Popularity Of Driving Vacations Fuels The RV Industry

• September
• 23

12:21 am RV

The demographic is changing at recreational-vehicle campgrounds across America. As baby boomers enter their prime RV-buying years over the next decade, the number of RV-owning households is expected to jump to nearly 8 million-a 15-percent increase.

That’s good news for companies an RV manufacturer owned by the Bontrager family that posted $325 million in revenue, an increase from $320 million reported. The company is based in Middlebury, near Elkhart. January 2003 saw the 13th straight month of gains in total RV wholesale shipments, according to data from the Reston, Va.-based Recreational Vehicle Industry Association.

Wholesale shipments are now projected to rise to 316,900 units, a 2-percent increase from last year.

“Strong RV for sale have directly benefited from low interest rates and indirectly benefited from the extra money generated from mortgage refinancing,” who provides quarterly market forecasts for the RV industry.

Getting to know the customers has become a primary focus. According to industry figures, nearly 10 percent of adults 55 and older own an RV, only slightly exceeding the 8.9-percent ownership rate among 35- to 54-year-olds. The study, commissioned by the RVIA, indicates that the average RV owner is 49 years old and married, with an annual household income of $56,000.

The growing popularity of driving vacations is also helping fuel industry growth,”Families want to escape to America’s outdoors in these uncertain times, spend quality time together and avoid hassles associated with flying-all longterm trends likely to sustain continued RV market growth.”

With all the innovations in RVs, they have come a long way from your father’s pop-up camper or grandfather’s Airstream, both in terms of style and comfort. But the appeal of hitting the highway with the family continues.

“Overall, there is a strong and enduring appeal to the RV lifestyle that is as valid today as it was 20 years ago,”"The latest survey data only adds support to an optimistic forecast of RV sales and future ownership growth.”

“We don’t have our sights set on being the largest RV company necessarily,”"We don’t look at ourselves as a large company,This year we will build more than 20,000 RVs, but we want all our people to do their job as if we are building them one at a time. Our vision is to be the most respected name in the RV business.”