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Will RV Prices Go Down in 2024?

Let’s consider factors that affected RV pricing in 2023. 

An increase in inflation in 2023 led to higher sticker prices on RVs at the dealership. But that wasn’t the only trouble it caused. 

Rising inflation also led to interest rate hikes that inevitably resulted in higher prices for those purchasing an RV with a loan. As we look to 2024, interest rate changes will be a telling factor for those who will be financing RVs, especially as the Fed has projected interest rate cuts later this year. 

Relatedly, higher inflation in 2022 and 2023 also led to a general increase in material and production costs, which affected RV prices. There are many contributing factors here, including the supply chain issues from 2021 and 2022. But, for our purposes, it’s worth noting how manufacturing costs affected RV pricing in 2023. 

Consumer Demand

After the pandemic triggered a surge in demand for RVs in 2021 and 2022, demand in 2023 trended towards pre-pandemic levels, translating into a drop in sales by as much as 50% compared to 2022. This brought some relief to RV prices in 2023, as demand fell at the same time RV lots were full with new inventory, which had been a problem only a year prior. 

In 2024, watch how demand changes as inflation cools and interest rates lower. 

Curious to learn what other factors affect RV prices? See Ian’s breakdown below: 

RV Prices in 2024

In 2024, concerns over inflation have tempered , and rates are expected to be cut three times in 2024 (and more in 2025 and 2026). That’s good news for everyone. It’s also a fairly recent turn of events — one to monitor to see its effects on the RV industry as a whole. For those looking to borrow to pay for a new RV, the outlook is certainly better if not promising. 

Prior to this news, manufacturers had already responded to the changes in 2023 and adjusted their processes accordingly, including by making changes to the design and construction choices for 2024 models. 

While interest rates are expected to decline, you’ll see 2024 models reflect an effort to lower the manufacturer’s suggested retail price (MSRP). This doesn’t mean a lesser quality RV or even one that forgoes standard amenities. But it does mean you should watch for the manufacturer’s creative attempts to lower the ticket price of an RV as you shop in 2024. 

Decontented RVs

In 2024, look for a prominence of decontented RVs on the lot. Decontented RVs are models with certain features, technology, or materials removed or adjusted to lower the cost or weight of the RV. Essentially, it’s a more basic or stripped-down version of an RV.  

Buyers of travel trailers and even some fifth wheels campers can especially benefit from decontented versions when it comes to the overall cost. These units are typically more affordable off the lot and lighter in weight, meaning less strain on your tow vehicle’s engine and better fuel efficiency. 

What does a decontented RV look like? Look for the following modifications as you explore RVs this year. 

Reduced Technology

Decontented RVs might forgo costly technology that doesn’t significantly improve the performance of the RV. Telescoping televisions, DVD/Blu-Ray players, and indoor speaker systems? You may see less of those. 

Standard Appliances

In 2024, RV manufacturers might seek to lower overall ticket prices by sticking to standard appliances and utilities rather than upgraded versions. Residential amenities are more common on luxury models, but standard appliances help keep overall costs down. 

Overall Size

A smaller, more lightweight RV typically saves on material costs. The light weight also saves you on fuel costs.

Basic Cooling & Heating

Look for more standard heating and cooling units. This doesn’t reflect inferior performance, necessarily, just a priority on the most efficient, cost-effective systems.  

Now let’s look at how RV designers and manufacturers have made changes to 2024 models in an effort to lower the sticker price. 

Keystone: Classics Collection

As an example of how one manufacturer has healthily attempted to bring overall prices down, look no further than an exciting new endeavor from leading RV manufacturer Keystone RV. Late in 2023, Keystone announced the launch of the Keystone Classics Collection , a “back to basics” lineup of some of their favorite brands and floorplans in new lighter and smaller versions. 

The Classics Collection includes the following models and floorplans:

• Springdale Classics
• Hideout Sport
• Bullet 1700BH  
• Bullet 1900RD
• Passport 170BH
• Passport 190RD
• Arcadia Select
• Cougar Sport

Keystone evaluated these RVs with a focus on lowering cost and providing units that addressed the interest of RV owners — especially those interested in a more lightweight and towable RV.

“Decontented” doesn’t mean a reduced quality RV — or even a less capable RV. Instead, the design simply reprioritizes some of the many factors that determine if a particular RV is right for the buyer. In this case: cost, size, weight, and towability.  

Other Factors That Influence RV Prices

Keep in mind that other factors affect prices beyond market trends, features or amenities, inflation, and interest rates. 

We’ve already seen how manufacturers are bringing down prices by decontenting their RVs. These additional variables can cause swings in price from one RV model to the next in different regions. Consider factors like freight and dealership fees as you shop RVs in 2024. 

Freight Costs

According to the Indianapolis Business Journal , roughly 80% of global RV production has occurred in Indiana factories in recent years. To deliver RVs to dealerships across the country, dealerships pay shipping costs, commonly referred to as freight. These costs fluctuate depending on the dealership’s location, and they can affect the total price of an RV. 

Common Fees

On top of freight charges, dealerships also have to account for other costs associated with an RV. For example, state and local taxes vary depending on a location and are required by law. Likewise, some administrative fees are required by law. 

Consider, too, additional preparation fees (including propane and a battery upon pickup), licensing and registration, extended service contracts (optional), and optional add-ons or accessories. 

There are three main factors to continue watching in 2024 to see how they might affect RV prices and offerings: interest rates, inflation, and MSRP. While dealership prices will always vary to some degree, these three factors provide a helpful bird’s-eye-view of what’s ahead.  

For example, if interest rates remain high, we could expect additional decontenting to bring MSRPs down. If inflation and interest rates lower as projected, effectively easing monthly payments, you might see MSRP change, too. 

If you want to finance an RV in 2024, keep your eye on the monthly payment when determining the overall cost (a healthy practice regardless). Consider what percentage of that monthly fee is interest rate versus principal. With variable MSRPs and interest rates, you’ll want to watch how one affects the other.  But here’s hoping 2024 does result in lower interest rates, as currently projected.  

