RV wholesale shipments are expected to hit 350,000 units in 2024, according to the Spring 2024 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 334,700 to 365,500 units with a median total of 350,100 units. This total would represent an 8.8% to 18.8% increase over the 2023 year-end total of 313,200 units.
“RV shipments are trending in the positive direction and on track for the moderate gains ITR Economics is forecasting in this latest report,” said RVIA President and CEO Craig Kirby. “Our data shows a continued desire from consumers to purchase RVs and experience the joys and benefits of the RV lifestyle. We are hopeful that the expected decreases in interest rates and inflation this year will allow more consumers to follow through with their desire to purchase RVs.”
Economic green shoots suggest rising shipments in the coming year, especially housing starts, which trend in tandem with shipments, moving upward in 2024. Interest rates are likely to move lower in 2024, making RV financing more attainable for consumers. Receding inflation and rising incomes will also provide a more favorable environment for discretionary items such as RVs, RVIA said.
Members can view the Spring 2024 issue of RV RoadSigns here and are invited to attend a webinar with ITR Economics for an in-depth explanation of the new forecast Thursday, March 14 at 1 p.m. Eastern. Members can register for the webinar here.