RV wholesale shipments are projected to exceed 600,000 units in both 2021 and 2022, according to RVIA’s Winter 2021 issue of RV RoadSigns. The quarterly forecast is prepared by ITR Economics.
RVIA President and CEO Craig Kirby called the never-before-achieved benchmark “incredible.”
“More RVs will be headed to dealer lots in 2022 than ever before,” Kirby said, “allowing even more consumers to experience the freedom and control of traveling the country in their ideal RV.”
The latest forecast for year-end 2021 RV shipments ranges between and 593,600 and 610,800 units. Analysts predict the most likely year-end total to be about 602,200 units, a nearly 40% gain over the 430,412 units shipped in 2020. The new forecast increased expectations from 577,214 units in the Fall 2021 issue, a boost of 4.3%.
Continued growth is expected through 2022 with shipments ranging between 599,760 and 627,700 units with a most likely total of 613,700 units, an increase of 1.9% over 2021. The Fall 2021 issue called for 600,204 units, with the forecast now increased by more than 2%.
The RV industry first reached 200,000 annual wholesale RV shipments in 1984. It would take 15 years to cross 300,000, when the industry shipped 321,200 in 1999.
The industry would not pass another milestone until 2016, when 430,700 RVs were shipped, the first time more than 400,000 shipments were recorded. The next year, the industry breached 500,000 shipments with 504,600 in 2017. Four years later, the forecast calls for the next milestone to be crossed.
Jeff Rutherford, RVIA chair and Airxcel president and CEO, said the RV industry could see a double-digit growth rate into mid-2022, bolstered by low inventories, strong consumer financial standings and a desire to experience the outdoors.
“Thanks to the RV manufacturers and suppliers,” Rutherford said, “more consumers than ever before will be able to take advantage of all of the benefits of owning an RV.”
RV Industry Association members can view the Winter 2021 issue of RV RoadSigns here.
Members are invited to attend a webinar with ITR Economics for an in-depth explanation. The webinar will begin at 2 p.m. ET Monday, Dec. 6. Members can register for the webinar by clicking here.