The overall good news? RV manufacturers are working to build better, more efficient RVs at lower MSRPs to provide a wider range of affordable options for buyers.

Might they have less advanced technology and a renewed focus on the basics? Absolutely, but that can help you, the camper, find a comfortable RV that challenges you to  embrace the analog .

What was your experience shopping RV prices in 2023? Do you have projections for costs in 2024? Let us know in the comments below.

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Will RV Prices Go Down in 2024? (Plus How to Get a Deal)

This post may contain affiliate links. See our affiliate disclaimer here.

As we approach 2024, the RV industry is emerging from a period of adjustment following the COVID-19 pandemic, marked by supply chain disruptions, fluctuating consumer demands and a shift in lifestyle preferences.

In 2023, the industry has been working through these challenges, with manufacturers and dealers alike adapting to the evolving landscape. Now, the pivotal question is: Will RV prices go down in 2024?

• 1 Will RV Prices Go Down in 2024?
• 2.1 A Year of Decline
• 2.2 The Used RV Market: A Mixed Bag
• 3.1 New RV Price Predictions in 2024
• 3.2 Anticipated Discounts and Negotiations
• 3.3 Used RV Price Predictions in 2024
• 3.4 2024 Manufacturing Adjustments
• 4.1 Shop for New Older Year RVs
• 4.2 Don’t Be Afraid to Negotiate
• 4.3 Pay Attention to Price vs Features
• 4.4 Shop Used RVs

Will RV Prices Go Down in 2024?

The latest 2024 RV sales forecasts from industry associations are optimistic. In fact, the RV Industry Association (RVIA) projects a significant increase in wholesale RV shipments.

They predict that annual RV shipments will range 363,700 to 375,700 units, which would mark more than a 20% increase from the expected totals of 2023, showing a potential resurgence in the industry​ ​​ ​.

However, the trend of RV prices will be shaped not only by shipment numbers but also by broader economic factors such as interest rates, inflation and consumer purchasing power. In fact, many experts think the industry forecasts are overly optimistic given the current market conditions.

With the rise of economic inflation and lending rates, as well as fluctuating diesel prices, we agree with many experts that RV prices will decline in 2024 . However, there may be some exceptions, such as more fuel-efficient models like Class-B camper vans​ ​​ ​.

2023 RV Market Trends Recap

A Year of Decline

2023 has been a challenging year for the RV industry. Shipments plummeted by 42.8% compared to the previous year, a decline reminiscent of the 2007-2009 financial crisis​ ​. This decrease can be attributed to various factors, including the end of the pandemic RV boom, rising interest rates and shifts in consumer spending habits.

The decline was consistent across different RV types, with both towable and motorized RVs experiencing a nearly identical drop of around 16% in sales. This uniform trend indicates a broader market shift rather than segment-specific issues​ ​.

Interest rates and consumer spending habits, reshaped by the pandemic, played a significant role in this downturn. The shift in consumer behavior, coupled with economic pressures, led to reduced demand and a consequent drop in prices.

The Used RV Market: A Mixed Bag

The used RV market, meanwhile, has shown fluctuating trends. According to a fall 2023 analysis by Bish’s RV , the value of towable RVs in the used market appeared to be rising, while motorized RV prices were up and down throughout the year.

These trends seem to correlate with the introduction of lower-priced options in the new RV market, affecting the valuation of used RVs​ ​.

Predictions for RV Market Trends in 2024

New RV Price Predictions in 2024

The pricing of new RVs in 2024 is likely to be influenced by a combination of economic factors and consumer demand. Given the projected increase in RV shipments, ranging from 363,700 to 375,700 units, there is an indication of a recovering market​ ​​ ​.

However, the impact of economic inflation, interest rates and fuel prices will play a crucial role in determining the final pricing. In fact, Greg Fore, former chairman of the RVIA, predicts a stagnant RV market in 2024.

The macroeconomic headwinds continue to blow, making RV market growth difficult in the short term. John Fore

If his predictions are correct and demand for new RVs does not increase, RV prices will decline in 2024.

Anticipated Discounts and Negotiations

In a typical RV market, discounts of 20% to 30% off the MSRP have been common, but recent years have seen a shift. During the pandemic, high demand led to RVs selling closer to the MSRP.

As the market stabilized, discounts returned in 2023, albeit in the range of 10% to 20%, with fewer instances of the higher 30%+ markdowns seen in pre-pandemic times​ ​​ ​.

However, as dealership lots return to healthier inventories, the trend in 2024 will likely lean towards more generous discounts​ ​. In fact, on a recent shopping trip, I saw several new RVs listed around 30% off the MSRP.

Used RV Price Predictions in 2024

The used RV market in 2024 will likely continue to offer value, especially considering the depreciation factor of new RVs. As new RV prices stabilize and potentially decrease, the value of used RVs might also adjust accordingly.

The trend observed in 2023, with the value of towable RVs in the used market rising and motorized RVs experiencing alternating value shifts, is indicative of a market that responds dynamically to new RV pricing trends​ ​.

2024 Manufacturing Adjustments

Decontenting.

One RV market trend that is clear with the release of 2024 models is decontenting. Decontenting is simply removing features from RVs. Responding to consumer price sensitivity, many manufacturers have introduced more affordable RV options that come equipped with less bells and whistles.

For example, Winnebago has launched the Access travel trailer series and Grand Design launched the 100 Series, a more affordable version of their popular Reflection fifth wheels. This shift towards cost-effective models could lead to a broader range of prices in the market, making RVs accessible to a wider audience.

Innovation and Technology

As the industry moves towards 2024, manufacturers are likely to continue focusing on innovative designs, particularly in response to the growing interest in electric RVs, lightweight and compact models and sustainable RVing practices​ ​. These advancements are not only in response to consumer demand but also align with global trends towards sustainability and eco-friendliness.

