Yahoo: RVs Had a Great 2021; More Room to Grow?

Through most of 2020, when people were afraid of the pandemic, recreational vehicles were some of the safe options that allowed people to get out of doors. So many Americans took road trips like in the good old days. Now, despite the fact that vaccinations are available and most people have got their shots, this habit, like online shopping and flexible working seems to have stuck on. So rather than demand dropping off this year with the great reopening, it seems to have gone through the roof. Most of the big RV suppliers have been reporting solid results right through the year. But the question is, will the good times last?

The RV Industry Association’s Oct 2021 survey shows that total RV shipments ended the month at 57,971 units, an increase of 22.5% from Oct 2020 and 18% above the previous record for October achieved in Oct 2017. Production also set a record, exceeding the previous month’s record by 5%. The industry has already built more RVs this year than in any other (and November and December data will add to the total). And it was all done despite supply chain and labor issues. Towable RVs, led by conventional travel trailers grew 23.3%, Motorhomes 14.4% and park model RVs 6.3%.

What’s more, a recent survey shows that more Americans plan on RVing over the next year than ever before. According to the survey, 72 million Americans are planning an RV trip in the next year in an RV they own, rent, or borrow, up 18% from the 61 million reported in the same survey a year ago.

The strength in the market is to an extent related to millennials who are increasingly adopting a mobile lifestyle and the availability of camping grounds across the U.S. is a supporting factor. There is also an increasing trend of renting RVs for special events and festivals, which is expanding the use case. The luxury segment looks particularly attractive in this respect. Rental fleets are therefore being expanded rapidly.

Read the full article from Yahoo! Life here.