As we near the end of this year, the RV industry continues to determinedly hold its ground in the face of the uncertain, volatile economic environment hampering business both nationally and globally.
Today’s ever-changing business and media environment is one that increasingly demands immediacy, making it easy for all of us to lose perspective. We must not overlook the fact that nearly 250,000 RVs will be shipped to RV dealers this year, finding their way into the driveways, as well as the hearts and lives, of our customers.
And, even with the monthly and annual fluctuations of RV shipments tracked by RVIA, RV ownership has steadily grown to a new peak with 8.9 million households now owning an RV, according to RVIA’s latest RV Consumer Demographic Profile being released this fall. That is up from 7.9 million households in 2005 and 6.9 million in 2001. These record ownership levels reflect the enduring appeal of RV ownership, despite economic challenges.
RV ownership rates have surged among adults aged 35-54 and those over 55, according to the research. In the 35-54 demographic, RV ownership rose from 9.0% of vehicle-owning households in 2005 to 11.2% today. Among those 55 and older, ownership rates grew from 8.6% to 9.4% of vehicle-owning households.
Also promising are the future purchase intentions the study identified among new market entrants as well as current and former owners. A total of 21% of all U.S. households expressed interest in purchasing an RV sometime in the future. This is on par with the 23% rate in the 2005 study and ahead of the 16% rate in the 2001 research. These purchase intentions won’t be realized overnight, but they offer encouraging long term indications that there will be continued strong demand for RVs in the years ahead.
Considering these findings along with the feedback I’m hearing from RV manufacturers, suppliers and dealers, I believe that the RV industry has a bright, promising future, particularly if we continue to work together in unity and concert as we always have. As we say goodbye to 2011 and look ahead to a new year, RVIA remains as committed as ever to working with our industry partners – RVAA, RVDA and ARVC – to realize that future.
Richard A. Coon
President
RVIA
Recent Comments