The Recreation Vehicle Industry Association’s (RVIA) latest RV Consumer Demographic Profile, scheduled to be released to the industry this fall, shows RV ownership has reached a new peak while also offering promising news on future RV purchase intentions.
The research, conducted by Richard Curtin, RV industry analyst and director of consumer surveys at the University of Michigan, reveals the number of RV-owning households has grown to a new peak of 8.9 million households, up from 7.9 million in 2005. Nearly one-in-nine (8.5%) U.S. households now own RVs, up from 8.0% in 2005, according to an RVIA news release.
“Today’s record RV ownership levels reflect the enduring appeal of the RV lifestyle despite recent economic challenges,” said RVIA President Richard Coon.
In addition to showing that RV ownership rates have climbed steadily, the new RV Consumer Demographic Profile also offers promising news on future RV purchase intentions.
When RV purchase intentions are combined across current owners, former owners and new market entrants, a total of 21% of all U.S. households stated intentions to purchase an RV in the 2011 survey. This is on par with the 23% rate in 2005 and ahead of the 16% rate in 2001.
“These purchase intentions expressed in the new RV Consumer Demographic Profile are very encouraging for the industry,” added Coon. “The survey results gathered this year in a challenging financial environment track closely with the 2005 data when the economy and consumer outlook was much brighter. Overall, the results clearly indicate continued strong demand for RVs in the years ahead.”
Seventy percent of current RV owners plan to purchase another RV to replace their current unit. When compared to the purchase intentions of current owners in prior surveys, the 2011 data indicates a strong increase in new vehicle purchase intentions.
Among new market entrants, defined as households that have never owned an RV in the past, 14% planned on purchasing an RV in the future with more than a third of them intending to purchase a new RV.
Of all former owners, 27% plan to purchase another RV in the future. Here age was a determining factor with younger former owners (age 18-34) more likely than older former owners to purchase another RV. This underscores the need for the RV industry to stay in touch with recent former owners and to continue to present them ownership options.
A new survey of RV owners indicates that they have strong travel plans this fall/winter and expect to save significantly, despite the soft U.S. economy and fluctuating fuel prices.
According to the Recreation Vehicle Industry Association’s biannual Campfire Canvass, 34 percent of RV owners plan to travel more this fall and winter than last year, 43 percent plan to travel the same amount and just 11 percent plan to travel less.
“My wife and I are planning a fall trip in our motorhome to Virginia and New Jersey to visit relatives,” says George Dougherty of Ankeny, Iowa and a former chief technology officer at Faith Baptist College. “Since 2006, when we bought our first RV, we’ve traveled over 22,000 miles. We’re having a great time seeing America and we enjoy the RV lifestyle. We just got back from a two-week trip that took us through six states, including South Dakota, Wyoming, Nebraska and Kansas. During the winter months, we’ll head south to get away from the snow in Iowa.”
Like the Doughertys, many families are buying RVs to see America. According to the survey, 71 percent ranked “seeing America” as the most important reason for buying an RV in the last two years.
Along with seeing America, another primary reason why millions of owners will be traveling and enjoying the RV lifestyle this fall/winter is because they appreciate the value that RV travel delivers. Nearly 90 percent said that RVing is an affordable way to travel.
Almost 65 percent of the respondents said that they save at least 25 percent when traveling in their RV compared to other types of travel, while 27 percent save 35-50 percent. This reflects a new study by PKF, an international travel and tourism consulting company, which found that RVing is 23-to-59 percent less expensive than other types of vacations for a family of four.
In addition to saving on rising hotel costs and airfares, RV owners also avoid the expense of eating in restaurants. The study found that 49 percent of RV owners said that they eat at least two meals a day onboard their RVs, while 44 percent said three meals.
Despite these uncertain economic times, 45 percent of RV owners said that they’re considering another RV purchase within the next two years, with 79 percent of those respondents citing the availability of “great deals” in today’s RV market. More than 60 percent will attend RV retail shows this fall and winter.
Owners surveyed will use their RVs in a variety of ways during the fall/winter travel season.
