The last few years have not been kind to the RV industry. Sales across the country have dropped by almost half in recent years. In some states like Florida and California, they dropped more than that. "For two and a half years, you couldn't give RVs away," said Randall Eaton of JR Consumer Resources Inc. But things have changed for the better.
Based on new sales data for RV sales in 2010 we have seen an increase around 45% compared to 2009. Sales numbers coming in for January 2011 also look promising. In 2010 RV dealer inventories were low and most dealers were not able to meet the spring sales demand. Today, RV dealers have recovered and inventories are back up with a good selection of models to choose from. RV dealers across the country are reporting an increase in traffic flow to their stores and RV shows are also predicting an increase in attendance this year.
Mr. Eaton said he is seeing the biggest increase in the full diesel motorhomes, which can run as high as $250,000 and up. Motorhome sales in the last two years have really dropped but consumers are staring to consider these types of recreational vehicles. One main reason for the increase according to Mr. Eaton is that motorhome manufactures have spent a great deal of attention to increasing fuel economy and have added more standard features to attract customers.
The main driving force of course is all the baby boomers retiring, which is driving the sales numbers up. Many retires are feeling more confident about the economy and many have recovered a large portion of their investments with the stock market improving.
Mr. Eaton is also seeing an increase in sales for RV travel trailers. "If you've got a young family it's a lot more affordable to camp in a travel trailer than it is to rent a condo or getting in an airplane and flying somewhere." It is estimated that a family of four can save around 20% to 30% compared to renting a hotel and eating out. With this in mind many families are buying affordable travel trailers.
Prices for RVs have held steady in the last two years and many manufacturers have lowered their prices to attract more customers. Now is a great time to purchase an RV. With low interest rates, large inventories and an improving economy people feel more comfortable compared to two or three years ago.
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