The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Wed Sep 20, 2017
The Recreation Vehicle Dealers Association of Canada held an Economic Outlook Webinar in conjunction with Wells Fargo Commercial Distribution Finance on Sept. 6.
A summary of what was discussed can be found below.
• In the RV industry, the Canadian Recreational Vehicle Association (CRVA) second quarter report stated positive signs of recovery with a 24 percent increase in wholesale shipments and Statistical Surveys Inc. data pointed to a 7.7 percent increase in retail sales across Canada. However, based on discussions with the dealer and vendor clients, RVDA of Canada expects that high product demand and production capacities may strain product availability.
• In the U.S., fiscal policy discussions on key issues and debates are still ongoing.
• U.S. Consumer confidence is driving an increase in consumer spending.
• Canadian inflation is still low and recent Bank of Canada target rate increases are aimed at removing emergency accommodations implemented during oil industry crunch
• Highly leveraged households may feel burdened with further increases in the target rate.
In addition, some of the poll results conducted during the webinar show that:
• The majority of the participants feel positive about the Canadian economy and the 2018 RV season
• There are plans to order the same or more inventory as last year in anticipation of the 2018 season
• Product availability is expected to be the most significant challenge for next year
To access the recording of the webinar, click here.
To access the presentation slides for the webinar, click here.