Yes, there are more RVs on the road today than last year – in fact, for the last eight years. RV shipments are expected to continue to surge to their highest level ever, according to a forecast from the Recreation Vehicle Industry Association. It will be the industry’s eighth consecutive year of gains, reports CNBC.
Thor Industries and Winnebago Industries posted huge growth in their most recent earnings report. “They’ve done massively well because they’ve made massively creative acquisitions,” said Gerrick Johnson, an analyst at BMO Capital Markets.
Sometimes, bigger isn’t always better. The RV industry has figured that out and it has led to record-breaking growth. Much of that growth can be attributed to strong sales of trailers that can be towed behind an SUV or minivan, which dominate the RV market. The industry also is drawing in new customers.
Those shipments are accelerating and should grow even more next year, the group said. Sales in the first quarter rose 11.7 percent from 2016. As the economy has strengthened since the Great Recession, and consumer confidence improved, sales have picked up, said Kevin Broom, director of media relations for RVIA.