The summer of 2020 will be remembered as a crazy one for many reasons, but we’re fortunate to have the valuable data provided by Eric Lawrence at Black Book to help keep us grounded.
“RV dealers are still reporting brisk sales of both new and used units,“ according to Lawrence, principal analyst – specialty markets for Black Book. “Their biggest complaint remains a lack of inventory, due to a drop-off in trade-ins from the increased number of first-time buyers, a lower supply of units at auctions, and the delayed delivery of previously ordered new units. These factors have combined to push the prices of RVs sold at wholesale auctions to all-time highs.”
Taking a closer look at the markets, we see that the average selling price for motorized units was $51,574, which is up $4,354 (9.2 percent) from the previous month. Towables came in at $18,331, up $825 (4.7 percent) from last month. One year ago the average motor home sold for $49,667 and the average towable unit brought $14,840.
Auction volume was mixed: motor homes declined 8.9% while towables were unchanged.
The average age of motorized units was seven years old (2013), and towables were the same (2013).
Written for RVPro, July 21, 2020