RV News – Are Used RVs Taking Over? – April 2025
John Marucci
[{'start': '0.320', 'end': '5.120', 'text': "This month's RV newscast will cover the"}, {'start': '2.159', 'end': '7.680', 'text': 'latest RV and travel data news. March'}, {'start': '5.120', 'end': '9.519', 'text': '2025 RV production numbers are out, and'}, {'start': '7.680', 'end': '11.519', 'text': "we'll cover the latest travel data so"}, {'start': '9.519', 'end': '14.400', 'text': "you can better gauge if it's time to"}, {'start': '11.519', 'end': '16.240', 'text': 'buy, sell, or hold an RV. Later in the'}, {'start': '14.400', 'end': '18.720', 'text': "news, we'll discuss the latest results"}, {'start': '16.240', 'end': '20.960', 'text': "from the country's largest dealer and my"}, {'start': '18.720', 'end': '23.439', 'text': "thoughts on why I'm cold on buying a new"}, {'start': '20.960', 'end': '27.119', 'text': "RV. I'm John Maruchi. Let's get started"}, {'start': '23.439', 'end': '29.840', 'text': 'with the news. On April 24th, 2025, the'}, {'start': '27.119', 'end': '32.360', 'text': 'RVIA posted the latest RV wholesale'}, {'start': '29.840', 'end': '34.960', 'text': 'shipment data for March'}, {'start': '32.360', 'end': '38.120', 'text': '2025. Production increased compared to'}, {'start': '34.960', 'end': '43.280', 'text': 'the prior year with'}, {'start': '38.120', 'end': '46.559', 'text': '37,348 total RV shipped in March, up 515'}, {'start': '43.280', 'end': '51.280', 'text': 'or 15.8% year-over-year.'}, {'start': '46.559', 'end': '53.920', 'text': 'March 2025 beat 2023 and 2024 March'}, {'start': '51.280', 'end': '56.120', 'text': 'shipments, but was below all other'}, {'start': '53.920', 'end': '58.760', 'text': 'recent years, including'}, {'start': '56.120', 'end': '61.079', 'text': '2016. Travel trailer shipments increased'}, {'start': '58.760', 'end': '64.559', 'text': 'year-over-year with'}, {'start': '61.079', 'end': '66.119', 'text': '26,482 units shipped in March 2025'}, {'start': '64.559', 'end': '69.400', 'text': 'versus'}, {'start': '66.119', 'end': '72.720', 'text': '22,835 a year ago, up'}, {'start': '69.400', 'end': '74.560', 'text': '3647 or 16%.'}, {'start': '72.720', 'end': '78.960', 'text': 'Motor home shipments, which include'}, {'start': '74.560', 'end': '83.759', 'text': 'class A, B, and C motor homes, beat 2024'}, {'start': '78.960', 'end': '86.439', 'text': 'March numbers with 3,366 unit ship up'}, {'start': '83.759', 'end': '88.560', 'text': '141 units or 4.4%'}, {'start': '86.439', 'end': '90.640', 'text': 'year-over-year. This is the first time'}, {'start': '88.560', 'end': '93.600', 'text': 'in over a year that motor home shipments'}, {'start': '90.640', 'end': '95.680', 'text': 'have beaten a prior year. To add some'}, {'start': '93.600', 'end': '98.479', 'text': 'perspective, past March shipments'}, {'start': '95.680', 'end': '101.520', 'text': 'averaged around 4,900 for previous'}, {'start': '98.479', 'end': '103.520', 'text': 'years, not including 2020. So, the'}, {'start': '101.520', 'end': '106.360', 'text': 'segment is still lagging behind the'}, {'start': '103.520', 'end': '110.159', 'text': 'historical average by about'}, {'start': '106.360', 'end': '114.439', 'text': '1/3. RVs for sale on RVtrader.com have'}, {'start': '110.159', 'end': '118.000', 'text': 'decreased slightly since last month with'}, {'start': '114.439', 'end': '123.079', 'text': '139,525 new RVs for sale as of April'}, {'start': '118.000', 'end': '127.680', 'text': '30th, 2025. This is down from'}, {'start': '123.079', 'end': '131.440', 'text': '140,735 or 1,210 units or.9% from a'}, {'start': '127.680', 