If you are one of those RVers awaiting the anticipated slowdown in RV manufacturing, you may have to wait at least a month longer.
The RV Industry Association just announced that manufacturers had their best May on record this year, shipping 50,529 units from factories around the U.S. That compared to 49,241 units shipped from factories in May 2021.
“The summer RVing season is off to an incredible start, with millions of Americans heading to their favorite outdoor destination to spend quality time with friends and family,” RVIA President and CEO Craig Kirby said. “Thanks to the work of RV manufacturers and suppliers, consumers looking to purchase a new RV have more options to choose from as inventory continues to be rebuilt at RV dealerships across North America.”
The May results come at a time when major manufacturers are still chipping away at tens of billions of dollars in back orders. At the same time, dealer lots are still being restocked with new units.
Thor Industries officials have said they plan to start putting the brakes on new manufacturing during the second half of 2022 as inflation and fuel prices begin to take their toll on RV buyer’s purchase intentions.
Towable RVs, led by conventional travel trailers, ended the month up 2.6% compared with May 2021, with 45,608 shipments. Motorhomes finished the month up 3.2% compared with May 2021, with 4,921 units.
RVIA said although shipment results the first five months of the year have been historically strong, the association expects the market to level off from 2021’s record numbers.
Earlier this year (before inflation had really heated up), the RV Industry Association forecasted that total RV factory shipments for the year could top 600,000 units. They’ve since backed off that lofty goal, now projecting somewhere around 550,000 new RVs will be produced this year.
Through May, manufacturers have shipped 279,038 units, an average of 55,808 a month. If the numbers slow down as expected, that monthly average will drop to about 38,670 a month for the rest of the year.