RV wholesale shipments are expected to hit 350,000 units in 2024, according to the Winter 2023 issue of RV RoadSigns, the quarterly forecast prepared by ITR Economics for the RV Industry Association (RVIA).
The new forecast projects 2024 RV shipments to range between 343,900 to 356,300 units with a median total of 350,100 units. This total would represent a 11.8% to 15.8% increase over the expected 2023 year-end range of 302,100 to 313,400 units with a median total of 307,700 units.
“While the past year has presented macroeconomic challenges for the industry leading to shipment declines, this latest forecast indicates a poised recovery with anticipated moderate increases in 2024 and a subsequent accelerated growth trend in the latter half of the year,” said RV Industry President and CEO Craig Kirby. “The affordability and convenience of RVing has an enduring appeal, and our research shows consumers’ continued interest in RVing, and a steadfast desire to embrace outdoor experiences while spending quality time with family and friends.”
High interest rates, declining consumer buying power and built-up RV inventory led to a decline in RV shipments for 2023. However, with the run up in interest rates subsiding and continuing to dissipate throughout 2024, green shoots are emerging with wholesale shipments expected to transition to a growth trend in the latter half of next year.
RV Industry Association members can view the Winter 2023 issue of RV RoadSigns here.
The association held a webinar with ITR Economics today, Dec. 7, at 1 p.m. Eastern to give members an in-depth explanation of the new forecast.