'end': '131.440', 'text': 'month ago and up'}, {'start': '131.640', 'end': '138.879', 'text': '17,974 or 14.8% from a year ago. Used'}, {'start': '136.480', 'end': '141.640', 'text': 'units have increased sharply in the past'}, {'start': '138.879', 'end': '145.280', 'text': 'month with'}, {'start': '141.640', 'end': '149.959', 'text': '71,543 used RVs for sale as of April'}, {'start': '145.280', 'end': '153.519', 'text': '30th. This is up by 3,813 units or'}, {'start': '149.959', 'end': '155.959', 'text': '5.6% versus about a month ago and up by'}, {'start': '153.519', 'end': '158.519', 'text': 'a whopping'}, {'start': '155.959', 'end': '161.959', 'text': '14,542 or up'}, {'start': '158.519', 'end': '164.000', 'text': '25.5% compared to a year ago.'}, {'start': '161.959', 'end': '166.280', 'text': 'Interestingly, when we compare the end'}, {'start': '164.000', 'end': '169.280', 'text': 'of March to the end of April,'}, {'start': '166.280', 'end': '170.519', 'text': 'year-over-year, used units for sale were'}, {'start': '169.280', 'end': '174.599', 'text': 'down by'}, {'start': '170.519', 'end': '179.560', 'text': '588 in this period last year versus the'}, {'start': '174.599', 'end': '182.560', 'text': '3813 increase this year. This is a 441'}, {'start': '179.560', 'end': '184.959', 'text': 'swing. It seems evident that there is an'}, {'start': '182.560', 'end': '188.400', 'text': 'increase in the unloading of used units'}, {'start': '184.959', 'end': '191.040', 'text': 'this early spring season. I believe we'}, {'start': '188.400', 'end': '195.000', 'text': 'are continuing to see the results of'}, {'start': '191.040', 'end': '198.560', 'text': 'mass inoculation of RVing by pandemic'}, {'start': '195.000', 'end': '201.360', 'text': 'buyers. Our model year chart shows new'}, {'start': '198.560', 'end': '202.680', 'text': 'model volumes for 2020 through 2025'}, {'start': '201.360', 'end': '206.159', 'text': 'since May of'}, {'start': '202.680', 'end': '209.280', 'text': '2023. As dealers unload the older units,'}, {'start': '206.159', 'end': '212.040', 'text': '2022 models, as indicated by the blue'}, {'start': '209.280', 'end': '217.200', 'text': 'line, have decreased from'}, {'start': '212.040', 'end': '220.560', 'text': '39,100 to 846 units, down by 138 since'}, {'start': '217.200', 'end': '223.519', 'text': 'last month. The orange line shows 2023'}, {'start': '220.560', 'end': '223.519', 'text': 'models going from'}, {'start': '223.640', 'end': '231.200', 'text': '93,797 to'}, {'start': '225.879', 'end': '234.000', 'text': '2581 since late June 2023, down by 623'}, {'start': '231.200', 'end': '238.000', 'text': 'since last month. Meanwhile, the red'}, {'start': '234.000', 'end': '240.920', 'text': 'line shows 2024 models going from 8238'}, {'start': '238.000', 'end': '244.120', 'text': 'in late June 2023, ramping up last'}, {'start': '240.920', 'end': '247.480', 'text': 'spring and now at'}, {'start': '244.120', 'end': '250.560', 'text': '19,49 down about 5600 units since last'}, {'start': '247.480', 'end': '252.840', 'text': 'month. It seems evident that the huge'}, {'start': '250.560', 'end': '256.239', 'text': 'clearance of 2024 units is still'}, {'start': '252.840', 'end': '258.479', 'text': 'underway as 2026 models are set to hit'}, {'start': '256.239', 'end': '261.840', 'text': 'dealer lots shortly.'}, {'start': '258.479', 'end': '264.960', 'text': '2025 units, as shown by the teal line,'}, {'start': '261.840', 'end': '267.560', 'text': 'have ramped up and are now leveling off.'