Millennials Fuel The RV Boom

Millennials Fuel the New RV Boom

With the summer season drawing near and outdoor sites beckoning, most people are either purchasing or putting a down payment fon a new travel trailer.

Newbie recreational vehicle buyers are anticipated to push sales to a whole new record level this year, the highest since the Recreation Vehicle Industry Association started keeping track of sales in 1979. Manufacturers plan to ship 446,000 RVs in 2017, up 3.6% from previous year’s which was as well a record.

But even more inspiring for the manufactures is the age of the buyers. Sales are increasingly being driven by young enthusiasts looking for inexpensive, functional vacation travel, not only retired people trying to tour the country in motor homes. Experts say that reduced gas prices, favorable interest rates and a heightened interest in the outdoors makes more People see this as a good time to buy an RV. RVs exploit Americans’ values and desires to go outdoors, experience nature and see their families in a way that doesn’t hurt their wallets.

Trailers constitute a huge portion of this growth, right now accounting for 87% of the units marketed. Buyers are almost always Millennials, those in their 20s or early 30s, and many young couples who don’t have children yet. Baby Boomers, by comparison, buy motor homes more as a life-altering option, one that will take up most of their time after retirement.

This wave of new buyers want recreation without investing greatly. They want to go camping on weekends, but not be so committed that it’s a lifestyle change.

That’s the reason a lot of newly wedded couples buy a trailer rather than a motor home. Travel trailers are easier to use than motor homes and they are two or three times less expensive. But despite this -most of them still want an RV that could endure weekend trips and hold their dogs, as well as an option that will hold up well over the next few years.

Even when consumers do turn to motor homes, they’re looking at the smaller ones; more and more customers are continually showing interest in the 21- to 24-foot models.

One additional factor in the latest growth trend is the fast-improving economy. RV sales have improved steadily since the 2008 financial crisis, when they took a nosedive to a 17-year low after peaking in 2006. At the moment, the association anticipates the overall retail worth of all RVs sold in 2017 would be $18.5 billion — and RV manufacturers say the rise in demand has made it hard to keep up.

A good number of RV plants are running at full capacity, taking up production incrementally; so as to meet demand.

For most first-time RV buyers, the target is more on the short term. Many even hope to make use of their new trailer to drive to barbecue competitions and delight in the outdoors around their neighborhood. This means that summer — along with the great freedom and pleasure that comes with it — is just an RV purchase away!