Truth Staff
RESTON, Va. -- Shipments of recreational vehicles fell in October for the sixth consecutive month, dipping to levels not seen since 1990.
A total of 13,500 units were shipped from manufacturers to dealers during October, according to the Recreation Vehicle Industry Association. This marks a 12.3 percent decline from the 15,400 units shipped in September and a 52.5 percent drop from the 28,400 RVs in October 2007.
Motorhomes led the decline with 1,600 coaches shipped in October, down 65.2 percent from the 4,600 shipped in October 2007. Towables also showed a significant decrease as shipments were off 50 percent with 11,900 units being shipped in October, compared to 23,800 shipped in October a year prior.
From January through October, 225,400 RVs have been shipped in 2008, compared to the 309,500 and 344,000 shipped during the same period in 2007 and 2006 respectively.
The RVIA blamed the declining shipments on "the tightest credit conditions in several decades," decreasing household wealth and lagging consumer confidence. For all of 2008, shipments are predicted to reach 266,800, the lowest since 2001.