J.D. Powers’ Market Insights Report for the first quarter of 2024 said RV values are similar to or slightly below late-2023 levels. In challenging macroeconomic conditions, the report said the RV market shows mild depreciation.
The report said economic conditions eased in the first quarter of 2024 compared with the first quarter of 2023. As a result, RV depreciation has relaxed, except for Type A motorhomes. J.D. Power said it continues to adjust Type A motorhome values downward to match market realities.
“Finance rates should remain stable and could ease later this year,” the report said, “providing some assistance to a maturing (RV) market.”
Travel trailer values were 1.8% lower in March-April 2024 compared with January-February 2024. Travel trailer values were 3.8% lower in the first four months of 2024 compared with the first four months of 2023.
Fifth wheel values averaged 0.3% lower in March-April 2024 compared with January-February 2024. The values in the first four months of 2024 were 1.4% higher than the first four months of 2023.
Type A motorhome values averaged 2.2% lower in March-April 2024 compared with January-February 2024. Type A values were 6.4% lower in the first four months of 2024 than the first four months of 2023.
Type C motorhome values averaged 1% higher in March-April 2024 compared with January-February 2024. Type C values averaged 8.6% lower in the first four months of 2024 compared with the first four months of 2023.
Camping trailer and truck camper values also averaged less in the first four months of 2024 compared with the first four months of 2023. Camping trailer values were down 18% and truck camper values fell 12.4%.
Through the first four months of 2024, Keystone RV was the most researched travel trailer brand online, the report said. Jayco was next, followed by Grand Design, Heartland and Forest River Cherokee.
Among Type A motorhomes, Thor Motor Coach was researched most, followed by Winnebago and Tiffin’s Allegro. In Type C motorhomes, Thor Motor Coach again was the most researched brand, followed by Jayco, Winnebago and Coachmen.