How to Get the Best Deal on RVs in 2024

Shop for New Older Year RVs

As 2024 RVs start filling dealership lots, the dealers will be eager to sell previous model year RVs that have been sitting for a significant amount of time. If there are any new 2022 model-year RVs left on the lot, the dealer will likely be willing to make you a sweet deal to get rid of this two-year old inventory.

As the year progresses, 2023 units will also be available at a bigger bargain. Ask your local dealer when they expect to receive new inventory of your desired brand, and try to buy the previous year model shortly before the new inventory is expected to arrive.

Don’t Be Afraid to Negotiate

When it comes to buying a new RV, don’t be afraid to negotiate. While dealers may have been unwilling to negotiate during the RV boom, the bubble has burst and there are now deals to be had.

While out shopping for travel trailers recently, I saw several new 2024 RVs with a list price at least 25% off the MSRP. This indicates that dealers are ready to make deals in order to get their inventory sold.

Shop around at multiple dealerships, and always ask for a discount off the listed price. If the dealer is unwilling to lower the price, check if there are other upgrades or service packages that could be included to sweeten the deal.

Pay Attention to Price vs Features

With the RV decontenting trend that we discussed earlier, it is important for buyers to pay attention to the features included in a new RV. Affordable RV models may have lower-quality interior finishes or lack convenience features, such as auto leveling.

Many campers are fine with a RV that lacks nice-to-have features but is available at an affordable price. Buying one of these affordable RVs isn’t necessarily a bad thing, shoppers just need to be informed about what they are really buying.

Shop Used RVs

While the used RV market has been somewhat volatile in the last few years, used RVs still generally provide the best deal. RVs depreciate quickly . In fact, most RV values will depreciate around 20% after just one year of ownership. If you are on a tight budget, you should consider buying a used RV which will get you more rig for your money.

However, buyers should be extra careful when buying used RVs. A used RV is worth significantly less than its book value if it has severe water damage or other major issues. Find a certified RV inspector at the  NRVIA’s website and have the RV thoroughly checked before buying.

In summary, in 2024 new RV prices are likely to be more generously discounted compared to the pandemic era. However, the used RV market continues to offer value, especially considering the depreciation of new RVs.

Manufacturing trends are leaning towards more affordable, innovative and eco-friendly models. For buyers, the best strategies include considering older model-year RVs for new purchases, negotiating effectively and exploring the used RV market with due diligence.

Overall, the RV market in 2024 presents opportunities for both new and seasoned RV enthusiasts to find deals that align with their budget and lifestyle preferences.

Happy Camping!

Christina Pate is a seasoned full-time RVer who, along with her husband Justin, has journeyed across the US, Canada, and Mexico. Drawing from her extensive travels, RV repairs and RV renovations, she founded Travels with Ted to guide and inspire fellow RV enthusiasts. Christina is also the co-author of The Owner’s Guide to RV Maintenance and the creator of My RV Log Book .

EXCLUSIVE: Used Travel Trailer Prices Fall

Black Book, a provider of industry data analysis, found mixed pricing information stemming from dealer-only used RV auctions.

In September, motorhome prices rose 7.2% from August, while travel trailer and fifth wheel prices fell 9.3% from the same month.

Eric Lawrence, principal automotive analyst for specialty vehicles at Black Book, said this movement caused him to be uncertain about where used vehicles prices could go from here.

“What I like to see is when the motorhome and travel trailer values all move in the same direction,” Lawrence said. “It lets me know that the market is stable if everything is flat, going up or going down.”

However, in August, motorhome values dropped 7%, before “bouncing” back to the second-highest value recorded. Travel trailers could be poised to do the same, Lawrence said, but until new data comes in, predicting a market curve is nearly impossible.

Lawrence noted older vehicles typically depreciate, but used travel trailers and motorhome prices swung up in the past year.

“These are not depreciating as they get older like they should be, prices are actually going up,” Lawrence said. “We expect at some point that they should flatten or depreciate as every asset does. But right now, I do not know why they are bouncing up and down like that. It is a mystery.”

Lawrence said used RV prices typically have an annual cycle — in the spring, prices go up. In autumn, prices go back down as demand falls.

“It is just weird that they are bouncing around like this,” Lawrence said. “Is it a trend? Is it just the selection of vehicles that happened to be sold this month? Is it just vehicles in worse condition sold this month, or motorhomes sold in great condition? There are lots of intangibles to account for.”

Lawrence said no answers will be found until data for October, and perhaps November, is released. He said before September’s data was released, he anticipated prices heading to a more stable range, perhaps setting the “new normal.”

“Looking at a long-time curve will make more sense,” he said. “This is a story designed to be seen in two parts. I am dying to know what is going on right now, but until I have the data at the end of the month, I do no know what prices will be doing.”

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A warning sign has been flashing red: How weak RV sales could mean a 2023 recession.

If you still have doubts about whether the U.S. will slip into a recession , perhaps this will dispel them: the RV industry is significantly weakening.

A slump in recreational vehicle sales has long been considered an early warning sign of a broader economic downturn because an RV is such a discretionary, big-ticket purchase. It thus reflects a shift in the mood of the American consumer before other types of spending, the theory goes. And consumption makes up about 70% of the U.S. economy.

The Elkhart, Indiana, metro area, where about 80% of RVs are produced, is similarly viewed as a leading gauge of where the U.S. is headed because the region is so dependent on the industry.  

In November, RV shipments from manufacturers to dealers tumbled 50.4% from the same period a year earlier to 24,445, according to the RV Industry Association (RVIA). For the first 11 months of 2022, wholesale RV shipments totaled 472,691, 15.6% below the year-ago figure, the trade group says.

“If production doesn’t rebound, it’s a very strong signal we will be moving into a recession next year,” says Michael Hicks, an economics professor at Ball State University who studies the industry.

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Is the RV craze over?

