RVIA: Shipments Should Continue to Normalize in 2023
RV wholesale shipments will normalize to pre-pandemic levels in 2023, according to the December 2022 issue of RV RoadSigns, the quarterly forecast prepared by ITR Economics for the RV Industry Association (RVIA).
The new forecast projects 2023 RV shipments to range from 379,200 to 403,600 units next year with a most likely year-end total of 391,499 units. This would represent a 21% decline from the expected 2022 year-end total of 495,300 units. The 2023 forecast would be in line with the shipment total of 406,070 in 2019.
“While the RV industry is not immune from the effects of larger macroeconomics factors impacting consumers and the economy, this forecast shows the RV industry is continuing to normalize to pre-pandemic shipment levels,” said RVIA President & CEO Craig Kirby. “The long-term health of the industry remains strong thanks to the droves of younger and more diverse buyers who have entered the RV lifestyle over the past few years.”
RV shipments are expected to continue to retreat through the first half of 2023 due to economic headwinds to consumer finances stemming from inflation, financial market weakness, and higher interest rates. The industry will begin to recover in the latter half of 2023 with shipments expected to trend upward.
RV Industry Association members can view the Winter 2022 issue of RV RoadSigns here.
Members are invited to attend a webinar with ITR Economics for an in-depth explanation of the new forecast at 2 p.m. (Eastern), Wednesday, Dec. 7.
RVIA members can register for the webinar here.
Source: https://rvbusiness.com/rvia-shipments-should-continue-to-normalize-in-2023/
