RV market forecast as flat through 2009

Truth Staff

The downturn in the recreational vehicle industry is expected to continue through the first quarter of 2009 but shipments should then grow to the end of the year. However, the 303,100 units projected to be shipped in 2009 will only match the predicted total shipments for 2008 of nearly 304,000.

The market projections were made by Richard Curtin, director of surveys at the University of Michigan, during "Forecast 2009," an event sponsored by the Recreation Vehicle Industry Association.

Shipments for 2008 will be lower than they were during five years of consecutive growth, capped in 2006 with 390,500 units, a 30-year high. Curtin predicted shipments will remain flat in 2009 because of the continuing fallout from declining house values, the credit crisis, rising prices for food and fuel, higher unemployment, smaller income gains and sluggish economic growth.

In the long-term, Curtin expects the RV industry to increase its market share with ownership rising from 7.9 million households in 2005 to an expected 8.5 million in 2010.