J.D. Power has released its NADAguides Market Insights for the first quarter and the report found that prices were up across the board year-over-year.
The report started off by noting that “seasonality was somewhat more pronounced in early 2022 than in the previous two years. This dynamic was also present in other specialty vehicle segments. Economic conditions continue to evolve, and it is likely the consumer is responding to some extent.”
Looking at individual segments, the most recent 10 years of standard hitch travel trailer values averaged 5.6 percent higher in the first quarter of 2022 compared to the fourth quarter of 2021.
Year-over- year, standard hitch units brought 30.1 percent more in the first quarter of this year compared to the same period of last year.
Fifth-wheel units averaged 3.6 percent higher this quarter versus last, and 16.9 percent higher year-over-year.
Class A motorhome values averaged 6.4 percent higher this quarter than last quarter, and 16.9 percent higher in Q1 2022 versus Q1 2021.
Class C motorhome values averaged 4.7 percent higher in the first quarter of 2022 compared to the fourth quarter of 2021, and 25.7 percent higher in Q1 2022 versus Q1 2021.
Camping trailers brought 8.4 percent more money in Q1 2022 versus Q4 2021, and 34.7 percent more than Q1 2021.
Truck camper values averaged 5.2 percent higher in early 2022 than late 2021, and 25.1 percent higher in early 2022 versus early 2021.
“Late last year, economic changes such as the end of individual stimulus, increasing competition for consumer dollars from the service and travel industries, gas prices and general inflation had threatened to impact demand for RVs. Nonetheless, we had predicted historically strong values would remain in place,” the report said. “Since that last prediction, the Russian invasion of Ukraine has caused those economic factors to accelerate, and we may be seeing some effect in the marketplace. Upcoming weeks will provide more data.”
