Breaking RV Business News: Industry Sees Record Sales During Pandemic
If there’s one industry that has benefitted enough from the COVID-19 pandemic, it is the RV business. As people became increasingly hesitant to travel via airplanes or cruises, RVs emerged as a safer and more convenient alternative. Not only did RVs offer significant benefits of travel mobility, but they also encapsulated a sense of home and control in the face of uncertainty.
Industry insiders have revealed that the RV business has witnessed record sales during the pandemic. According to the Recreation Vehicle Industry Association (RVIA), RV wholesale shipments climbed to 430,000 units, an increase of 4.5% from 2019. The RV rental market also exploded as more and more people opted for the ‘work from anywhere’ lifestyle. A CNBC report stated that rental bookings had skyrocketed by 1,000% since the pandemic started.
The surge in RV sales and rentals can be attributed to several factors. Firstly, people wanted to feel safe while traveling and avoid crowded areas like airports and hotels. RVs allowed them to be in control of their travel, reducing their exposure to the virus. Secondly, with remote work becoming more common, people could travel the country while working, making it an ideal living situation for those willing to embrace change. Lastly, the RV lifestyle has always spoken to a sense of adventure and the call of the open road. With pandemic-induced travel restrictions, people found solace in embracing this lifestyle.
While RV sales have risen across the board, some RV types have experienced more growth than others. Towable RVs saw an increase of 15%, while motorized RVs increased by 4%. In contrast, truck campers and park models experienced a slight decline.
The future of the RV business looks promising, with several factors driving the industry’s growth. Demographic shifts such as baby boomers entering retirement, and millennials desiring experience over material possessions are expected to continue driving RV sales. Moreover, with remote work becoming the norm, people are more willing to ditch their stationary homes and embrace the freedom of RV living.
In conclusion, the RV industry has been a rare bright spot in the face of pandemic-induced economic uncertainties. With sales skyrocketing and rentals booming, the RV lifestyle has emerged as an increasingly popular living situation. As we gradually ease out of the pandemic, the industry’s growth trajectory is expected to continue, driven by demographic shifts and evolving lifestyle preferences.
