Demand Drives Wholesale RV Prices Up
April marks the fourth consecutive month of increased RV wholesale prices.
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According to RV News, wholesale RV prices reached another record high in April as demand from dealers continues to go up, according to a report from RV Market Commentary from Black Book. Average towable wholesale prices in April were up 1.8% from March and 63% from April 2020; concurrently, motorhome average wholesales rose 2.3% from March, and 76.8% from April 2020.
“Prices will stop going up when everyone who wants an RV has an RV,” said Eric Lawrence, Black Book principal analyst – specialty markets. “At some point, everyone who wants an RV will have one, and then we will get down to a more normal market.”
Since the pandemic started, wholesale towable prices rose 54% and wholesale motorhome prices rose 47%, Lawrence said.
Meanwhile, the South Bend Tribune reports manufacturers in Elkhart, IN struggle to keep up with high demand while facing a competitive labor market and supply-chain issues. “We’ve set monthly records in seven of the past 10 months,” said Monika Geraci, a spokeswoman for RV Industry Association. “Manufacturers just continue to adjust to the issues that they’re facing.”
Bob Martin, CEO of Elkhart-based Thor, said the company was making adjustments and reconfiguring production lines, among other measures, to boost production.
The high demand and increased prices represent a long-term trend of increased recreational camping. The pandemic only contributed to that long-term rise. “This is more than a short-term trend caused by the pandemic,” Geraci said.
