Want an RV? Prices Are 40% More Than a Year Ago!
According to J.D. Power and Associates, RV prices skyrocketed in the third quarter of 2021. The uptick comes after a year of already-strong price increases across the market.
With digital nomads living full-time #vanlife in ever-increasing numbers and parts shortages plaguing the world economy, it might be no surprise that RV prices are higher than ever.
The surprising part is how much higher they are.
J.D. Power and Associates recently published a 2021 third-quarter report, showing increases of nearly 40% in some RV segments compared to the same time last year. (The report includes data for the last 10 model years for each segment.)
The auto data analytics giant measured a 39.1% increase in travel trailer prices from September to October 2020. Over the same period, fifth-wheel values increased by 30.5%. And values for smaller camping trailers and truck campers jumped by 39%.
Motorhome values increased across the board as well — Class A RVs are 17.2% more expensive now than they were a year ago. Class C vehicles cost 28.7% more.
In context, that’s a lot of cash. The average price for a Class A motorhome in September 2020 was $180,000. This year, it’s more like $210,000.
Buying used won’t necessarily help, either.
J.D. Power and Associates identified ongoing parts shortages among the culprits for the inflated prices. As long as the first law of economics exists, prices will likely stay high as long as parts supply remains low.
For the full report, which includes comparative charts and more market analysis, click here.