}, {'start': '264.960', 'end': '271.520', 'text': 'There are currently'}, {'start': '267.560', 'end': '272.600', 'text': '113,733 2025 units for sale, increasing'}, {'start': '271.520', 'end': '276.000', 'text': 'by about'}, {'start': '272.600', 'end': '278.160', 'text': '3,300 in the past month.'}, {'start': '276.000', 'end': '281.120', 'text': 'Looking at the model year data by the'}, {'start': '278.160', 'end': '283.840', 'text': 'number of weeks on market, we see that'}, {'start': '281.120', 'end': '287.919', 'text': '2025s, the teal line, is ramping up much'}, {'start': '283.840', 'end': '287.919', 'text': 'more quickly than 2024'}, {'start': '297.479', 'end': '302.720', 'text': 'issu looks like a historically low'}, {'start': '299.919', 'end': '305.280', 'text': 'production run that ended last summer.'}, {'start': '302.720', 'end': '308.080', 'text': 'It sure appears the industry is betting'}, {'start': '305.280', 'end': '311.280', 'text': 'that 2025 models will sell more swiftly'}, {'start': '308.080', 'end': '313.000', 'text': 'than 2024s. Yet, my commentary below'}, {'start': '311.280', 'end': '316.000', 'text': 'questions this'}, {'start': '313.000', 'end': '318.639', 'text': 'assumption. We have also welcomed 2026'}, {'start': '316.000', 'end': '322.080', 'text': 'models into the chart data. And at week'}, {'start': '318.639', 'end': '326.160', 'text': '9 on market, 2026 models are mirroring'}, {'start': '322.080', 'end': '328.880', 'text': '2025 so far. As a reminder, many but not'}, {'start': '326.160', 'end': '331.520', 'text': 'all dealers advertise on rvtrader.com to'}, {'start': '328.880', 'end': '334.400', 'text': 'sell inventory. It remains an excellent'}, {'start': '331.520', 'end': '336.240', 'text': 'proxy for overall dealer inventory. You'}, {'start': '334.400', 'end': '338.400', 'text': 'can follow my account on X at John'}, {'start': '336.240', 'end': '341.919', 'text': 'Maruchi to receive weekly updates on'}, {'start': '338.400', 'end': '343.440', 'text': 'this data. For the high-end market,'}, {'start': '341.919', 'end': '345.199', 'text': 'inventory levels for Colonial'}, {'start': '343.440', 'end': '347.199', 'text': 'Airststream in Milstone Township, New'}, {'start': '345.199', 'end': '350.400', 'text': "Jersey, the nation's second largest"}, {'start': '347.199', 'end': '353.440', 'text': 'Airstream dealer still show a glut of'}, {'start': '350.400', 'end': '356.720', 'text': 'instock units. As of April 30th,'}, {'start': '353.440', 'end': '359.520', 'text': 'Colonial had 116 new units on the lot'}, {'start': '356.720', 'end': '362.560', 'text': 'for sale with seven spoken for. This is'}, {'start': '359.520', 'end': '365.360', 'text': 'down from 128 and 11 spoken for about a'}, {'start': '362.560', 'end': '367.199', 'text': 'month ago. Interestingly, Colonial'}, {'start': '365.360', 'end': '369.840', 'text': 'continued to decrease its order book'}, {'start': '367.199', 'end': '373.600', 'text': 'over the past month, which now stands at'}, {'start': '369.840', 'end': '377.199', 'text': 'only 11 units versus 40 in late January'}, {'start': '373.600', 'end': '380.479', 'text': 'and 47 in late November. A year ago,'}, {'start': '377.199', 'end': '382.319', 'text': 'Colonial had 48 units on order. This'}, {'start': '380.479', 'end': '384.800', 'text': 'indicates that Colonial has put the'}, {'start': '382.319', 'end': '388.720', 'text': 'brakes on new orders as their lot is'}, {'start': '384.800', 'end': '392.280', 'text': 'full of 2025 models. 