RV Sales Report and Industry Update: August 2024

With just one month left of prime camping season, many RVers are taking last-minute trips and making the most of summer.

But have you wondered how the RV industry has been performing during this peak season and what the latest trends mean for your next RV adventure?

At Bish’s RV, along with our good friend, Josh the RV Nerd, we’re always trying to stay on top of the latest RV news and trends – and when we find out something new, we’re always happy to pass it on to you.

So keep reading to get the inside scoop on all the factors driving market changes and how you can make smart decisions in this rapidly shifting market.

Josh the RV Nerd breaks down all the Sales Numbers and latest trends in his RV Industry Update Video.

New RV Shipments

Used RV Values

New RV Shipments vs. New RV Sales

Is Now a Good Time to Buy an RV?

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New RV Shipments

(How Many New RVs are Dealers Adding to Their Inventory?)

RV shipments are the RVs dealers buy from manufacturers to sell on their lots.

Looking at shipments can tell us how RV dealers anticipate their sales to be based on current market conditions. The more they buy, the more likely they believe they will have good sales.

A Look at Year-to-Date RV Shipments

RV Sales data from RVIA is released 2 months after sales. Current data is up-to-date through June 2024.

Overall, the RV industry is producing slightly more this year compared to last year, but don’t let that fool you into thinking everything is rosy.

This uptick is almost exclusively carried by travel trailers, which are up an impressive 19% compared to last year. It’s like having one superstar athlete carrying the entire team – you start to wonder if their back hurts from all that weight.

Fifth wheels, on the other hand, are mostly holding steady with a slight increase. They’re like the reliable team players who show up, do their job, and keep the game going.

However, everything else, ranging from popups to truck campers and all motorhomes, is down harshly.

It seems consumers are focusing on more affordable options, and nothing provides the same “bang for the buck” as a travel trailer.

A Closer Look at 5th Wheels

The New Model G 3250 Luxury 5th Wheel from Brinkley RV.

But let’s dive deeper into the fifth wheel market, where we see an interesting tale of two cities.

The lower price segment of fifth wheels, generally around the $40,000 to $50,000 range, is doing okay. And strangely, the very upper segments are also doing well. It’s the middle ground that’s struggling.

Folks are either seeking something more budget-accessible or looking for a home due to housing pressures.

Motorized RVs

The Newmar Bay Star Class A Motorhome.

When it comes to motorized RVs, the news isn’t great. Production is down painfully across the board, even after being down the previous year. Class C motorhomes are faring better but are still down over 16% in production.

Overall RV Shipments compared to last year.

New RV Shipment Key Points:

Travel trailer production volume up 19% vs last year
Fifth wheels mostly holding steady, slight increase
Everything else (popups, truck campers, motorhomes) down harshly
Consumers seeking more affordable options
Lower price and very high-end fifth wheels doing okay
Middle ground fifth wheels struggling
Motorized RVs down, with Class C’s faring better but still down over 16%

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Used RV Values

Bar graph of Used Towable Sales data 2023 vs 2024

On the used market side, we’ve seen some interesting shifts.

After several months of consistency, used motorhome values jumped, mainly due to a big flurry of sales of high-end Class A’s finally selling after sitting at auctions for a while.

Towables slid down a bit, which is unusual for this time of year, despite higher auction volumes.

More than 11% more units were sold this year compared to last year, but the pressure from the new RV market’s focus on budget offerings and current market demand has really pushed used market pricing downward.

With the 2025 models starting to make their way onto lots, it’s expected that these values will slip a little more as the season comes to an end.

So, if you’re in the market for a used RV, keep an eye out for some potential deals!

Bar graph of Used Motorhome Sales data 2023 vs 2024

Used RV Values Key Points:

Used motorhome values jumped due to high-end Class A’s sold after sitting at auctions
Towables slid down despite higher auction volumes (11% more units sold)
Pressures from new RV market’s budget offerings pushing used market prices down
2025 models’ arrival expected to push values down further as the season ends

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New RV Shipments vs. New RV Sales

It’s important to remember – RV shipments do NOT mean RV sales.

The most recent stats paint a less-than-awesome picture.

Travel trailers, which are easily the largest volume segment, are down 12% from 26,327 to 23,203 units.

Fifth wheels are down even more, with a 15.9% decrease from 6,375 to 5,364 units.

Over in the motorized segment, it’s even tougher.

Class A motorhomes are down 20% from 885 to 708 units, Class C’s are down almost 22% from 2,285 to 1,784, and the Class B “van life” trend is trending out, down nearly 30% from 1,251 to 878 units.

This has created an interesting interaction between dealers and RV manufacturers.

Manufacturers who build “open” units are cutting major deals to get unsold units off their books.

Over the past month, dealers have sold more than they’ve brought in as they try to “lean out” their lots to make room for incoming 2025s.

However, over the course of this year, dealers have brought in 1.5% more inventory than they’ve sold nationally.

While that’s not a huge percentage, anytime I see more RVs built and at a dealer lot than selling, I raise my eyebrows.

So, on the whole, dealers have more in stock now, and the 2025s are about to come piling in.

New RV Sales Key Points:

Travel trailers down 12% (from 26,327 to 23,203 units)
Fifth wheels down 15.9% (from 6,375 to 5,364 units)
Popups down nearly 30% (from 727 to 513 sales)
Class A motorhomes down 20% (from 885 to 708 units)
Class C motorhomes down almost 22% (from 2,285 to 1,784 units)
Class B vans down nearly 30% (from 1,251 to 878 units)
Manufacturers cutting deals to clear out 2024 models
Dealers sold more than brought in over the past month but brought in 1.5% more inventory than sold over the year
Dealers have more stock now as 2025 models arrive

Is Now a Good Time to Buy an RV?

As we dive into the question of whether now is a good time to buy an RV, it’s clear that the answer depends on mulitple factors.

There’s never a universally “right” or “wrong” time to buy; it ultimately comes down to your personal readiness and specific circumstances.

If you buy now, you’ll still have some good camping season left to enjoy, even though values might have slipped.

However, with the new 2025 models arriving, used prices and new 2024 inventory values are likely to dip further.

Waiting a couple of months could save you some money, but you might not get much use out of your new RV before having to winterize it.

Dad and 2 sons outside Jayco Jay Flight SLX

Key Points to Consider When Buying an RV:

Immediate Use: Buying now allows for end-of-season camping.
Potential Savings: Waiting might lead to better deals on 2024 and older models.
Seasonal Storage: Purchasing in fall means dealing with storage and winterization sooner.
Spring Price Increase: Prices often rise in spring, but you’ll avoid winter storage hassles.
Financing: Attractive financing options are available for RVs within 5 years of brand new.

Ultimately, the best time to buy is when you’re ready and find a deal that fits your needs and budget.

Next Steps for Buying or Selling Your RV

The RV market is full of ups and downs, making it challenging to predict sales accurately.

At Bish’s RV, we stay on top of all the latest market news and are always happy to share our insights with you. Whether you’re looking to buy, sell, or simply stay informed, we’re here to help.

Now that you know the latest RV industry sales numbers and understand the varying factors affecting RV pricing you are prepared to decide if now is a good time to buy or sell an RV.