The retail market cooled off during July with sales figures for motorhomes and towable RVs coming in below July 1999 levels, according to Statistical Surveys Inc., an independent market research firm.
Towable RV sales were down 1.9% in July to 24,151 units, compared with 24,627 units retailed a year earlier, the Grand Rapids, Mich.-based company reported.
However, during the first seven months of this year, retail sales of towable RVs were up 5% to 141,134 units, compared with 134,411 units sold during the first seven months of 1999.
Meanwhile, the motorhome segment experienced a greater amount of difficulty, Statistical Surveys reported.
Motorhome sales were down 10.6% in July to 5,270 units, compared with 5,892 units sold a year earlier.
After the first seven months of this year, motorhome sales were down 2.4% to 35,818 units, compared with 36,715 units retailed a year earlier.
Lower RV retail sales during July suggests Federal Reserve Board’s higher interest rate policy was beginning to slow the rate of economic growth, according to Statistical Surveys General Manager Tom Walworth.