2026 model should'}, {'start': '388.720', 'end': '395.360', 'text': 'be arriving shortly. So, with nearly 120'}, {'start': '392.280', 'end': '398.800', 'text': 'high-end 2025 model Airstreams on their'}, {'start': '395.360', 'end': '402.120', 'text': 'lot, they seem to be signaling a problem'}, {'start': '398.800', 'end': '404.639', 'text': 'with unloading these existing'}, {'start': '402.120', 'end': '407.280', 'text': 'units. The Bureau of Labor Statistics'}, {'start': '404.639', 'end': '409.039', 'text': 'published February 2025 manufacturing'}, {'start': '407.280', 'end': '411.600', 'text': 'employment numbers for Elkcart County,'}, {'start': '409.039', 'end': '413.800', 'text': 'Indiana. The current manufacturing'}, {'start': '411.600', 'end': '417.880', 'text': 'employment level was'}, {'start': '413.800', 'end': '420.840', 'text': '60,300, just above March 2015, but'}, {'start': '417.880', 'end': '423.599', 'text': 'significantly below 2016 and later'}, {'start': '420.840', 'end': '425.280', 'text': 'years. The BLS is forecasting'}, {'start': '423.599', 'end': '427.160', 'text': 'manufacturing employment to increase'}, {'start': '425.280', 'end': '429.840', 'text': 'slightly in March of'}, {'start': '427.160', 'end': '432.160', 'text': '2025. Gas prices have increased slightly'}, {'start': '429.840', 'end': '434.319', 'text': 'in the past month. According to AAA, the'}, {'start': '432.160', 'end': '437.759', 'text': 'current average nationwide price as of'}, {'start': '434.319', 'end': '440.880', 'text': 'April 30th was $3.18.2 2 cents per'}, {'start': '437.759', 'end': '444.160', 'text': 'gallon for regular unled, up 2.4 cents'}, {'start': '440.880', 'end': '448.160', 'text': 'from a month ago, and down about 48 from'}, {'start': '444.160', 'end': '452.520', 'text': 'a year ago. An RV trip of 3,000 mi at 10'}, {'start': '448.160', 'end': '457.120', 'text': 'm per gallon would cost $955 now versus'}, {'start': '452.520', 'end': '459.039', 'text': '$1,97 a year ago, a 13% decrease. Diesel'}, {'start': '457.120', 'end': '461.160', 'text': 'prices have decreased in the past month'}, {'start': '459.039', 'end': '465.039', 'text': 'and currently sit at'}, {'start': '461.160', 'end': '469.599', 'text': '$355.9 per gallon, down 4.9 from a month'}, {'start': '465.039', 'end': '472.160', 'text': 'ago and down 44.8 from a year ago. A'}, {'start': '469.599', 'end': '476.800', 'text': 'similar 3,000mi trip getting 12 m per'}, {'start': '472.160', 'end': '481.039', 'text': 'gallon would cost $890 now versus $1,02'}, {'start': '476.800', 'end': '482.800', 'text': 'a year ago, an 11.2% decrease. On April'}, {'start': '481.039', 'end': '485.120', 'text': '30th, Camping World reported first'}, {'start': '482.800', 'end': '487.759', 'text': 'quarter results with a mix of good and'}, {'start': '485.120', 'end': '490.560', 'text': 'bad news. The good news is that overall'}, {'start': '487.759', 'end': '493.120', 'text': 'revenue increased by 3.6% versus last'}, {'start': '490.560', 'end': '494.360', 'text': "year's quarter, and used vehicle revenue"}, {'start': '493.120', 'end': '497.120', 'text': 'increased by'}, {'start': '494.360', 'end': '498.720', 'text': "25%. The company's net loss was cut in"}, {'start': '497.120', 'end': '501.160', 'text': "half compared to the previous year's"}, {'start': '498.720', 'end': '504.599', 'text': 'quarter. And this is where the good news'}, {'start': '501.160', 'end': '507.440', 'text': 'ends. New vehicle revenue decreased by'}, {'start': '504.599', 'end': '510.400', 'text': '5.3% with the total number of new units'}, {'start': '507.440', 'end': '513.560', 'text': 'sold down by about 1%.'