March 2002

The Recreation Vehicle Industry  Association (R IA) reports that while the March RV wholesale increase of 1.1% may appear small in contrast to earlier months this year first quarter results as a whole were quite impressive and offered clear evidence that the first recession in more than 10 years was short and shallow. Importantly the 27,200 total units shipped to RV dealers in March was the largest single monthly total in nearly two years. Year to date the three-month total of 70,800 units shipped was ahead of this same period last year by 7.8%.

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The Index of Consumer Sentiment as measured by the University of Michigan’s Survey Research Center rose to 95.7 in the March survey the highest level in more than 15 months. The recent gains have been largely due to the growing belief that the economic recovery will be strong enough to restore favorable job prospects.

“Consumers report that the economy has already made some gains” reported Dr. Richard Curtin director of the survey. “A record number of consumers expect the economy to improve during the year ahead and that a falling unemployment rate was expected by more consumers than at any time in nearly ten year, ” he said. 

Favorable consumer sentiments can be found in retail sales data for RVs as well. As seen in the results of our monthly surveys of manufacturers improving retail sales have pulled wholesale shipments’ totals along with them. 

Towable RVs

All towable RVs were up nearly 20% over last month but managed to just equal last year’s total of 21,700 units in March. Seasonally adjusted March’s total was off about 4% from the very strong opening months of January and February. Year to date shipments of 56,700 units were up a more sustainable 6.4% over this same period last year. Increases in conventional travel trailers, fifth-wheel trailers and truck campers set the pace for the group so far this year with hybrid and folding camping trailers running behind.

Motorhomes

Motorhome shipments grew more than 40% in March compared  to the previous month and were up 5.8% above the same month last year. All the growth this month was in conventional type A motorhomes which managed  to top 3,800 units their best month in nearly two years. The 1,500 units of type C motorhomes were even with this same month one year ago but have made steady improvements over the past six months. Year to date, motorhome shipments have improved nearly 14% so for this year on totals of 14,100 units. Type A motorhomes represent two-thirds of this group’s total shipments with 9,500 units in the first three months this year, an increase of nearly 12% over the same quarter last year.

Conversion Vehicles