RV PRO

January '21

Issue link: https://nbm.uberflip.com/i/1320550

Contents of this Issue

Navigation

Page 77 of 172

rv-pro.com January 2021 • RV PRO • 71 • Tightening credit and availability of credit for consumers looking to buy Camping Grows Significantly in Popularity One of the largest components of our 2021 forecast thesis is the fact that camping continues to grow in popularity across the U.S. As highlighted in the fall update of the North American Camping Report by Kampgrounds of America (KOA), camping is extremely appealing right now, as it allows people to change their surroundings without significantly increasing their risk of contracting COVID-19. This has resulted in a significant increase in the number of camping trips people have taken in the past year, a trend that should continue through 2021. Almost half of the people surveyed for the report went camping for the first time, or restarted after being away from the hobby for years. Of particular interest was the fact that 55 percent of first-time campers were Millennials. All of these factors together paint a compelling picture of continued RV growth in 2021, even after considering the risks mentioned above. 2020 Recap: Where Have We Been? Much of the 2020 unit growth has been in the middle price tiers ($20k to $40k) of the travel trailer segment. Our forecasts estimate that this sizeable seg- ment of the market grew more than 18 percent in 2020. Upper mid-price tier ($40k to $60k) travel trailers also were up significantly, growing 17 percent on a year-over-year basis and up 50 percent versus 2018. On the motorized side, Class A moto- rhomes took a hit, being down 7 percent versus 2019 and down 18 percent versus 2018. Meanwhile, Class B sales were up 24 percent versus 2019 and up 30 per- cent versus 2018. Class C motorhome sales were up 9 percent versus 2019 but down 3 percent versus 2018. 2021 Projections Are Bright We project Statistical Survey official U.S. retail numbers will show approxi- mately 458,000 units being sold in 2020 (see Figure 1 on page 70). This would rep- resent 11 percent growth over 2019 retail unit sales of 413,000. This would also be about 4.5 percent above the U.S. retail highwater mark of 438,000 units in 2018. 2021 Forecast: Where Are We Going? Our 2021 forecast projects strong, sus- tained consumer demand and new RV unit retail growth. We are projecting 2021 retail units of 484,000, representing 5.6 percent growth over the 2020 forecasted finish of 458,000 units. In addition to increased units, we are also projecting a return to normal industry 2021 RV Retail Unit Forecast by Market Figure 2 Editorial Contacts Mike Clark Mike Clark Contributing Editor Contributing Editor mclark@nbm.com (800) 669-0424, ext. 246 rv-pro.com Reach more RV Pros! Tony Kindelspire Tony Kindelspire Digital Content Editor Digital Content Editor Email Press releases to: tkindelspire@nbm.com (800) 669-0424 ext. 213 Meet the Meet the RV PRO RV PRO Team Team

Articles in this issue

Links on this page

view archives of RV PRO - January '21