By the RV Industry Association
RV wholesale shipments are expected to retreat in 2023 in the face of challenging economic conditions, according to the Spring 2023 issue of RV RoadSigns, the quarterly forecast prepared by ITR Economics for the RV Industry Association.
The new forecast projects 2023 RV shipments to range from 324,300 to 344,00 units next year with a mid-point of 334,100 units, a 32% decline from the 493,300 wholesale shipments in 2022.
“ITR Economics’ forecast reflects current market conditions – an uncertain economy, high inflation, and rising interest rates. This is offset by encouraging reports of strong attendance at retail RV shows and traffic on RV dealer lots – both indicating that consumer interest in RV travel and camping has not diminished,” said RV Industry Association President & CEO Craig Kirby. “While we expect shipments to move lower through the first half of 2023 compared to 2022, we see the pace of that decline easing and beginning to recover in the latter part of the year.”
RV shipments are expected to fall through the first half of 2023 as consumers are squeezed by inflation, higher interest rates, and a slowing economy. On the positive side of the ledger, retail inventories are normalizing and reports from RV consumer shows and dealers point toward continued strong interest in RV ownership. Shipments are expected to stabilize in the latter part of the year.
On Tuesday, March 7, the RV Industry Association will host a members-only webinar to review this new forecast and provide insight on how the forecast was developed from ITR Economics. Register for the webinar here.