Keep in mind the industry notched record shipments of 600,240 in 2021 as people wary of traditional travel options during the pandemic or frustrated by COVID-19-related airline restrictions splurged on RVs and hit the open road. Shipments continued to break records through May 2022 before moderating in June and falling sharply the second half of the year.

RVIA says makers simply have been dialing back production to historic pre-pandemic levels as the health crisis has eased.

“What we are seeing now is the expected normalization off of that record production as the industry settles back to production levels more in line with our 10-year average,” RVIA said in a statement. “The desire for outdoor experiences and travel remains strong among the American public.”

This year marked the third-strongest ever for RV shipments, the group says. Monika Geraci, an RVIA spokeswoman, says “it is important to look at the full year to get the full picture.”

But Hicks said the slowdown in recent months represents more than a return to the pre-COVID trend, noting November was the second-weakest of any month since 2016.

What happens when the Fed raises interest rates?

The slide, he added, can be traced to the Federal Reserve’s aggressive interest rate hikes to bring down inflation, with the Fed’s key rate rising by more than 4 percentage points this year. That has sharply increased borrowing costs for RV buyers, who almost always finance their big purchases, Hicks says.

RV prices average $5,000 to $63,000 for a trailer and $80,000 to $140,000 for a motor home but can range up to $1 million, RVIA says. Interest rates to finance the purchases now average 4.89% to 11.89%, according to Bankrate.

With rates rising and recession fears growing, “you’ll be pretty careful" about financing an RV, Hicks says. “You’re still going to go out to a restaurant or take a trip.”

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But as rates rise and take a bigger toll on Americans’ pocketbooks, they’ll cut back even on those activities, leading to a recession, Hicks says. RVs, he adds, are a good warning signal because the impact on the industry is larger and happens sooner than in other sectors.

High gasoline prices also have helped dampen sales and shipments of fuel-chugging RVs (even if they're towed), though that has been less of a factor recently as pump costs have fallen, Hicks says.

What is the current state of the economy?

Other economic indicators have been mixed recently. Housing and manufacturing have weakened substantially. Consumer spending has softened but is still solid, partly because household finances are in good shape. Job growth has slowed but remained sturdy. And business investment has held up surprisingly well.

Most economists are expecting a mild recession next year as the Fed rate hikes increasingly squeeze consumers and businesses, according to monthly surveys by Wolters Kluwer Blue Chip Economic Indicators. But some research firms, including Goldman Sachs and Moody’s Analytics, believe the U.S. will narrowly avoid a slump.

Hicks says he had predicted a “soft landing” for the economy that dodges recession but changed his forecast after studying the latest RV figures.

Although every downturn over the past four decades has been preceded by an RV slump several months earlier, most – but not all – declines in RV shipments have been followed by recessions, Hicks says. He says he’s more confident a recession is coming this time because the pullback in RV shipments has been dramatic.

"Falling RV sales are not always, in and of themselves, a recession indicator," says Gus Faucher, chief economist of PNC Financial Servicers Group. But, he said, "I do think what’s going on with RVs in late 2022 is an indication that high interest rates are starting to drag on the economy. ... The economy will feel the impact of those high interest rates more fully and broadly in 2023."

The Elkhart area saw its unemployment rate rise to 2.8% in November, highest since June 2021, but that's still well below the nation's jobless rate. So far, most RV manufacturers are trimming hours and extending holiday production hiatuses rather than laying off workers because of longstanding worker shortages, Hicks says.

What does it mean when the yield curve is inverted?

RV sales aren’t the only economic bellwether flashing red.

Normally, interest rates are higher for longer-term bonds than shorter-term ones because investors need to be rewarded for risking their money for a longer period.

Yet the yield on the 2-year Treasury bond has hovered above the 10-year Treasury since July and remains about half a percentage point higher. Such an "inversion of the yield curve" has been a reliable signal of a coming recession because investors move money into safer longer-term assets – pushing their prices up and their yields down – when the economic outlook grows dimmer.

But the lag between a yield curve inversion and recession has been imprecise in recent decades, ranging up to 22 months, according to research firm Statista.

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2023 RV Prices: How Much Should You Expect to Pay for a New Rig?

RVs saw a dramatic spike in demand from 2020 to 2022. During this period of RV mania , Americans sought ways to escape the pandemic-related flight restrictions. People looked to campers and motorhomes to enjoy socially distanced vacations or work from a mobile office. The increased sales sent RV prices skyrocketing, leaving many wondering if they would remain high or return to pre-pandemic rates. So, what are 2023 RV prices like?

What is the average price of a new RV?

RV sales soared in 2020 and 2021 as people looked for ways to get out and enjoy the sights and fresh air. Total RV sales spiked by 53.5% in 2020, prompting manufacturers to struggle to meet the demand. With the increased demand came higher prices. 

RV prices vary according to the model. According to Camper Report, average prices for towable RVs in 2021 were as follows:

• Pop-up campers, $16,900
• Teardrop trailers, $23,900
• Travel trailers, $35,100
• Fifth wheels, $70,000

Average motorhome prices were as follows:

• Class A , $375,800
• Class B , $134,000
• Class C, $148,000

As the world adjusts after the pandemic and air travel has resumed, the demand for recreational vehicles has dropped, gradually decreasing 2023 RV prices. So potential buyers should expect slightly lower prices than those listed above.

Will 2023 RV prices continue to drop?

Despite the optimistic forecast, the RV Industry Association (RVIA) reports that the total RV shipment in March 2023 was 31,869, a 50.8% decrease year-over-year from March 2022. RVIA notes that sales are down by 54.3% compared to 2022. That decline can be seen as a return-to-normal market trend expected to continue throughout 2023.

As 2023 progresses, RV shoppers should expect average prices to decrease due to increased RV supply and reduced demand. The looming economic recession might also increase the RV supply.

According to Camper Report, people who tried the RV lifestyle for the first time during the pandemic might face higher loan interest rates and higher RV ownership costs . As a result, many might sell their recreational vehicles as the economy heads toward a recession.

