LOUISVILLE, Ky., Dec. 1, 2015 /PRNewswire/ -- The recreation vehicle (RV) industry's shipments will reach 375,100 units in 2016, a 1.6% increase above the projected 2015 total of 369,100, according to a new forecast from the Recreation Vehicle Industry Association.
The forecast was prepared by RV industry analyst Dr. Richard Curtin, and released at RVIA's 53rd National RV Trade Show, held annually in Louisville, Kentucky.
"This is an exciting time for the RV industry," said RVIA's new president, Frank Hugelmeyer. "Shipments are now surpassing pre-recession levels, and we have a bright future filled with opportunities for sustainable growth."
The forecasted total for 2016 is more than double the industry's 2009 recession low, and results from innovative RV designs, a deep-seated preference of consumers for the RV lifestyle, and an improving economy.
"The favorable RV outlook is based on continued gains in jobs and wages, as well as low inflation," said Curtin. "Slowly rising interest rates are anticipated across the forecast horizon, but are not expected to have much impact on RV sales. Record growth in sales of light trucks and low fuel prices will help boost trailer sales."
RVIA forecasts growth will be strongest among conventional travel trailers and type C motorhomes. Shipments of towable RVs will rise to 326,600 units in 2016, an increase of 1.4%. Motorhome shipments will climb 3.4% to 48,500 units in 2016.
The RV industry's resurgence reflects the ability of manufacturers to quickly deliver new features and options that appeal to changes in the marketplace.
RVIA is the national association representing approximately 400 manufacturers and component suppliers producing 98 percent of all RVs made in the United States. For more information, please visit www.RVIA.org.
SOURCE Recreational Vehicle Industry Association