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In a normal year, used RV values would be decreasing in the fall due to the end of the prime camping season. But this is no normal year. Many have wondered at what point RV values might begin to decrease after an unprecedented seller’s market was ushered in during the pandemic. The answer is — not yet.
Black Book has released its October study of the wholesale auction market, showing that both motorhome and trailer values increased again after a slight dip in August and September.
“Wholesale values are up across the board, mirroring the seemingly never-ending growth on the new side, where shipments have just notched another all-time high. Perhaps the rise in motorhome values reflects concerns about possible chassis shortages next year.”
-Eric Lawrence, Principal Analyst, Specialty Markets
Wholesale RV Values Increase Across The Board
For Motorhomes (including Class A, B, and C):
- Average selling price was $81,384, up $6,394 (8.5%) from the previous month.
- One year ago, the average selling price was $53,601.
- Auction volume was down 22.4% from the previous month.
- The average model year was 2010.
For Towables (including Travel Trailers and Fifth Wheels):
- Average selling price was $22,313, up $304 (1.3%) from the previous month.
- One year ago, the average selling price was $19,196.
- Auction volume was down 9.8% from the previous month.
- The average model year was 2015.
According to the RVIA, the total number of RVs shipped in October hit 57,971, the highest amount ever for any month, and an increase of 22.5% over October 2020. Towables totaled 52,856 units and motorhomes accounted for 5,115. Truck Campers came in at 466, Folding Camping Trailers reached 733, and Park Models were 354. Class B motorhomes (Van Campers) ended the month with 1,320 shipped, Class As totaled 1,443, and Class Cs finished up with 2,352.
- The RVIA has released updated projections that total RV shipments for 2021 will reach 602,000 units (a 40% increase over 2020). 2022 is also projected to see shipments in excess of 600,000, with an expected range of 599,760 to 627,700.
Have a thought on when the used market might dip? Let us know in the comments below.