same period last year.
Wholesale shipments of all RVs continued to improve in May, growing to 35,511 units, up 5.1% from last month and 9.1% from a year ago. This was the best May total in eight years and the best single monthly total since March of 2007. On a seasonally adjusted basis, May’s total represented an annual rate of more than 354,000 units.
Year-to-date, shipments have now reached 159,256 units through the first five months of this year, 10.6% greater than this same period last year. Motorhomes continue to grow at a more rapid pace (up 23.3%) while towable RVs remain the largest vehicle category (at 139,553 units).
March wholesale shipments of all RVs advanced 16.4% over last year’s total, rising to 33,678 units. The March total was 9.3% more than one month earlier and the best March shipments since 2007. March towable RVs were reported at 29,558 units, up 14.4% over March one year ago while motorhomes grew 33.5% to 4,120 units. Year-to-date, first quarter RV shipments tracked by RVIA have now climbed to 89,971 units, 13.3% ahead of this same period last year. This was the best start for RV shipments since 2007 with all towables reported at 78,846 units and ahead of last year by 11.2%. All motorhome shipments did even better, gaining 30.9% over first quarter last year in rising to 11,125 units.
Economist Richard Curtin, director of the Consumer Research Center at the University of Michigan, will provide his first projections for 2015 RV wholesale shipments in remarks at the Recreation Vehicle Industry Association’s (RVIA) Committee Week during the Joint Committee Luncheon, taking place from noon to 1:30 p.m. on June 2.
His presentation will also include the latest projections for year-end 2014 totals as well as an examination of the current economic environment and how it is impacting the RV industry.
Curtin authors RVIA’s RV Roadsigns, the association’s quarterly forecasting newsletter and has directed RVIA’s RV consumer demographic research since 1980.
RVIA’s Committee Week 2014 will take place from June 1-5 at the Mayflower Renaissance Washington in Washington, D.C. Over the course of the five-day event, the association’s standing committees, the Executive Committee and the board will meet to set the association’s plans for the upcoming fiscal year. The Go RVing Coalition will also meet on June 2. The event concludes with the board meeting on June 5 where committee recommendations are reviewed.
For more information about Committee Week, contact Doreen Cashion in the meetings and shows department at (703) 620-6003 (ext. 324) or firstname.lastname@example.org.
RV wholesale shipments to retailers zoomed higher in February, climbing 18% to 30,826 units, the largest February total in eight years. Improvements were greatest for motorhomes which grew 31.7% over February last year to 3,737 units while towable RVs expanded 16.4% to 27,089 units. In spite of continued horrid weather across most of the country, February’s wholesale deliveries to retailers brought year to date totals to 56,293 units, an 11.5% gain over the first two months last year. On a seasonally adjusted basis, February shipments were at an annual rate of more than 380,000 units.
Timed with the Recreation Vehicle Industry Association’s (RVIA) upbeat Annual Meeting last week (Mar. 4-8) in Southern California was the release of an equally optimistic spring forecast from veteran RVIA prognosticator Richard Curtin, who predicts that RV shipments will total 339,600 units in 2014, a “healthy gain” of 5.7% over the 321,100 units shipped last year.
While total 2013 shipments were 12.4% ahead of 2012 in an industry finding its way back to pre-recessionary production levels, Curtin expects conventional and fifth-wheel travel trailers to post 4.7% gains in 2014 with motorized RVs experiencing an accelerated hike of as much as 14.3% in the year ahead.
As a result, the share of total shipments represented by all types of motorhomes is expected to rise another percentage point to 12.9% this year, according to Curtin, an economist with the University of Michigan Consumer Survey Research Center.
“The exceptional 2013 gains in motorhome sales have been due to large gains in home and stock values, which are expected to slow but still be positive in 2014,” reports Curtin. “Importantly, the dollar volume of RV sales will grow much more rapidly than units due to a growing share of motorhomes. Strong GDP gains will strengthen job and income growth in 2014. While the availability of credit is expected to improve, there will be growing concerns about when and how fast interest rates will rise.
At the same time, Curtin, in his spring Roadsigns forecast, recognized the obstacles presented by the winter of 2013/2014, one of the toughest in modern memory.
“Winter weather has rarely had such a large impact on the economy,” Curtin observed. “Work hours were curtailed, shipments delayed and shoppers stayed home. Huddled indoors, RVers experienced cabin fever that they knew would be soon relieved by exploring the great outdoors. Far from crimping RV growth prospects, the cure they sought only reinforced their strong preferences for the RV lifestyle.
“The pace of sales has been temporarily slowed by the frigid weather, and larger bills for home heating will initially slow the pace of the rebound for some models,” he added. “Cabin fever also affected RV manufacturers. Many voiced concerns that other industries would like to have: How and when would they make up the lost production to satisfy growing RV demand. Rather than fret about the weather, forward-looking manufacturers focused on communicating with their customers about how the new features of their RVs could promote comfort and enjoyment — no matter the weather. Pacing production to evolving consumer preferences remains critical. Otherwise, today’s cabin fever will morph into discount fever in the fall.”
RV wholesale shipments tracked by the Recreation Vehicle Industry Association (RVIA) reached 321,127 units in 2013, a gain of 12.4% over the previous year. This was nearly twice the annual total of 2009 and marked the fourth consecutive annual increase since the end of the last recession for the RV industry. Monthly totals saw wholesale deliveries climb 14.3% in December, rising to 21,676 units in the latest survey of manufacturers. This was the largest December total in six years and marked the 24th consecutive monthly increase dating back to December 2011. Seasonally adjusted, the December 2013 total was at an annualized rate of nearly 350,000 units. Towable shipments were at 18,776 units, up 11.6% over this same month last year while motorhome totals surged 35.3% to 2,900 units in the final month of 2013.
Wholesale shipments to retailers of all RVs were reported at 21,748 units in the November survey of manufacturers, an increase of 5.8% over November one year earlier. Towable RVs improved 2.4% to 18,711 units with motorhomes climbing 32.3% to 3,037 units. Seasonally adjusted, November’s totals reached an annualized rate of more than 366,500 units, second only to last month’s 390,000 unit performance so far in 2013. Year to date, total shipments have grown 12.2% to 299,451 units through November 2013, the largest total in six years. Shipments of all towable RVs have risen 9.7% to 264,019 units while motorhome shipments have shoot up 36% to 35,432 units, both were six-year bests.
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.”