2023 Q3 RV Market Insight Report
RV MARKET INDUSTRY OVERVIEW
RV values softened in the summer, reflecting more difficult trade dynamics and higher interest rates. Looking at individual segments, the most recent 10 years of Standard Hitch trailer values averaged 5.5% lower in the 10 months of 2023 compared to the same period of 2022. Fifth Wheel units averaged 1.2% higher in that period, although the pullback in the most recent period puts values on par with 2022. In the Motorhome segment, Class A vehicles averaged 2.5% lower in the first 10 months of 2023 compared to the same period of 2022, while Class C motorhomes averaged 1.9% higher. However, the most recent value period shows Class C values similar to 2022. Camping Trailer values were 1.5% lower in the first 10 months of 2023 compared to the same period of 2022, and are now back at 2021 levels. Truck Campers averaged 1.8% higher in that period, but are below the 2022 level in the most recent valuation period.
RV values are still relatively strong, but the market has clearly cooled somewhat in the second half of 2023. Equity challenges combined with a tougher finance environment means dealers are working harder for each sale. Conditions should feel more like 2019 than 2021.