RVIA reported the industry set a record in 2021 by reaching more than 600,000 wholesale RV shipments in a year for the first time.
Projections for 2022, however, call for manufacturers to slightly miss the 600,000 mark.
In the Spring 2022 issue of RV RoadSigns, the quarterly forecast prepared by ITR Economics, the forecast projects a range between 578,000 and 603,300 2022 shipments. The most likely total, RVIA reported, is 591,100.
The most likely total would be a 1.5% drop from the 600,240 2021 shipments and rank as the second-most in industry history.
“Our forecast shows another very strong year for the RV industry which is being driven by continued consumer demand and inventory restocking at dealerships across North America after a record-breaking 2021,” RVIA President and CEO Craig Kirby said. “Despite the economy as a whole facing headwinds with continued supply chain issues and rising inflation, RV manufacturers and suppliers are well-positioned to meet the ongoing demand for RVs as consumers continue to desire ways to get out and experience an active outdoor lifestyle.”
To start the year, however, manufacturers appear to be outpacing full-year projections. RVIA reported January shipments were 16% higher than January 2021. In a conference call with analysts Feb. 10, Lippert Executive Vice President and Chief Financial Officer Brian Hall said manufacturers were running at a pace of about 610,000-615,000. The pace was expected to increase to an annual run rate of 640,000-650,000, Hall said.
RVIA stated inventory restocking by dealers and continued consumer interest will boost shipments in the first half of the year. Growth rates will ease in the latter part of the year, RVIA stated, as the market normalizes.
RVIA will host a webinar detailing the forecast at 2 p.m. ET March 14. ITR Economics Senior Economist and Econ Manager Eric Post will lead the webinar, which is available only to RVIA members.
