RV sales projected to be stronger in 2016 thanks to low gas prices, steady economy
RV industry expected to have its seventh consecutive year of rising shipments in 2016.
The RV industry is looking toward continued growth this year as memories of the Great Recession begin to fade.
It was only seven years ago that the industry was in dire straits. A few short years after hitting their peak of 390,000 units in 2006, RV sales had plunged 65 percent by 2009. With gas prices circling $4 a gallon, many RVers left their motor homes in the driveway rather than shoulder the cost of a vehicle that might get — at best — 10 miles per gallon.
"The RV industry follows the cycles in the economy. When times are good, RV sales are good, but when the economy goes bad, RV sales are terrible," said University of Michigan economist and industry analyst Richard Curtin in 2009. "It will take time for the industry to fully recover."
Fast-forward seven years, and things have reversed. The average for gas is $1.78, the economy is on stronger ground and consumer spending is swinging upward.