J.D. Power Publishes 2023 Year-End RV Market Insights Report – RVBusiness – Breaking RV Industry News
All segments of the RV market are depreciating in a market generally defined by higher supply and tougher finance conditions. However, values are still strong by historical standards, according to J.D. Power’s 2023 Year-End Market Insights report.
Looking at individual segments, thre exeutive summary of the report continued, the most recent 10 years of Standard Hitch trailer values averaged 5.4% lower in the November-December period compared to September- October, and 4.0% lower in calendar-year 2023 compared to 2022. Fifth-wheel units averaged 4.0% lower in November- December compared to September-October, and 2.5% lower in full-year 2023 compared to 2022.
In the Motorhome segment, Class A vehicles averaged 1.1% lower in November-December compared to September-October, and 2.5% lower in 2023 compared to 2022. Class C motorhomes averaged 2.9% lower in November-December compared to September-October, but 1.3% higher in 2023 compared to 2022.
Camping Trailer values were 1.3% lower in November-December compared to September-October, and 3.3% lower in 2023 compared to 2022. Truck Campers averaged 4.5% lower in November- December compared to September-October, but 0.6% higher in 2023 compared to 2022
Travel, fifth-wheel, and camping trailers saw the biggest turnaround in market conditions in 2023, flipping from appreciation early in the year to notable depreciation in the second half. Motorhomes behaved more moderately in 2023, generally losing minimal to moderate value throughout the year and bringing money on par with 2022. Market conditions should continue to correct in 2024 as headwinds increase.
Click here for more detailed information and the full report.
