Wholesale RV shipments are expected to reach all-time highs in 2021.
A new forecast predicts even more shipments in 2022.
The quarterly RV RoadSigns forecast, prepared by ITR Economics for RVIA, predicts a 2022 range of shipments between 586,300 and 614,100 RVs. The most likely total, ITR Economics forecast, is 600,200 wholesale RV shipments.
The forecast would be a 4% increase from 2021 levels and the first time the RV industry posted at least 600,000 annual wholesale RV shipments.
RVIA shipment totals date back to 1981. The industry first reached 200,000 shipments in 1984, then took 15 years before crossing 300,000 shipments in 1999. The 400,000 milestone was breached 17 years later in 2106. The next year, wholesale RV shipments crossed 500,000 and projections call for the first 600,000 shipment total in 2022.
“The remarkable production from the RV manufacturers and suppliers is nothing like we have ever seen before, and our new forecast shows the record-breaking streak will continue,” RVIA President and CEO Craig Kirby said. “The demand from these new RV owners, as well as our returning customers, is driving the increased RV production we will continue to see through the remainder of 2021 and into 2022.”
The forecast again slightly revised 2021 shipment projections upward. ITR Economics calls for 2021 shipments between 567,000 and 587,400 RVs, with the most likely total at 577,200.
The company’s previous forecast in June called for a range of 565,848 to 586,281 RVs, with the most likely total at 576,065.
“Faced with many of the same kinds of supply chain and labor issues plaguing most industries over the past year, the RV industry has overcome these challenges and produced a record number of RVs month after month,” RVIA Chairman Jeff Rutherford said. “This forecast shows that while RV manufacturers and suppliers will continue to face these challenges, they will also continue to produce a record number of RVs to meet the record demand from RV consumers.”
The 577,200 total projected for 2021 would be a 34% increase from 2020 and a 14.4% increase from the current record of 504,600 shipments in 2017.
RVIA said factors such as robust demand, dealer restocking needs and sustained outdoors interest will keep shipments elevated. However, supply chain issues, inflation, rising interest rates and slowing economic growth later in 2022 are factors in projecting slower shipment growth in 2022.