The retail market for RVs, both new and used, is expected to total around $50 billion this year, with about 80% of that amount coming from the sale of used units, according to Lenny Sims, analyst for used vehicles price publisher NADAguides.com, who was interviewed by The Record of Stockton, Calif.
Last year, when 311,000 new motorhomes and towable RVs were shipped to dealers, the retail market value for new units amounted to almost $11 billion, according to the Recreation Vehicle Industry Association (RVIA).
During the first eight months of this year, total RV shipments were up 1.9%, so it appears the new unit retail market will again be around $11 billion.
However, Sims also told The Record that he believes the RV retail market, both new and used, will balloon to $200 billion in sales by 2010.
The diesel-pusher Class A motorhome segment will be a significant contributor the growth, Sims said. Now, the heaviest volume of the diesel-pusher segment is coaches priced from $175,000 to $200,000, he told the newspaper.
“That market has definitely been driven lately by the boomer generation,” Sims said. “The luxury buyer has changed quite a bit. Through the ‘80s, when we had some economic issues, a lot of people were forced to retire. They sold their homes, bought an RV and full-timed it to go enjoy the world.
“Today, the buyer is quite a bit different – a little younger, 42 and up. He’s more sophisticated, does a significant amount of research. There are a lot more doctors and professionals and it’s been spurred on by 9/11.”