Although most industry insiders predict 2023 RV prices will drop, RV Travel reports that inflation could do the opposite. For the past 20 years, the United States had not seen a high inflation rate until the beginning of 2022. In response, RV prices could still rise this year.

How to get a good deal on an RV in 2023

With fluctuating prices and mixed views from industry experts, many potential buyers wonder if it’s a good time to get a deal on an RV. A recession in 2023 would likely push many slightly used RVs onto the market. However, to get the best deal , shoppers must know the type of RV they want and how much they’re willing to pay. They also should never pay the sticker price.

In addition, the ideal times to purchase an RV are at the end of the month or in the slowest months. Dealers want to meet monthly quotas, so shoppers are more likely to find incentives and discounts toward the end of the month. According to Camper Report , January, February, July, and August are typically good months to find the best RV deals.

Also, consumers must understand that RVs are not meant to sit in one spot for months or years. Otherwise, the tires and other vehicle components might suffer from inactivity. So Camper Report advises shoppers to avoid low-mileage motorhomes or at least have an independent RV inspector check them.

RV shoppers in 2023 might face less of a hit to their wallets. Industry insiders say the high demand for motorhomes and towable rigs during the pandemic has dropped. The law of supply and demand that fueled RV price spikes is bringing them down this year.

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Deisy Ventura began contributing content to Endgame360 in 2021 and works primarily with content for Showbiz Cheat Sheet, though she occasionally writes for MotorBiscuit as well. She has a bachelor’s degree and has written over 900 articles. When she’s not busy writing, she loves to renovate her home to recreate her space.

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RV Prices: Will They Lower in 2024?

• Last updated on December 6, 2022
• by Schuyler Wigen

RV prices have been steadily increasing over the past few years, making it difficult for many shoppers to afford them.

The trend has continued into 2024, and it’s not showing signs of slowing down. Inflation and rising interest rates are contributing factors, causing many Americans to reassess their budgets and hold back on big-ticket purchases.

But why are RV prices increasing at such a fast rate, and is there any hope for a decrease in the near future? Keep reading to find out and learn how you can still buy an RV at an affordable price.

Table of Contents

4 deep-rooted reasons behind the escalating rv prices, 1.adaptation to the new normal: embracing the rv lifestyle.

While the COVID-19 pandemic initially sparked a surge in RV interest, this trend has evolved in 2024. In response, a significant number of individuals, deeply desiring exploration while prioritizing their safety, pivoted towards RVs as a viable solution. This surge in interest transcends a mere momentary reaction; it signifies a profound societal shift towards wholeheartedly embracing the RV lifestyle. Even with the widespread availability of vaccinations, pervasive concerns regarding potential infections persist. RVs, by offering a relatively safer mode of travel and accommodation, continue to be in high demand, thus sustaining their elevated market prices.

2.Supply Chain Disruptions: A Domino Effect

The initial imposition of lockdown measures, aimed at stemming the spread of the virus, inadvertently triggered a significant ripple effect, causing severe bottlenecks in both production and logistics. RV manufacturers found themselves constrained not only by shortages in critical equipment but also by the suspension of vital global shipping routes. The repercussions were not limited to stalled production alone; RVs found themselves ensnared in a state of limbo during transit. Even as the global landscape gradually recuperates, manufacturers are grappling with the monumental task of clearing past backlogs. This backlog clearance effort profoundly impacts current supply chains, perpetuating the surge in RV prices.

3.Skyrocketing Production Costs: The Ripple Effect of the Pandemic

Critical Components and Escalating Costs in RV Manufacturing Even before the onset of the pandemic, essential components for RV manufacturing, such as chips, constituted a significant cost factor. However, the disruptions induced by the pandemic exacerbated these costs substantially. The decreased operational capacity of factories resulted in a sharp decline in production rates, while challenges in transportation further contributed to escalated shipping expenses. These mounting expenditures were inexorably transferred to the end consumers. Moreover, the persisting challenges faced by the shipping industry, particularly in fulfilling prior orders, have maintained a strain on the supply chain, adding to the enduring high prices of RVs.

4.The Allure of Self-Sufficiency: A Paradigm Shift in Travel Preferences

The Evolution of Modern Travelers: Prioritizing Autonomy and Self-Sufficiency The contemporary traveler is undergoing a transformation, placing a premium on autonomy and self-sufficiency over traditional travel luxuries. RVs, inherently equipped with indispensable amenities like kitchens, toilets, running water, and electricity, embody this paradigm shift in travel preferences. The allure of having all essential provisions within arm’s reach, combined with the cost-effectiveness of bypassing hotel accommodations, has significantly heightened the appeal of RVs. As affirmed by Condor FERRIES, opting for an RV vacation can lead to substantial savings, reaffirming the RV’s status not merely as a travel alternative but a financially prudent and attractive choice for discerning travelers

Will RV Prices Lower In The 2024?

Amidst the Current RV Market Landscape, the burning question for potential enthusiasts of the RV lifestyle revolves around the trajectory of RV prices – will they see a decline in the near future? Intriguingly, delving into this inquiry inevitably leads us to a crucial factor: the lingering impact of the pandemic. Let’s explore the intricate connection between the evolving RV market and the pandemic, unraveling why this question remains pivotal and complex.

The Effects of COVID on the RV Industry

The global disruption caused by COVID-19 reverberated across nearly every industry, fundamentally altering the business landscape. The RV sector was no exception, undergoing shifts spurred by lockdowns and the rapid transition to remote work. Presently, indications point towards a continued upward trajectory in RV prices, primarily propelled by the growing prevalence of remote work, enabling individuals to maintain their professions while embarking on mobile journeys.

This surge in remote work has significantly influenced an influx of RV purchases, as individuals seek the freedom to work while embracing the RV lifestyle. The allure of a flexible work environment while traversing various locations sustains the high demand for RVs, thus exerting upward pressure on their prices.