}, {'start': '510.400', 'end': '517.080', 'text': 'Camping World sold'}, {'start': '513.560', 'end': '521.760', 'text': '16,726 new units and'}, {'start': '517.080', 'end': '523.760', 'text': '13,939 used units from 209 stores. And'}, {'start': '521.760', 'end': '525.560', 'text': 'to accomplish these sales levels, the'}, {'start': '523.760', 'end': '528.080', 'text': 'company increased its selling'}, {'start': '525.560', 'end': '530.640', 'text': 'compensation and marketing expense by'}, {'start': '528.080', 'end': '532.959', 'text': 'nearly $19 million.'}, {'start': '530.640', 'end': '536.800', 'text': 'So used sales have become a large part'}, {'start': '532.959', 'end': '540.320', 'text': 'of the business at 45.5% of sales and'}, {'start': '536.800', 'end': '542.959', 'text': 'new unit sales at 54.5% of sales have'}, {'start': '540.320', 'end': '545.440', 'text': 'had trouble and needed significant'}, {'start': '542.959', 'end': '548.480', 'text': 'increases in sales incentives.'}, {'start': '545.440', 'end': '551.120', 'text': 'Essentially they have wagered on used'}, {'start': '548.480', 'end': '554.080', 'text': 'units as the hot commodity this season'}, {'start': '551.120', 'end': '556.320', 'text': 'and that wager has somewhat paid off.'}, {'start': '554.080', 'end': '560.880', 'text': 'High-end dealers like Colonial Airstream'}, {'start': '556.320', 'end': '563.959', 'text': 'have 116 or 77.4% 4% of their stock in'}, {'start': '560.880', 'end': '567.519', 'text': 'new units and only 34'}, {'start': '563.959', 'end': '571.000', 'text': '22.6% of their stock in used units. A'}, {'start': '567.519', 'end': '573.760', 'text': 'much more new unit wager versus Camping'}, {'start': '571.000', 'end': '575.519', 'text': 'World. I recently completed a longer'}, {'start': '573.760', 'end': '578.160', 'text': 'trip with my trailer and over the'}, {'start': '575.519', 'end': '580.800', 'text': 'several days of being on the road, we'}, {'start': '578.160', 'end': '583.440', 'text': 'passed many RV dealers situated next to'}, {'start': '580.800', 'end': '585.839', 'text': 'the highways. I understand my opinion'}, {'start': '583.440', 'end': '588.480', 'text': 'here is impressionbased, but almost'}, {'start': '585.839', 'end': '591.040', 'text': 'every RV dealer lot looked full.'}, {'start': '588.480', 'end': '592.279', 'text': 'sometimes very full with little to no'}, {'start': '591.040', 'end': '595.040', 'text': 'room for new'}, {'start': '592.279', 'end': '598.080', 'text': 'units. Something goes tilt when I think'}, {'start': '595.040', 'end': '600.240', 'text': 'about this and try to reconcile it to'}, {'start': '598.080', 'end': '602.800', 'text': 'the uptick in RV shipments we spoke'}, {'start': '600.240', 'end': '605.279', 'text': 'about earlier. If you have been tracking'}, {'start': '602.800', 'end': '608.880', 'text': "with our newscast lately, you know, I've"}, {'start': '605.279', 'end': '610.839', 'text': 'been skeptical about the 2025 model run'}, {'start': '608.880', 'end': '613.120', 'text': 'that the industry was again'}, {'start': '610.839', 'end': '615.600', 'text': 'overproducing. I still believe this and'}, {'start': '613.120', 'end': '618.640', 'text': 'I wonder why any dealers are ordering'}, {'start': '615.600', 'end': '620.880', 'text': 'more RVs just now. Looking at Colonial'}, {'start': '618.640', 'end': '623.399', 'text': 'Airststream, which we discussed earlier,'}, {'start': '620.880', 'end': '625.680', 'text': 'they appear to have put the brakes on'}, {'start': '623.399', 'end': '628.440', 'text': "ordering. There is an issue we haven't"}, {'start': '625.680', 'end': '631.279', 'text': 'discussed in a while. Nothing'}, {'start': '628.440', 'end': '633.240', 'text': 'significant has changed on the RV'}, {'start': '631.279', 'end': '636.640', 'text': 'manufacturing side since before the'}, {'start': '633.240', 'end': '639.360', 'text': 'pandemic. Buyers still have little or no'}, {'start': '636.640', 'end': '642.160', 'text': 'recourse for bad quality. Warranty'}, {'start': '639.360', 'end': '644.839', 'text': "claims are at the manufacturer's mercy."