Retail sales were again reported at higher rates than wholesale shipments this month, reaffirming declining dealer inventory levels. Manufacturer surveys show final sales were above wholesale shipments in four of the five vehicle categories reported.

The Index of Consumer Sentiment, as measured by the University of Michigan's Survey Research Center improved to 82.7 in the October survey of consumers. Although small, this increase follows the sharp declines in the September data caused by terrorist attacks.

"The current downturn is unlike any other in the last 50 years," said Dr. Richard Curtin, director of the survey. "While eight-in-ten consumers judged the economy in decline in October, consumers expect low inflation and low interest rates to persist.

Towable RVs

Shipments of all towable RVs were 16,000 units in October, off 10.1% from this same month last year. Year to date, all towable RV shipments are now at 183,300 units, off 14.2% comapared to this same period last year.

Conventional travel trailers slipped 8.5% this month, remaining about 12% behind last year through October and within reach of another 100,000 unit year. Fifth-wheel travel trailers declined 9.3% this month and should surpass 50,000 units again this year. Truck campers did well with shipments of 800 units this month and will finish the year near 10,000 units.

Motorhomes

All motorhomes shipments totaled 3,900 units this month, down 17% from this same month one year ago. The declines in motorhomes have exceeded towables all year and are now at 41,700 units, year to date; off 22.2% compared to the first 10 months last year.

All categories of motorhomes have participated in this decline. Although type B products leads all other with a decline of 26.7%, it is type A motorhomes, particularly gasoline chassis type A motorhomes, which have suffered the greatest unit losses this year.

Conversion Vehicles

Conversion vehicle shipments have struggled all year but were hampered even more as auto discounting initiated since September 11 failed to include these products. Still, October showed some improvement although clearly on lowered industry shipments.

Wholesale shipments of all conversion vehicles were repported at 5,000 units, nearly 1,400 units more than last month. Still, this was far below the 9,200 units reported shipped in October last year and year-to-date totals are nowat just 55,400 units, off 46.8% from this same period one year ago. As with RVs, retail sales have outperformed wholesale shipments, reducing dealer inventories.