Additionally, the pandemic acted as a catalyst for surging RV sales. Escalating inflation rates and a surge in unemployment left many individuals financially constrained, making traditional accommodation options less feasible. Consequently, owning motor homes has become an appealing alternative, offering a place to reside without the burden of rent. These economic circumstances have bolstered demand for RVs, contributing to the current high pricing.

However, amidst these factors elevating RV prices, there remains a glimmer of hope for prospective buyers. Several compelling reasons suggest a potential for price reduction in the future:

Growth In The RV Market

Unlike before when supply was very low, currently more RVs are getting imported into the country. According to the  RV Industry Association , 64,454 units were shipped in March 2022 as compared to 54,291 units in March 2021, which is an 18.7% increase. 

As the year goes on, a higher percentage than that may be shipped into the country, saturating the RV market with more vehicles. The increased supply might result in lower prices especially if demand lowers.

Availability of Different Travel Methods

With the economy opening up since a great number of the population was vaccinated against the coronavirus and therefore attained herd immunity, other means of transport are back to functioning fully.

Travelers can now fly to their tourist destinations or take a train, which is a more suitable way of travel for some people who took to RVing only because they had no other option. Consequently, they will have to sell off their vans since they no longer have use for them, and low interest in them will result in lower prices.

RV shipping rates will lower in the second half of the year 2023 due to the market normalizing. The RV industry is also expected to experience a 1.5% decrease in shipments from 600,240 units in 2021 to 591,100 units at the end of 2022.

More people dropping out of the RV life

Some people are realizing that the camper lifestyle isn’t for them and are willing to sell their RVs. Because the concept of sleeping and cooking in tight quarters isn’t as glamorous as they thought. Also, few people buy the wrong RVs as they have no idea  what to look for when buying a travel trailer . Therefore, they try somehow to get out of this RV life.

So when more used RVs come onto the market, manufacturers and suppliers will be forced to lower the rates for new ones. As a result, general prices for all RVs will drop. 

Another reason that could force travelers to abandon RVing is the fact that fuel prices are rising because of inflation and aren’t expected to come down any time soon because of the Ukraine-Russia war.

How to buy RVs at an affordable price?

Much as prices for RVs are still high in 2024, you can buy one less expensively if you do the following:

• Buy from a manufacturer

The price from the manufacturer will not have a surcharge that dealerships always add to make a profit. So you will get your RV at a lower price than you would if you went through the middleman. To get  campers at affordable rates ,  Ecocompor  is the best RV manufacturer to buy them from. 

Moreover, if you go for ready-made or rather mass-produced RVs by the company without asking for any modifications, their rate will be further lowered. Manufacturers buy production equipment in bulk, which makes the items inexpensive.

However, when you ask for alterations on the RV, they’ll have to buy the already expensive parts at a higher price because they’re buying a few of them. 

• Opt for towables

Drivable RVs cost more than towable ones because they need an engine to move, which is costly. They also use both manual and automatic functions which require intensive work to fix and this doesn’t come cheap. 

If you don’t mind towing your RV, then buying one is the cheaper option. Aside from that, maintenance of a towable is cheaper because it doesn’t require fueling or servicing. 

• Negotiate at dealerships

If you decide to buy your RV from a dealership,  do negotiate with the salesman  because showrooms always add an extra charge of about 20-30% on top of the prices they buy the RVs from manufacturers. 

So they’re willing to offer you a discount as long as they can still earn a profit. Moreover, you should purchase it from dealerships in states that don’t have a sales tax like Montana, Oregon, New Hampshire, Delaware, and Alaska. But that’s if you stay there because most states apart from Montana only allow registration of RVs for residents.

Also, read carefully the purchase papers to avoid paying for add-ons like an extended warranty that make the RV price more expensive. 

• Wait for the fall season

Prices tend to go down during this season because of low demand since most people prefer to stay indoors. So, much as prices for campers are expensive right now and we’re also still high during the fall of 2021 because of high demand, things could be different this year-round.

The reason is that things might have gone back to normal by then and most people would be opting to go on holiday to other countries. For example, going on Caribbean and Mediterranean cruises or sunbathing in the Riviera Maya.

It’s advisable to buy RVs from October to February when winter is in full swing. Notably, there was a decrease in camper prices for towables and motorhomes in January and February 2022 because they’re cold months that tend to put most travel to a stop.

• Buy used RVs

Many COVID buyers are now selling their RVs because they no longer have a need for them now that travel is back to normal. While others are selling because they want to be able to recover most of the money they invested in their campers. We have a complete discussion on  New vs Used travel trailers  you can check it out as well.

The resell price of RVs starts depreciating as soon as you purchase them and the longer you take to put them on sale, the lower the amount you will get for them. So, as more used RVs are put on the market, their value will go down and you’ll be able to get a good deal. 

However, you need to keep in mind that, unlike new RVs, old ones don’t come with security and a warranty. You will therefore end up incurring all the costs if you find any faults on the camper after purchase. For that reason, you should go with someone who’s an RV expert to check it out before you buy it if you lack much understanding about these vehicles.

Is 2024 a Good Time to Buy an RV?

With the market showing signs of stabilization, 2024 might present more favorable conditions for purchasing an RV compared to previous years.

Is the RV Industry Slowing Down in 2024?

While the industry is not necessarily slowing down, it is adapting to a new equilibrium post-pandemic.

Why Were RV Prices So High?

The combination of pandemic-induced supply chain disruptions, increased demand, and production costs drove up prices in the past.

Final Thoughts

As we navigate through 2024, the RV market is showing signs of reaching a new normal. While the days of inflated prices due to pandemic-related factors seem to be waning, it remains crucial for prospective buyers to stay informed and strategic to find the best deals in this evolving market.

Schuyler has been working and playing outdoors his entire adult life. As a ski-bum in his early 20’s, he began building campers in the beds of pickup trucks to pursue a life of freedom and adventure. After a decade of experience as an artist and carpenter in Washington State, he moved to Colorado to work as an RV technician, converting vans into luxury campers. Now he is traveling the world, using writing as a way to continue his passion for creativity and artistry.

