Amid high interest rates and challenging economic conditions, RV dealers are maintaining a positive outlook.
Over 60% of RV dealers believe that their dealerships will improve in the next 3-5 years, according to RVDA’s annual member dealer survey. Twenty-eight percent of dealers said they believed their business would remain the same over the same period.
RVDA President Phil Ingrassia said, “Even in a bit of a tougher market that we have been experiencing over the last year-and-a-half, dealers, by and large, are still very optimistic about the future of the business.”
He said the optimism is evident in dealer expansions, such as building new or additional sales facilities and service bays.
Almost 68% of RVDA member dealers predicted business growth would occur by adding sales volume to their locations.
Among the top reasons cited for future growth were:
- Retaining recent first-time RV buyers.
- Continued growth in fixed operations, specifically service and parts.
- Improved efficiency through employee training.
- Influx of younger buyers since 2020.
- Increasing interest in outdoor lifestyles.
Dealers highlighted business challenges including:
- High repair event cycle times.
- Product quality.
- Affordability due to high interest rates.
- Dealer profitability.
- Finding qualified employees.
- Warranty claims.
- Lack of quality campground access.
Dealers split on RV manufacturer’s support level over the past five years. A third of respondents said manufacturers’ support improved, a third said manufacturer support remained the same and a third said manufacturers’ support worsened.
Survey participants demonstrated interest in education and training. Nearly three-quarters (72%) of respondents supported training their employees through the Mike Molino RV Learning Center. Larger dealers listed 20 Groups as a primary contributor to their success. Dealers learned best practices and industry trends from 20 Groups.
Around 60% of respondents had one dealership. Twenty-three percent had 2-4 locations, 9% had 5-9 locations and 8% had more than 10 locations.
RVDA sent the survey through email and out of 1,100 dealers, 220 completed it. The results were collected by David Spader at NCM Associates.
