RV sales do well locally, nationallyDec 26th, 2015 | By Copydesk | Category: Featured, Pack your bags
By Cydney McFarland
Sales of recreational vehicles in the United States are at their highest in nearly a decade, according to the Wall Street Journal. And John Myers, general sales manager at Bish’s RV in Idaho Falls, said the increase is a sign of economic recovery.
“Banks are lending like they did before the recession,” said Myers. “Interest rates are low and people can get loans.”
According to the Wall Street Journal, sales of RVs in the first 10 months of 2015 were up 11 percent from 2014, with 334,528 units sold in North America. That is over 70 percent more than in 2009 — during the recession — and just slightly over the 2007 pre-recession peak.
According to Myers, the sales increase is coming from people buying RVs to go camping. The Wall Street Journal said these new customers tend to be retiring baby boomers and young families taking their kids into the great outdoors.
While new consumers are mostly looking to get back to nature, Myers said there is still a large market that uses RVs as a more long-term solution. Usually they’re snowbirds taking their rigs south for the winter months.
Even as sales of RVs have increased, the size of RVs has shrunk, according to the Wall Street Journal. Unfortunately for manufacturers, rather than a large ‘home away from home’ consumers are opting for smaller and less expensive models.