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September 2023 RV Sales Update and the Surprising Shifts in the Market

By Bish's RV

By Greg Long

A Dive into RV Sales Numbers

Numbers tell a story. By looking at RV Sales numbers, we can predict what’s going to happen in the RV industry in the up-coming months.

My good friend, Josh the RV Nerd and I have looked at the RV sales numbers for September and what we found is not great − but it’s not necessarily terrible.

This RV sales report will give you a very broad overview of what we’re seeing happening in the RV industry. Knowing the RV market conditions will help you make better decisions when buying or selling your RV.

Get all the RV Industry Updates for September 2023 with Josh the RV Nerd

The RV Production Landscape

Rv production is  down 47%.

Wholesale shipments, or new RV production, have seen a pretty hefty decline. This decline isn’t unexpected, especially when comparing last year’s numbers with the current stats.

The Covid pandemic influenced a surge in RV production in 2020-2021, but we’re now observing this trend normalizing. However, even though there’s a drop in production, it doesn’t signify a decreased interest in the RV lifestyle.

To learn more about how supply and demand affect the prices of RVS read the article,  Is Now a Good Time to Buy an RV? — How Supply and Demand Impact RV Price

The pop-up camper market, pop-up camper market down 70%.

One surprising insight was the significant drop in the folding camper or pop-up market. The reasons for this decline are unclear.

Speculating on the Pop-Up decline, three possible reasons are most likely:

• Shift to Larger RVs:  Over the last year, many people have turned to RVing as a means of travel during the pandemic. Given that they’re spending more time in their vehicles, there might be a preference for larger, more amenity-rich travel trailers or motorhomes rather than the more basic pop-ups.
• Work from RV Trend:  The rise in remote work has led to an increasing number of individuals and families adopting an “RV lifestyle,” where they work and live from their RVs. Pop-ups might not offer the kind of space and amenities that full-time RVing requires.
• Dealer Focus:  If dealers are working with tighter margins, they might push for the sale of higher-ticket items, which could mean less emphasis on pop-ups.

Considering buying an easy-to-tow Pop-Up Camper? Check out these Great Deals on Pop-Up Campers!

RV Production vs. RV Sales

There’s a difference between what’s built and what’s sold.

Although production is down by 47% from last year, sales are only off by 24%. This means RV Sales are currently out-pacing RV Production. That’s Good News!

This discrepancy between RV Production and RV Sales may be influenced by various factors, such as:

• Sales of Older Models: With the uncertainty of new RV arrivals, dealers offered discounts or incentives on older models, driving up sales from existing stock.
• Anticipation of High Demand: Given the increased interest in RVs during the early days of the pandemic, lots of dealers preemptively ordered more units in anticipation of continued high demand, allowing them to weather the production decrease better.
• Existing Inventory: Most RV Dealerships started the year with a significant inventory from the previous year, allowing them to sustain sales even with reduced new RV production.

Canadian RV Market Pulse

Canada had some interesting differences from our U.S. RV Market trends:

• Canada’s towable RV production saw a significant decline than the U.S.
• There was a notable increase in motorized RVs moving into Canada.

Used RV Market Trends

The used RV market, particularly in towable trailers, has seen an increase in auction volume.

Dealerships are possibly trying to offload older inventory to make way for newer models.

Surprisingly, many of these RVs are quite recent models, from around 2019, making them great deals for potential buyers.

As long as a used RV is 5 years or less than the current model year for the type of RV it is, it “may” qualify for “new RV” loans and financing – which are typically much better rates and payment plans.

We say “may” qualify, as it is up to each individual loan provider to determine the terms for their loans.

Check out our amazing selection of Used RVs.

Used Towable Sales Data:

With an average age of 2019, the average price for a used RV sits at $25,056, marking a 17.3% increase.

Shop Used RVs and find a great deal!

The Used Motorized RV Market Mystery

The used motorized RV market displays a peculiar trend. There’s a consistent up-down trend in values, and the exact reason for this yo-yo effect remains uncertain. It’s a phenomenon that even seasoned experts like Josh the RV Nerd find intriguing.

Used Motorized Sales Data :

Despite the price fluctuation trends, the average price is now $68,405, a decline of 6.8%.

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Deciphering the RV Market: A Glimpse Beyond the Numbers

The RV market, like many other industries, is ever-evolving. With insights from experts like Josh the RV Nerd, we can better navigate these changes, understand the trends and make informed decisions.

Whether you’re an RV enthusiast, a potential buyer, or just curious about the market, staying updated with such information is crucial.

Come back to the Bish’s RV Learning Hub in October for more Sales Data updates on What’s hot and What’s not in the RV industry.

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Used-Car Prices Are Finally Dropping; Here’s What to Expect in 2023

By Jane Ulitskaya

The last two years have challenged used-car shoppers on a number of levels. As the microchip shortage wreaked havoc on new-car inventory, shoppers turned to used cars as an alternative, which led to sinking inventory and skyrocketing prices . While many chose to wait out the storm in hopes of a wider vehicle selection, others were simply priced out of the market entirely. As 2022 comes to a close, some promising signs indicate that used-car prices have peaked and will continue to fall in the coming year. Here’s what the market looks like today and what shoppers should expect when buying a used car or trading in their vehicle in 2023.

Related: When Will Used-Car Prices Drop? 3 Things Car Shoppers Should Know

Used-Car Price Trends

The Bureau of Labor Statistics’ consumer price index tracks monthly changes to consumer spending on goods and services. The most recent report for November shows a 2.9% drop in spending on used cars and trucks compared to October, marking the fifth consecutive month of declines. Used-vehicle spending also fell 3.3% over a 12-month period from November 2021 to November 2022; that’s in stark contrast to new-car spending (which jumped 7.2% over the same period) and the overall index (which rose 7.1%).

