War in Europe. Pump prices at all-time highs. Crowded campgrounds with reservations hard to come by. One might think these factors would tend to frighten potential RV buyers. But the latest report on used RV prices at auction seems to indicate buyers aren’t letting themselves be frightened.
Spring drives buyers to dealers
According to BlackBook.com, a vehicle sales number crunching firm, February used auction sales were a mixed bag. “Spring has arrived in many parts of the country, and eager customers are beginning to flock to dealers’ showrooms,” writes Eric Lawrence, the Principal Automotive Analyst for Specialty Vehicles. “Motorhome values bounced back this month after three months of declines, but towables gave back some of the gains they notched last month.”
If you’re in the market for a motorhome, be prepared to pay more. Compared to January prices, motorhomes jumped nearly 11% to an average price of $76,332. Now zoom out a bit, and compare to a year earlier. At that time, the average used motorhome price at auction was $59,092. Prices for motorhomes show a whopping jump!
“Normal showroom traffic”
We would have thought that the huge price in motor fuel would have had a big effect on motorhome and other RV prices. Not so, according to Eric Lawrence. “Inflation and gas prices remain high, and the war in Ukraine has a lot of people concerned, but the dealers we have spoken to report normal showroom traffic.”
And just how old are your average used RVs? BlackBook reports that the average age of motorhomes was 13 years and towables six.
How do you figure? It seems like RV buyers either have a lot of cash to play with, or they’ve got visions of fuel price drops coming soon.