Ever since the pandemic hit in 2020, the RV market has been on fire. If you’re looking to purchase an RV, you’ve likely experienced supply shortages.
However, that’s just the tip of the iceberg. We hate to be the bearer of bad news, but you should prepare to pay a premium for 2022 models. Let’s take a deeper look at how much of a hit you can expect while you’re out shopping.
Are RV Prices for 2022 Models Going Up?
Manufacturers are increasing prices for dealers, which makes dealers less likely to cut buyers a deal. Before the camper buying frenzy started, purchasers could expect to take anywhere from 20 to 30% off the MSRP. However, this is becoming increasingly rare as demand increases and supply continues to shrink. This naturally causes the prices for new RVs to increase.
If you’re in the market for a 2022 RV, you shouldn’t expect to get a deal. As long as the demand exceeds the supply, the price will keep going up.
How Much Have 2022 RV Prices Increased?
If you delayed purchasing that brand new Airstream in hopes that prices would come down, they haven’t. When the 2021 Airstream Flying Clouds hit the market, it started at $78,900. Sadly, the 2022 Airstream Flying Clouds starts at $85,300. This is just over an 8% increase from the previous year.
Airstream isn’t alone in raising prices for new models. Grand Design is raising prices by 6.5% to 8%. Winnebago is raising prices by 7%. With the RV Industry Association predicting continued growth, this likely isn’t the last increase we’ll see.
Why Are RV Prices So High Right Now?
The RV market has seen unprecedented growth since 2020 when travel restrictions kept everyone close to home. What we’ve seen in the RV industry is a perfect storm for increased prices. Let’s take a look at some of the factors.
Lack of Inventory
When RVs were in less demand, you could walk onto a dealership lot and check out multiple RV types and floor plans. That just isn’t the case in recent times, as many dealerships face a lack of inventory. While RVs roll off the lots, there are very few moving in to replace them.
You could face hurdles if you’re looking for a specific floor plan for a model. You may have to drive across the state, or even the country, to check it out. Whenever there’s a lack of inventory for any product, price increases quickly follow.
Supply Chain Issues
There are some factors that dealerships and manufacturers can’t control. Global supply chains have gotten disrupted. This has made manufacturing and assembling RVs difficult. Manufacturers have had to change aspects like the color of siding, models of TV, and even air conditioners to keep production rolling as much as possible.
If it seems like everyone you know is buying an RV, it’s because they are. The RV industry had a massive year of sales in 2020, and predictions for 2021 are 14.4% higher than 2020. Much of the growth for 2020 was a direct result of travel restrictions, which forced much of the country to delay or cancel vacations.
New RVs on Backlog
When you combine the supply chain issues and high demand, it’s only a matter of time before there’s a massive backlog on new RVs. Many first-time RVers are looking for the security and assurance that warranties can provide. However, you’ll need to exercise patience if you want a new model.
Shopping for the perfect RV can take weeks or even months. You may discover that you’ll not only need to put down a large deposit but also wait months. Your dream of sitting around a campfire could be a long way off.
Seller’s Market for Used RVs
New RVs aren’t the only RVs in demand. There’s a massive market for used RVs. This phenomenon is something the RV market has never seen. There are even reports of customers buying a new RV, using it for a few months, and turning it around to sell it for more than they initially paid. As we’ve said, the RV market is incredibly unpredictable right now.
The coronavirus has directly affected 2022 RV prices by causing delays in production and shipments. These delays on essential parts and other necessary items keep RVs from leaving the lot.
Aside from production, coronavirus has also affected RV prices by keeping demand high. Travel restrictions continue to leave some wary of traveling. RVs allow families and individuals to get out but still distance themselves as much as possible.
How Will Rising 2022 Truck Prices Affect the RV Market?
Much like the RV market, new and used trucks are both in high demand. Like RV dealerships, car dealers that typically have many trucks on hand are finding their lots emptier than usual. Truck prices are trending upward. Eventually, however, both the RV and truck markets will have to slow. When is anyone’s guess.
Should You Buy an RV in 2022?
Buying an RV is an exciting adventure and can provide a tremendous amount of exciting memories. With prices continuing to rise, it may be wise to wait if you can. Some buyers purchase RVs and then use them far less than they originally anticipated. With so many new RV purchases in recent years, you may be able to find a good deal on a slightly used vehicle. Do you plan to buy an RV in 2022?
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