Automotive analysts from J.P. Morgan agree that used-car prices have most likely peaked after climbing 43% from February 2020 to September 2022. As new-car production improves, demand for used cars will ease up and prices will continue to fall in the new year. The firm estimates that used-car prices will drop 10%-20% in 2023; new cars, on the other hand, are predicted to see a modest decrease of just 2.5%-5%.

According to Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions, the easing of the microchip shortage and new-car production improvements are responsible for the recent drop in used-car prices:

“The worst of the microchip shortage should be behind the automotive industry,” wrote Fiorani in an email to Cars.com. “With an increased focus on finding chips for cars and trucks, the shortage started easing, but the slowdown in demand of electronics has helped even more. During the pandemic shutdown, the demand for new tech devices grew sharply, limiting access to chip production. Over the last year, this demand has slipped, opening chip production capacity and allowing the automotive industry better access to semiconductors. … There are still bottlenecks in shipping and the supply of other components holding up vehicle output, but none as severe as slowdowns associated with the chip shortage.”

Cars.com Data: Prices Inch Down

After reaching a peak of $25,721 in February, average used-car prices among Cars.com dealers have been on the decline, with more substantial drops seen in recent months: In October, the average price for all used vehicles was $23,499 — down 3.4% compared to one year prior and 7.8% compared to April 2022. The trend continued in November with an average used-car price of $23,000 — a nearly 8% drop from the same time a year prior.

Average prices on some of the most popular models are following suit: The average used price across all model years of the Chevrolet Silverado 1500 has dropped nearly 11% from November 2021 to November 2022, while prices on the Ram 1500 and Ford Explorer are down approximately 9% and 10%, averaging $29,590 and $23,499, respectively. Other popular used pickups like the Ford F-150 ($27,619 average price) and Toyota Tacoma ($30,988) have seen prices drop approximately 6% year over year. Finally, bestselling compact SUVs like the Toyota RAV4 and Honda CR-V saw prices decrease 2.4% and 5.3% on average.

This trend doesn’t apply to all models, however — namely Toyota sedans. The average price of a used Camry climbed 0.6% year over year at $18,873, and there was no change in the average price of a used Corolla at $16,574.

Newer Vs. Older Model Years

Shoppers looking for a gently used car in the coming months may notice a steeper price drop than those considering an older variant. The average price of a 2020 model among Cars.com dealers was $32,555 in November — down 4% compared to the prior year. Meanwhile, the average price on a 2018 model rose 1%, reaching $27,000. And there was no change in the average price of a 2013 model at $15,990.

Even as falling prices point to light at the end of the tunnel for shoppers, it’s worth noting average used-car prices still hover well above those seen before the inventory shortage began: The average used-car price among Cars.com dealers in November 2020 was $18,321 — two years later, prices have jumped by nearly 26%.

Inventory Gains

Not only will used-car shoppers likely find more affordable options in 2023, improving inventory levels should make finding the right vehicle easier. The average number of days a vehicle spends on a dealer lot is a good indicator of inventory levels, and among Cars.com dealers, that number has been on the rise, climbing from 30 days in November 2021 to 46 days in November 2022.

“With the inventory of used vehicles growing, that power is shifting back toward buyers, and lower prices reflect this,” noted Fiorani. “Prices will continue to slide, but getting prices back to the pre-pandemic trend will not happen quickly. Buyers should expect to pay more than they did in 2019 for a while as manufacturers and dealers are not anxious to load up to pre-pandemic inventory levels.”

How Does This Impact My Trade-In?

When used cars became a scarce commodity, trade-in values soared as dealers aimed to fill their empty lots. Even among all the hurdles shoppers were faced with, those with a car to trade in or sell were presented with a lucrative opportunity to get top dollar for their current vehicle. According to J.D. Power , the average trade-in value hit a record high of $10,381 in June — a 49% jump from the same time a year prior.

After three consecutive months above $10,000, average trade-in values have started to drop: J.D. Power’s December sales forecast shows the average trade-in now brings in $9,316, down 3.1% from December 2021 and $786 less than the June peak. While vehicle trade-ins are still bringing in significantly more than in previous years (the average was $5,626 in December 2020), it’s likely that these values will continue to fall in the coming months alongside used-car prices.

More From Cars.com:

• Inventory Shortage Update: Should You Wait to Buy a Car?
• Inventory Shortage Leaves Little Room for Haggling; Here Are 5 Other Ways to Save on Your Car Purchase
• Should You Trade in Your Car or Sell It Privately?
• Amid Inventory Shortage, Used Prices Approach New
• More Car-Buying Advice

What to Expect in the Coming Year

If the preceding trends continue, used-car shoppers will see barriers lifted in 2023 as used-vehicle inventory grows and average price tags continue to drop. But as some conditions improve, it’s important to be prepared for new challenges like lower trade-in values, economic uncertainty and rising interest rates. According to Experian , the average used-car interest rate in the third quarter of 2022 was up across all credit scores compared to the same time a prior year, ranging from 3.7% for super prime to nearly 20% for deep subprime scores. That’s an increased rate change of 1.3% for super prime and 0.5% for deep subprime.

According to Fiorani, however, there are still many reasons to be optimistic if you’re shopping for a used car.

“Better access to chips and other components will help manufacturers increase output of vehicles, while the idea of a looming recession is slowing demand,” he wrote. “A consistent demand for new vehicles and a limited supply of product allowed dealers to sell at or above MSRP, with many dealers adding on surcharges to all new, and many used, vehicles. With more supply and potentially less demand, prices in 2023 should begin to slip. Growing inventories will eventually remove the surcharges and allow buyers to negotiate even lower prices, getting the market back to something looking more ‘normal.’”

Related Video:

Cars.com’s Editorial department is your source for automotive news and reviews. In line with Cars.com’s long-standing ethics policy, editors and reviewers don’t accept gifts or free trips from automakers. The Editorial department is independent of Cars.com’s advertising, sales and sponsored content departments.

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