}, {'start': '642.160', 'end': '647.360', 'text': 'State RV lemon laws are little to'}, {'start': '644.839', 'end': '650.240', 'text': 'non-existent. and workers are still'}, {'start': '647.360', 'end': '651.640', 'text': 'generally paid peace work. So speed is'}, {'start': '650.240', 'end': '654.480', 'text': 'valued over'}, {'start': '651.640', 'end': '656.480', 'text': 'quality. Often warranty work sidelines'}, {'start': '654.480', 'end': '659.320', 'text': 'your new RV for long periods while you'}, {'start': '656.480', 'end': '661.760', 'text': 'wait for authorization or service'}, {'start': '659.320', 'end': '664.320', 'text': 'appointments. I admit that to some'}, {'start': '661.760', 'end': '667.680', 'text': "extent I've been inoculated from buying"}, {'start': '664.320', 'end': '670.640', 'text': 'new again for these reasons besides'}, {'start': '667.680', 'end': '673.360', 'text': 'exorbitant prices. Of course, buying'}, {'start': '670.640', 'end': '676.200', 'text': 'used RVs has its downsides as sellers'}, {'start': '673.360', 'end': '678.480', 'text': 'can try to hide real issues. Yet,'}, {'start': '676.200', 'end': '681.120', 'text': 'generally, I would recommend a quality'}, {'start': '678.480', 'end': '683.760', 'text': 'used unit from a private party over a'}, {'start': '681.120', 'end': '686.959', 'text': 'new unit if a buyer has the unit'}, {'start': '683.760', 'end': '687.880', 'text': 'inspected by an independent third-party'}, {'start': '686.959', 'end': '691.040', 'text': 'RV'}, {'start': '687.880', 'end': '694.079', 'text': 'inspector. So, buy, sell, or hold. Right'}, {'start': '691.040', 'end': '697.120', 'text': 'now, hold is my recommendation. maintain'}, {'start': '694.079', 'end': '699.399', 'text': 'the unit well with the caveat of buying'}, {'start': '697.120', 'end': '701.680', 'text': 'quality used if you have to replace your'}, {'start': '699.399', 'end': '704.000', 'text': "unit. If you're looking for your first"}, {'start': '701.680', 'end': '707.200', 'text': "RV, there is no reason you can't try a"}, {'start': '704.000', 'end': '709.360', 'text': 'used RV first. You may be able to snag a'}, {'start': '707.200', 'end': '711.600', 'text': 'unit from someone like me who has gone'}, {'start': '709.360', 'end': '714.000', 'text': 'through the warranty period and has'}, {'start': '711.600', 'end': '716.320', 'text': 'maintain the rig well even though it was'}, {'start': '714.000', 'end': '719.040', 'text': 'used extensively.'}, {'start': '716.320', 'end': '721.519', 'text': 'Even if you want new at some point, a'}, {'start': '719.040', 'end': '724.519', 'text': 'quality used unit may help ease you into'}, {'start': '721.519', 'end': '726.800', 'text': 'the lifestyle with less cost and fewer'}, {'start': '724.519', 'end': '728.639', 'text': "issues. Okay, that'll do it for this"}, {'start': '726.800', 'end': '730.880', 'text': 'newscast. Please click the like button.'}, {'start': '728.639', 'end': '733.040', 'text': 'Remember to subscribe and hit the bell'}, {'start': '730.880', 'end': '734.720', 'text': "icon if you haven't already. Thanks for"}, {'start': '733.040', 'end': '738.120', 'text': 'watching. This is John Maruchcci and so'}, {'start': '734.720', 'end': '738.120', 'text': 'long for now.'}]