• 69 percent of the respondents said that they plan to sightsee
• 64 percent visit state parks and 55 percent national parks
• 46 percent attend festivals and fairs
• 39 percent take part in foliage tours
The survey also reveals that owners are physically active on their RV trips. For example, 41 percent said that they enjoy hiking, 38 percent fishing, 23 percent biking and 12 percent canoeing and kayaking.
Results also show that holiday travel remains popular with RV owners. Among the respondents, 42 percent said they plan to travel in their RVs over the Thanksgiving weekend and 21 percent over the Christmas/Hanukkah season.
The comfort, convenience and affordability of RV travel are attracting new RV owners every day according to the Recreation Vehicle Industry Association (RVIA). Over the past decade, RV ownership has increased from 7.6% of U.S. households in 2001 to 8.5% in 2011. According to new demographic data, 8.9 million Americans are RV owners, an increase of 1 million households since 2005.
Results of a new consumer survey conducted by Dr. Richard Curtin, a prominent economist and director of consumer surveys at the University of Michigan, show that RV ownership remains strong among people 55 and older. In that demographic, RV ownership grew from 8.6% in 2005 to 9.4% in 2011. More interesting is the impressive growth of RV ownership among younger consumers in the 35 to 54 age bracket. Today, middle-aged consumers comprise 11.2% of the RV market compared to 9% in 2005. Reflecting the struggling economy and high unemployment rate, RV ownership among people under age 34 dipped slightly from 5.0% in 2005 to 4.7% today.
Travel trailers continue to be the top choice of American RV buyers. Travel trailer ownership grew from 4.1% in 2005 to 4.8% in 2011.
We don't know if you saw it, but CNN had an interesting article on its website last week titled, "Is an RV right for you?"
The author of the article, George Bauer, works at CNN and is also the creator and host of "The Seasoned Traveler," which airs on U.S. public television stations and Travel Channel International. His background for writing the article was he had rented a class C RV for three vacations.
As the old adage goes, "Good publicity. Bad publicity. It's all publicity." Bauer was mostly fair in his assessment of the RVing industry as a whole, but he did get a little on the negative side when it comes to upkeep and getting around.
Bauer accurately detailed rising gasoline prices as being a major consideration when purchasing an RV, but he also said repairs, when needed, may take longer and cost much more than repairs on cars or trucks. As far as turnaround time on repairs, that really depends on the shop you work with. With regard to costs, like any car, the more expensive the vehicle, the more costly the repairs will generally be. You can't expect repairs on a Kia to be as expensive as those on a Cadillac. It's the nature of the beast.
He also talked about how the RV ride can be bumpy and uncomfortable, especially for those sitting at the dining table. We know he's referring to motorhomes and not truck campers, but it's worth mentioning that even motorhomes can ride uncomfortably. As far as campgrounds, he pointed out the variety across the nation with some 16,000 public and private campgrounds to choose from, but he also mentioned that in addition to some being very costly, during peak season, campsites can be crowded and noisy. While these campgrounds may have lots of campers, that's one of the best parts about camping — meeting all those campers around you and sharing stories about camping, about your family, and whatever else comes to mind. It's a unique experience that you can't find anywhere else such as a hotel.
Lastly, Bauer talkes about the challenges of backing into an RV campsite location. He compared it to putting a tractor-trailer in reverse. While again we know he's referring to motorhomes, we also know if someone ever has trouble at a campground, such as backing into a space, you can bet there will be more than a few campers around willing to offer their assistance. That's what campers do. That's what camping is all about.
To read the full article, click here.
Last week we talked about a great article written by RVbusiness.com and how we were very flattered to have such kinds words spoken about our dealership. Well, as they say, the hits keep rolling in. This last week we also had a great story in a local Austin-area publication (Community Impact) as well as a couple other articles related to our dealership. Instead of telling you what each article said, we'll just keep it short and sweet and provide you with all the links. Enjoy!
