According to ITR Economics’ latest RoadSigns forecast, wholesale RV shipments are forecasted to gain nearly 20 percent, to 502,582 units, in 2021 after totaling 423,628 units in 2020.
ITR prepared the Winter 2020 RV RoadSigns report for the RV Industry Association.
The new projection estimated total shipments ranging between 490,300- 515,400 units with the most likely year-end total reaching 502,582 units by the end of next year, an 18.7 percent increase over 2020. Over the next two months, shipments are anticipated to finish within a range of 414,100 to 433,100 units with the most likely outcome being 423,638 units. That total would represent a 4.3 percent gain over the 406,7000 units in 2019, overcoming a nearly two-month RV industry shutdown due to the COVID-19 pandemic.
“The RV industry is on track to break half a million RV shipments in 2021 for only the second time in our history,” said RV Industry Association President Craig Kirby. “The new forecast also shows that 2020 will be the fourth best year on record, surpassing 2019 by nearly 5 percent, despite the nearly two-month shutdown earlier this spring.”
Towable RV shipments are expected to range between 442,200- 465,200 units with a most likely outcome of 453,200 units in 2021 and 376,100- 393,200 units with a most likely total of 384,600 in 2020.
Motorhome shipments are projected to range between 48,100-50,200 units with a most likely total of 49,200 units in 2021 and 38,100- 39,900 units with a most likely outcome of 39,000 units in 2020.
ITR Economics also reported that its system of leading economic indicators is pointing toward positive growth conditions for the RV market. Strong consumer demand and easing supply constraints will also benefit the industry.
RVIA members can view the Winter 2020 issue of RV RoadSigns here.
For those who want a more in-depth look behind the numbers, RVDA will host a members-only webinar to review the new forecast on Tuesday, Dec. 8. It will be hosted by ITR Economics Senior Economist and Econ Manager, Eric Post.
The webinar is from 2–3 p.m. Click here to register.
