Recreation Vehicle Market Continues to Benefit from Shift in Consumers’ Travel Preferences
TROY, Mich.: 06 May 2021 — In the Q1 2021 Recreational Vehicle (RV) Market Insights , analysts from J.D. Power Specialty Valuation Services say that used RV pricing increased overall due to a lack of new inventory. Combined with encouraging employment rates and consumer spending, this indicates elevated values for RVs and travel trailers for at least the next few months.
“Shortages of new vehicles are pushing values of used units to historically high levels, just as travel season opens up nationwide,” said Lenny Sims, vice president business development and strategy at J.D. Power Specialty Valuation Services. “Standard hitch values are averaging a whopping 34.6% higher in the first quarter compared to the same period last year. Fifth-wheel units are also crushing the year-over-year comparison, running 28.7% ahead in the first quarter of 2021.”
Major findings in the free quarterly report note:
- Used values across all RV and travel trailer segments increased at a steady rate in the first quarter of 2021
- Surge in RV traffic views in March 2021
- Standard hitch units are the most searched with 44% of traffic views
J.D. Power Specialty Valuation Services (formerly NADAguides) is a leading provider of specialty vehicle valuation products and services to businesses. The team collects and analyzes tens of thousands wholesale and retail transactions per month, and delivers a range of guidebooks, web service data, analysis and digital data solutions.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power is headquartered in Troy, Mich., and has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.
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