May 2002

The Recreation Vehicle Industry Association (RVIA) reports that RV wholesale shipments continued to improve in May rising 19.3% ahead of this month last year and, year to date, are now 12.1% ahead of the first five months last year. The rapidly expanding economic recovery coupled with lower interest rates and rising consumer preference for domestic travel options has spurred the recent industry sales growth. Shipments through May are running at an annualized rate of more than 286,000 units, 11.3% greater than all of last year.

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Importantly, retail sales of most RV categories surveyed were reported at levels above that of wholesale shipments. The exception appears to be motorhomes where wholesale trails retail, but only by a small margin.

The Index of Consumer Sentiment was 96.9 in the May 2002 survey of consumers as conducted by the University of Michigan's Survey Research Center, up from 93.0 in April. Consumers remain upbeat about their own personal financial condition as well as about buying conditions in general.

"The most likely prospect is that consumers will remain confident that the recovery will continue but will still be apprehensive about job prospects," reported Dr. Richard Curtin, director of the survey. "Given that interest rates have remained low, consumers are still likely to spend enough to counter the continued weakness in business investment."

Towable RVs

Total shipments of all towable RVs were at 23,200 units in May, up 20.2% from this same month last year. Year-to-date totals for all towable RVs were at 105,400 units, up 11.4% over this same period last year.

Each vehicle category except truck campers in this group was greater than this same month last year. Conventional travel trailers and fifth-wheel travel trailers, particularly larger units with slideouts, improved the most in May (see next page).

Motorhomes

Wholesale shipments of all motorhomes totaled 5,200 units in May, rising 15.6% from this same month, one year ago. Yearto- date totals are now above 25,000 units, a 15.2% increase over the first five months of 2001.

May shipments of 3,100 units of type A motorhomes were 14.8% greater than last year and, year to date, are up 12.7%. While diesel motorhome shipments have remained strong it has been gasoline chassis motorhomes that have seen the greatest growth, rising nearly 20% compared to this same month last year. Type C motorhomes were ahead of last year by 28.6% on shipments of 1,800 units and, year to date, are now 20.3% ahead of this same period last year.

Conversion Vehicles