Truth staff
Wholesale shipments of recreational vehicles dropped about 72 percent in November 2008 and are expected to go even lower in December.
The November shipment totals, the most current available, were recently released by the Recreation Vehicle Industry Association. During November, a total of 6,000 units were shipped, down 72.1 percent from the 21,500 transported in November 2007. Year-to-date numbers were off 30.1 percent with 231,400 RVs dispatched through November 2008 compared to 331,000 units shipped through November 2007.
Tightening credit in the retail and wholesale financing markets were cited by the RVIA for driving industry production totals "dramatically lower." In addition, the RVIA noted December shipment figures could be even lower since many manufacturers reported suspension of current production until after the New Year holiday.
Towables fell 71.4 percent in November with 5,200 units shipped compared to 18,200 shipped in November 2007.
Motorhomes plunged 75.8 percent as 800 motorized units were shipped in November, down from the 3,300 shipped one year ago.
Shipments totaled 353,400 in 2007 and Richard Curtin, director of consumer surveys at the University of Michigan has predicted shipment will decline to 248,000 in 2008. Curtin forecasts conditions will continue to deteriorate in 2009 with shipments reaching 186,800.