New RV shipments from manufacturers to dealers are continuing the same trend they have for months. If you’re big into manufacturing motorhomes, you’re in big trouble. Manufacturers who turn out travel trailers and fifth wheels are feeling hopeful. Let’s break down the numbers from the RV Industry Association’s May 2024 survey of manufacturers.
New RV shipments—the devil is in the motorized details
Overall, the RVIA had reason to say, “Shipments are continuing to show moderate increases over last year,” through its CEO and President Craig Kirby. That’s the good news side as, overall, 7.2% more RVs rolled from builders to dealers. The end of the month total was 33,150 rigs, compared to 30,919 shipped in May 2023. But, as always, the devil is in the details.
That 7.2% would have been a lot bigger had the “motorized” end of the market been taken out of the equation. Motorhomes dragged the month down more than 31.2% compared to May last year, with 2,973 units heading out of the factory doors.
Breaking it down further still, Class B rigs took a bath, dropping nearly 36%, moving only 3,895 units. That’s far from the 5,807 that went to dealers in May 2023. Class C units, too, continue to be “boat anchors,” as shipments of these normally popular rigs were down more than 31% compared to May 2023 movements. Finally, Class A motorhomes did better—in a relative way—losing only 26%. As we’ve repeatedly said, this is NOT a good time to be a motorhome manufacturer.
Towables float industry’s salvation
From boat anchors and baths to what’s keeping that 7% overall upward movement moving—towables. New RV shipments of fifth wheels and travel trailers were the industry’s salvation in May.
This year, nearly 108,000 travel trailers have traveled from plants to retailers. That’s impressive, since the first five months in 2023 saw far less—90,318 moved out. So, comparing year-to-date totals for 2024 to 2023, there’s been an overall increase of close to 20%. Looking at May this year versus last year, a 15.6% betterment.
And fifth wheels? They’ve been lagging in this year’s race, but May saw them make some gains. This month they were up 11% compared to May 2023. Still, their first five-month comparison was paltry, less than 5% in the plus column.
But on the other hand
Other non-motorized wholesale movements took the opposite tack. Pop-ups continue to sag, losing close to 32% comparing May 2024 to May 2023. Truck campers also lost out, dropping more than 18%. And what about park models? They lost more than 24% in the same monthly comparison. Park models had little to cheer about this year, down 30.9% for the months January to May.
It’ll be interesting to compare these new RV shipments to the May figures for actual retail sales. Will we see a corresponding increase in retail buyers, or are RV lots stacking up with new units, with RV dealers acting as warehouses? We’ll see when those numbers come in.
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Thank you, Russ and Tina! 🙂 Interesting data. Thanks again and SAFE travels! 🙂
I recently drove the I-15 corridor from southern NV to MT and the RV dealerships I passed were packed! Some even had units in adjacent parking lots.
I looked at some dealers online and they still had brand new 2023 models for sale, marked down a lot. Then I read one comment on a Facebook page about someone that bought a year or two old brand new RV and when they asked for warranty work, they were told it had expired! According to that manufacturer if the rig sat on the dealer’s lot for a year the clock was running! So, buyer beware.