01 Steering Through the 2024 RV Market Landscape
Setting the Scene Navigating the Financial Landscape The Inventory Balancing Act
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The Financial Landscape
Balancing Your Inventory
Growing Interest in Non-Motorized RVs
With the increase in costs, consumers might become more selective in their spending. They may delay their RV purchases or opt for less expensive alternatives, such as smaller or used models. Dealers have the opportunity to collaborate with lenders to offer flexible and attractive financing solutions. This could involve providing longer-term loans, balloon payments, or even offering in-house financing options.
There's been a significant decline in RV shipments from 2021 to 2023, with a slight increase expected in 2024, indicating market adjustments. Due to some manufacturers extending the '22 model year, dealerships might find themselves with inventory from three different model years ('22, '23, and '24) at the same time, complicating their sales strategies
Trailers, fifth wheels, and camper trailers are seeing an increase in demand due to their affordability, ease of maintenance, and the wide variety of options available. The surge in interest for basic trailers, especially bunk models for families, suggests consumers are valuing simplicity and cost-saving options over more luxurious offerings.
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