While previous recessions have hit Elkhart hard, the RV capital might be uniquely positioned to weather the COVID-19 downturn better than other cities, the Indianapolis Star reports.
Northern Indiana’s major OEMs are largely closed during the pandemic. However, once manufacturing resumes, they may find demand for RVs increasing as families seek ways to vacation without putting themselves and others at risk, according to sources cited by The Star.
As people hunker down and stay isolated, RVs could become an attractive option for those with jobs or nest eggs to afford them, Winnebago CEO Michael Happe told the newspaper. Happe also acknowledged no one knows what the future holds — there will be pluses and minuses, he said, but he also said he believes the RV and boating industries will return in strength in the future.
Economic experts from beyond the RV industry said the idea of the industry’s durability in the present economic uncertainty isn’t necessarily farfetched. The Star quoted Ball State University economist Michael Hicks, who said while people can’t go to hotels or restaurants, they can go out in their campers for the weekend.
Read the full Indianapolis Star article here.
