Demand Drives Wholesale RV Prices Up
April marks the fourth consecutive month of increased RV wholesale prices.
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.