RVs are More Popular Now than EverApr 21, 2014
When analyzing trailer sales trends in the U.S., one could make some interesting discoveries regarding the sale of one particular branch of trailers – RVs. The recreational vehicle has long been a means of comfortable travel across the country, and has also been an obtainable “destination goal” for retirement. Recent studies from the Recreational Vehicle Industry Association (RVIA) show that over 300,000 RV units were shipped during 2013, the first time that the number has crossed that plateau since 2007. Additionally, early numbers from this year show an estimated shipment of over 320,000 units by the end of 2014, which is up another 3.9% from last year. So why are RVs more popular now than ever? A deeper look into the statistics tells us the full story.
Who is Buying RVs?
Today, over nine million American households are proud owners of recreational vehicles; this is the highest level ever recorded, having seen a 64% increase since 1980. According to a 2011 RVIA study conducted at the University of Michigan, the largest grouping of RV owners are middle aged, from 35-54 years old. The Baby Boomers are often considered to be one of the biggest “spending generations,” of all time, and studies are linking a rise in RV sales to the fact that members of this generation are suddenly finding themselves ready for retirement. Baby Boomers are also known to be more economically intelligent than their parents’ generation before them, and RVs today offer great benefits.
Saving Money with the Modern RV
For example, did you know that many RV buyers are able to deduct the interest on their loans as part of a second home mortgage? People are also utilizing other money saving endeavors, such as installing profitable solar panels on their roof; money can be made effortlessly in this manner as one travels the country. Furthermore, RVs are much more affordable today, as the options and styles of these vehicles have increased dramatically since the 80s.
Choosing a Fuel-Efficient RV
Manufacturers are producing more lightweight towable trailers and smaller, more fuel-efficient RVs, which is obviously very important in today’s expensive gas-guzzling age. The RVIA has determined that current fuel prices would almost have to double in order to make RV travel more expensive for a family of four than flying. With over 16,000 campgrounds in our country now, Americans are much more inclined to stay out of the skies and explore the U.S. the old-fashioned way.
The Future of RVs
Trailer sales in the U.S. have grown continuously since the 1980s, and as the Baby Boomer generation settles into retirement, RVs, specifically, are enjoying their most profitable time in history. As new models and innovations pop up, one can only wonder what options will be available to the next generation of travelers.