RESTON, Va. — The recreation vehicle industry’s shipments will reach 381,100 units in 2016, a 2.0 percent increase above the 2015 total of 374,246, according to a new forecast from the Recreation Vehicle Industry Association.
The forecast was prepared by RV industry analyst Dr. Richard Curtin, and released at RVIA’s annual meeting held this week in Tucson, Ariz.
“Last year marked the longest period of sustained growth in the past 50 years,” said Frank Hugelmeyer, RVIA’s new president. “The industry has recovered from the recession, and we’re looking forward to sustained growth into the future.”
The forecast total for 2016 is more than double the industry’s 2009 recession low, and is being driven by an improving economy, a deep-seated preference of consumers for the RV lifestyle and innovative RV designs, the release noted.
“The favorable RV outlook is based on continued gains in jobs and wages, as well as low inflation and interest rates,” said Curtin. “Although interest rates, inflation and gas prices will move up in the future, there is no reason to expect a sudden increase during the year ahead.”
The 2016 gains are expected to continue the strong performance of conventional travel trailers, and Type C motorhomes.
The RV industry’s resurgence reflects the ability of manufacturers to quickly deliver new features and options that appeal to changes in the marketplace.
Curtin noted there is a wide band of possible outcomes around the current RV forecast because of unusual levels of uncertainty in economic data and the political arena. These uncertainties are expected to be offset by strong and unyielding consumer preferences for the RV lifestyle, the release explained.
SOURCE: RV Industry Association press release