RV Shipments Projected to Eclipse 500,000 Units in 2021
North American Wholesale RV shipments are forecasted to gain nearly 20% to 502,582 units in 2021 after totaling 423,628 units in 2020, according to the “Winter 2020 RV RoadSigns” prepared by ITR Economics for the RV Industry Association (RVIA).
The new projection sees total shipments ranging between 490,300 and 515,400 units with the most likely year-end total reaching 502,582 units by the end of next year, an 18.7% increase over 2020. Over the next two months, shipments are anticipated to finish within a range of 414,100 to 433,100 units with the most likely outcome being 423,638 units. That total would represent a 4.3% gain over the 406,7000 units in 2019, overcoming a nearly two-month RV industry shutdown due to the COVID-19 pandemic.
In addition, on Tuesday, Dec. 8, the RV Industry Association will host a members-only webinar to review the new Winter RV Roadsigns forecast and provide insight on how the forecast was developed from ITR Economics Senior Economist and Econ Manager Eric Post.
The RV RoadSigns quarterly forecast provides wholesale shipment projections and insight on macroeconomic factors impacting the RV industry. The latest forecast shows RV shipments are expected to surpass 420,000 wholesale units by the end of 2020 and see continued growth in 2021 to more than 500,000 units.
During the 60-minute webinar, participants will hear an in-depth explanation of the new forecast. Eric will review the report’s terminology and methodology, provide a macroeconomic overview, and deliver an analysis of the forecast including supporting evidence and risks. Following his presentation there will be a Q&A session.
“The RV industry is on track to break half a million RV shipments in 2021 for only the second time in our history,” said RVIA President Craig Kirby. “The new forecast also shows that 2020 will be the fourth best year on record, surpassing 2019 by nearly 5%, despite the nearly two-month shutdown earlier this spring.”
Towable RV shipments are expected to range between 442,200 and 465,200 units with a most likely outcome of 453,200 units in 2021 and 376,100 and 393,200 units with a most likely total of 384,600 in 2020.
Motorhome shipments are projected to range between 48,100 and 50,200 units with a most likely total of 49,200 units in 2021 and 38,100 and 39,900 units with a most likely outcome of 39,000 units in 2020.
ITR Economics also reports that their system of leading economic indicators is pointing toward positive growth conditions for the RV market. Strong consumer demand and easing supply constraints will also benefit the industry.
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