The RV and travel trailer industry benefited from the shift from air travel to road travel in 2020, according to J.D. Power’s year-end report. Every segment of the industry saw values increase in 2020, with most segments not seeing any seasonal pullback in values.
Looking at travel trailers, standard hitch units brought 7.4 percent more money in 2020 than 2019, and that gap widened in the second half of the year. Fifth-wheel units had already started the year strong before COVID hit, and really took off as the year progressed, averaging 13.7 percent more money year-over-year.
Motorhomes beat 2019 by a notable margin, with Class A vehicles coming in 4.9 percent higher year-over-year, and Class C units were 5.4 percent higher.
Smaller vehicles were also stronger in 2020, with camping trailers averaging 2.6 percent more money in 2020, and truck campers 7.1 were percent ahead. Both of these segments saw values continue to increase through the fourth quarter, with no traditional seasonal pullback.
In the 2020 Year-End Review RV Market Insights, analysts from J.D. Power Specialty Valuation Services said that used RV pricing increased overall as more consumers entered the RV market amid air travel restrictions. Used values are also being pushed up due to lack of new inventory.
“Every segment of our industry saw values increase in 2020, with most segments not seeing any seasonal pullback in values,” said Lenny Sims, vice president business development and strategy at J.D. Power Specialty Valuation Services. “Standard hitch units brought 7.4 percent more revenue in 2020 than in 2019, and that gap widened in the second half of the year. Fifth-wheel units had already started the year strong before the pandemic hit, and the segment really took off as the year progressed, averaging 13.7 percent more revenue year over year.”
“The RV industry continues to benefit from the shift to experience-oriented road travel,” the report concluded. “2021 begins on strong footing.
(The following graphs are courtesy JD Power.)
