RV sales are picking up. That’s a good sign for the economy

Channel 3000 News/CNN ^ | June 16, 2024 | CNN Staff

[Diana in Wisconsin]

At this time of year, a reservation with Chill RV Rentals isn’t usually the easiest to come by.

The Los Angeles-based company’s 16-camper fleet is typically booked solid, with the RVs oftentimes reserved weeks in advance.

That’s just not the case this year, said Nika Shneyder, who started the recreational vehicle rental business with her father in 2016. Bookings are light; plus, the people who are traveling are taking shorter trips, she said.

“We’re definitely seeing demand for RV travel slowed down compared to previous years, and I don’t think it has to do with people coming out [the pandemic] and going on different kinds of trips,” Shneyder said. “I actually think it has a lot to do with people having less discretionary spending available.”

She added: “I think we’re going to pick up this summer, in July and August for sure; but historically speaking, we would have been busier by now.”

On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism.

The industry appears to be not only getting back into gear but also settling into a familiar groove: its role as an economic bellwether.

When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research.

RVs are typically large-dollar items for individuals and families, costing about $12,000 to $15,000 for a small, pop-up, tow-behind trailer, to some that run well north of $250,000 or more for a motorhome or luxury offering.

[Zathras]

Agreed.
Strange headline which doesn’t seem to match reality.

[ro_dreaming]

It’s cause people can’t buy houses.