J.D. Power’s RV Market Insight Report for the third quarter of 2024 found higher interest rates and difficult trade dynamics leading to lower RV valuations.
“RV values are still relatively strong,” the report said, “but the market has clearly cooled somewhat in the second half of 2023. Equity challenges combined with a tougher finance environment means dealers are working harder for each sale.”
The report said market conditions should feel like the 2019 RV market, rather than the 2021 market.
Travel trailer values for the past 10 model years averaged 5.5% less in the first 10 months of 2023 than the first 10 months of 2022. Fifth wheel values averaged 1.2% higher in the same period, although the report said a recent pullback brought fifth wheel values to 2022 levels.
Camping trailer values were 1.5% lower in the first 10 months of 2023 compared with the same time in 2022. Camping trailer values have returned to 2021 levels. Truck camper values are 1.8% higher in the same period. However, values are below 2022 levels in the past quarter.
On the motorized side, Type A motorhome values averaged 2.5% lower in the first 10 months of 2023 compared with the same time in 2022. Type C motorhome values averaged 1.9% higher but in the past quarter, those values have evened out with 2022 levels.
The J.D. Power report does not track Type B motorhome values.