RV Sales Report and Industry Update: September 2024

Written by Greg Long

RVs parked on crowded street with text, "RV Sales Report. How bad are RV Sales?"

Are you curious about how the rollercoaster of market conditions is impacting RV sales?

Wondering if now is the right time to buy or sell your RV?

In this September RV Sales Report, we’ll break down the latest trends in RV sales, examining the health of RV dealers and manufacturers during an election year marked by economic uncertainty.

By the end of this report you’ll have a clear picture of the market landscape, so you can make smart decisions about purchasing or selling your RV.

Watch Josh the RV Nerd’s Full RV Industry Report now!

New RV Sales

Used RV Sales

2025 Sales Predictions

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New RV: Sales and Shipments

Shipments vs. Sales: Unpacking the Real Story

When it comes to RV sales, it seems like everyone has a different take. Depending on who you talk to, some say everything is going great, while others claim the industry is in a tailspin.

The reality, however, lies somewhere in between.

Let’s start by establishing a baseline. Throughout 2024, RV shipments from manufacturers to dealerships have been on the rise every single month compared to 2023.

(Data for this report comes from RVIA- The RV Industry Association.)

line graph- RV Shipments this year vs last year

RV Sales Data typically takes 2 months to be gathered and compiled on a national level.

While some months were close, every single month has seen an increase. Last year, many dealers were sitting on painfully aged inventory, which led them to hold off on reordering.

Now, they’re placing orders at a more consistent rate to keep their inventory levels balanced.

However, I’m predicting that shipments will be sluggish in the first quarter of 2025. Why?

The RV Industry Association (RVIA) is standardizing the major model year shift to June, which will likely result in dealers getting through show season, ordering safe inventory, and then holding off until they can stock up on new models mid-summer.

This means we could see a spike in shipments next summer as dealers replenish their shelves with the latest and greatest.

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Understanding the Difference: Shipments vs. Sales

Before diving deeper, it’s crucial to understand the difference between shipments and sales.

Shipments refer to the number of RVs that manufacturers send to dealerships. These numbers give an indication of how much product is entering the market.
Sales, on the other hand, refer to the number of RVs actually purchased by customers. This is the true measure of market demand and consumer interest.

New RV Shipments: The Current Landscape

Table of 2023 shipments vs 2024 shipments

As mentioned, new RV shipments have been on the rise throughout 2024, largely driven by travel trailers, which are currently carrying the industry on their back.

Despite this increase, the overall picture is a bit bleak for other segments, with most seeing significant declines.

Fifth wheels, for instance, are just barely keeping their heads above water, while motorhomes are facing an extremely tough year.

This big drop in motorhome sales has led to some chatter in the motorized RV community about potential brand consolidation if these trends continue.

While some industry voices are quick to tout the positives—like shipments being up 17.5% compared to last year—it’s important to look at the whole picture.

Yes, shipments are up, but the most recent stats show that RV sales are actually down 20.7% compared to 2023.

So while it might seem like the industry is booming based on shipment numbers alone, the reality is more complex.

family outside Chaparral RV — **Given current market conditions, NOW is the best time to buy an RV.**

New RV Sales: A Closer Look

Despite the increase in shipments, new RV sales haven’t kept pace.

New RV Sales

The most recent sales data from July 2024 shows that:

Nearly 189,000 RVs were sold
Only about 179,000 RVs were built during the same period.

Interestingly, this means that the industry has sold over 10,247 more RVs than it has produced through July of this year.

This reflects a trend where dealers are reducing inventory to navigate current market conditions and minimize the impact of rising interest rates on their inventory floor planning.

In floor planning, dealerships essentially finance their inventory through loans, paying interest until the RVs are sold.

Given the current economic climate, dealers are keen to keep this interest burden low by reducing the amount of stock they carry, which is why we’re seeing sales outpacing shipments.

family sitting outside Reflection 5th wheel

Used RV Sales: Falling Prices Amid Budget Focus

Turning to the used RV market, we see a different story.

The trend towards budget-focused new campers has put downward pressure on used camper prices.

Unlike the past, where used campers might have fetched higher prices due to demand, the current market sees them priced more affordably than their new counterparts.

Prices for used campers are primarily determined at wholesale auctions, where they are sold to dealers.

These auction prices set the benchmark for the going value of used campers in the market.

Recently, these prices have been steadily falling, driven by an influx of budget-friendly new models that appeal to cost-conscious consumers.

For all the details on how used prices are determined, check out our article How to Get the Most Money for Your Used RV.

Pimped out camper with retro 50s decor — **Used RVs don’t necessarily mean bad-condition. Some RVers have upgraded their RVs for super luxury!**

Predictions for Future RV Sales

Looking ahead, several key factors will likely shape the trajectory of RV sales. While predicting the future is always a bit of a gamble, certain trends and market conditions provide clues about what we can expect:

Model Year Shift Impact:
- Early 2025 Slowdown: With the RVIA moving the major model year change to June, we predict a sluggish first quarter for shipments. Dealers will likely focus on selling off existing inventory during show season, opting to wait for the updated models before restocking.
- Mid-Summer Surge: Expect a significant spike in shipments around mid-2025 as dealers rush to fill their lots with new models. This could lead to a temporary boost in sales, particularly for those eager to get their hands on the latest features and floorplans.
Economic Factors and Interest Rates:
- Interest Rate Sensitivity: Interest rates will continue to be a critical factor in both new and used RV sales. Higher rates could deter some buyers, particularly those on the fence about making a purchase. However, if rates stabilize or decrease, it could stimulate a wave of new buyers entering the market.
- Consumer Caution: In a climate of economic uncertainty, consumers may become more cautious with big-ticket purchases like RVs. This could lead to longer decision-making processes, smaller down payments, and an increased focus on budget-friendly models.
Market Segmentation:
- Travel Trailers Leading the Way: We expect travel trailers to continue carrying the industry. Their affordability and versatility make them appealing to a broad range of consumers, from first-time buyers to seasoned campers looking to downsize.
- Motorhome Consolidation?: If the current trends persist, we may see some consolidation in the motorhome segment. Brands struggling to maintain sales volumes may need to reevaluate their offerings or merge with others to stay competitive.
Used RV Market Dynamics:
- Price Pressures: The influx of budget-focused new campers will likely keep pressure on used RV prices. Expect to see continued softening in the used market as these models provide stiff competition.
- Auction Influences: As prices at wholesale auctions continue to set the tone for used RV values, dealers may adjust their purchasing strategies, possibly leading to more selective buying and selling practices.
Consumer Behavior:
- Shift Toward Practicality: Buyers may increasingly prioritize practicality over luxury, focusing on features that offer the best value for their money. This could shift demand towards mid-range models that offer a good balance between cost and amenities.
- Potential for Increased Leasing: With economic uncertainty, more consumers might consider leasing options as a way to enjoy RV life without the long-term financial commitment of ownership.

While these predictions outline potential scenarios, the RV market is always subject to change. Staying informed and adaptable will be key to navigating the road ahead, whether you’re a buyer, seller, or industry insider.

family sitting outside RV at night with campfire and led lights

Stay Ahead of the Curve

You had questions about RV sales in these unstable market conditions, and now you have the answers.

At Bish’s RV, we’re constantly monitoring the market to ensure you have the insights you need to make smart, informed decisions.
With the current trends in mind, it’s clear that now is a great time to buy an RV.