JD Power Releases its 2023 Q1 RV Market Insight Report

All segments of the RV market started the year strong, with values increasing into the early spring months, according to the 2023 Q1 RV Market Insight Report released by J.D. Power. Motorhomes and campers are still at or near the 2022 peak, the report continued.

Looking at individual segments, the most recent 10 years of Standard Hitch trailer values averaged 15.6% lower in the first four months of 2023 compared to the same period of 2022, but 1.6% higher than late 2022. Fifth Wheel units averaged 8.5% lower in the first four months of 2022, but 4.5% higher than late 2022.

In the Motorhome segment, Class A vehicles averaged 2.9% lower in the first four months of 2023 compared to the same period of 2022, but 2.0% higher than late 2022. Class C motorhomes averaged 0.4% higher in the first four months of 2023 compared to the same period of 2022, and 3.8% higher than late 2022.

Camping Trailers averaged 3.5% lower in the first 4 months of 2023 compared to the same period of 2022, and 3.2% higher than late 2022. Truck Campers averaged 1.0% higher in the first four months of 2023 compared to the same period of 2022, and 0.5% higher than late 2022.

Despite higher interest rates, increased competition for consumer dollars from travel and services, and a more typical supply of new RVs, values are holding up extremely well. This combination of economic and supply factors points to stabilization followed by a return to depreciation, but for now, take advantage of strong values.

Click here to read the downloadable 2023 Q1 RV Market Insight Report released by J.D. Power.

Source: https://rvbusiness.com/jd-power-releases-its-2023-q1-rv-market-insight-report/