Vehicle value analytics firm JD Powers trotted out its summation of RV values for May and June. Powers indicates RV values saw two good months, but are still lagging compared to the same months in 2023.
Trailers inching ahead
May and June values for travel trailers headed up 6.1% when compared to March and April sales. Dampening the cheer, values were still down 4.5% comparing the first half of 2024 to the same period of 2023.
Fifth wheels were slower out of the gate. Up 4.1% for May and June, compared to March and April. They outperformed travel trailers in the first-half-year figures up 1.4% over the first-half period of 2023.
Motorhomes
Class A units finally showed some perkiness. The big units were up 3.2% in May-June 2024 compared to March-April. But like travel trailers, they can’t shake the year-over-year doldrums. January through June 2024 was dismally 5.5% lower than 2023.
Class C rigs did a shadow-dance. Values were up 3.6% in the May-June versus March-April race. But first half-year to half-year comparisons were even worse than Class A. Class C units were down in value 7.6% in first-half-of-year comparisons with 2023.
Other non-motorized rigs
Camping trailer values were 7.8% higher in May-June compared to March-April. Dismality sets in with 18.6% lower year-over-year.
Truck campers averaged 4.6% higher in May-June compared to March-April, and 10.8% lower year-over-year.
JD Powers’ “positive spin”
“Inventory continues to build but market conditions in late spring were encouraging. Finance and equity remain headwinds, but demand still exists,” says the Powers’ report. RV values saw two good months, but they’re still behind—in some cases, way behind.
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Thank you, Russ and Tina! 🙂 Hmm, … J.D. Powers’ version of whistling in the dark makes me think that they have a dog in the fight. They have a significant ownership share in some aspect of the RV industry? That closing smacks of spin-doctoring. Interesting. Thanks again, have a great day, safe travels, and safe stays! 🙂
I don’t trust JD Powers figures. it seemed to me they had two different RV Value lists. One used by RV dealers and financial institutions. The other list for us the consumers. The consumers list has higher values and gives extra value for options. But you don’t get the values when trading or refinancing. I learned that in April. Plus It seems JD Powers uses the values from what they’re going for at the auction. Which most people have no access to. If you advertise your RV on RV trader, they recommend a price which seems on the high side.