Community Impact Newspaper - Princess Craft - Almost Every One of Them Has a Story
RV Daily Report - Princess Craft Campers and Trailers seen around the world
Truck Camper Magazine - CAMPER SPOTLIGHT 107: 2011 Lance 1050S
RVbusiness.com - Princess Craft: Not Your Typical RV Dealership
It's not good news, but it's news nonetheless as gasoline prices continue to climb and have reached the highest levels since 2008, when they broke $4 per gallon in many U.S. cities, with little fanfare, the Chicago Tribune reported.
The national average retail price for regular-grade gasoline broke through the $3-a-gallon mark around New Year’s and climbed about 4.5%, to $3.14, by Valentine’s Day, according to data from the federal Energy Information Administration (EIA).
“Prices crept up like 20 cents in a few months, but it’s been a very quiet thing,” said Michael Lynch, president of energy consulting firm Strategic Energy & Economic Research. Quiet, but still in the forefront. After all, the numbers are posted on huge signs at most every busy intersection, Green said, and are widely available on the Internet.
“If they posted the price of bread or milk in big numbers, you might get upset when they rose too,” he said. Particularly because, like bread and milk, gas figures into most consumers’ everyday lives, with no alternatives, Green said.
“And there’s a visceral reaction when prices reach a milestone, like $3 a gallon and other round-number prices,” he said. “A lot of it is psychological.”
Still, for high-mileage drivers on a tight budget, gas price increases have a real impact.
“The more people have to pay for gasoline, the less they’re going to spend in other areas,” Green said. That has an effect not only at the household level but also for the U.S. economy, two-thirds of which depends on consumer spending, he said.
Prices are up 50 cents per gallon from a year ago, which translates into an extra $300 in annual gasoline costs if driving 15,000 miles in a vehicle that gets 25 mpg.
And they aren’t likely to go down anytime soon.
“We see prices continuing to increase through the spring and summer,” said EIA economist Neil Gamson. “We don’t see prices under $3 for the next two years.”
Though they aren’t likely to spike, either, not like 2008, when price jumps of 20 cents per month were common. The EIA sees only a 1-in-10 chance of gas returning to $4 a gallon this summer.
Lynch agrees. “I don’t think we’ll see $3.50 or $4 this year or next. And $5 is a little crazy.”
Still, conditions are ripe for higher prices: Demand for crude oil, the main component for gasoline, is rising in large, quickly developing countries such as China, India and Brazil, Gamson said. In China, for example, oil consumption has risen to 8.2 million barrels per day in 2009 from 1.7 million in 1980, according to data from the EIA and the CIA.
Even the U.S. appetite for oil is returning as the economy picks up, Gamson said.
Weather was cited for price spikes earlier in the winter, as low temperatures drove increased demand for home heating oil, another crude derivative, in the Northeast and Europe, he said.
Then there’s the annual shutdowns of U.S. refineries for maintenance, which temporarily reduces supply, and the switch from winter to summer gas formulations, which increase prices slightly because of additives to address emissions, said Troy Green, spokesman for AAA.
And Americans simply drive more in the spring and summer.
“People drive more when the weather is warmer and better,” Green said.
The Middle East, a major source of oil, is the wild card. Political unrest in Egypt played havoc with crude prices recently because of its location as a transit hub for global oil supply, home to the Suez Canal and a major Mediterranean oil pipeline.
Last week we announced our new and improved Facebook page that will include fun features including contests, photos, games, and other interesting things. This week we've got another exciting announcement. We published our first-ever monthly E-newsletter.
Our e-newsletter is designed to inform our customers about our dealership including information about our latest models, as well as RV tips, and a variety of other items related to Princess Craft and the RV industry.
Check out our newsletter online here.
If you're interested in receiving it on a monthly basis, send an email to princesscraftrv@gmail.com with "Subscribe" in the subject line.
In the 15 years I have been working with truck campers, I have never seen a camper do so well so fast! If you want to know about the Lance 850 for the longbed trucks, you can always look at the specs. The real story is in the upgrades from comparable models. The tanks are larger because of a "mini-basement" so you now have 30 gallons fresh, 20 grey and 18 black. That's nice. The refrigerator is a 5 cu ft double door model... The bathroom is a little larger... the sink is deep, large and round... and the 2010 Lance interior is really nice. Yep. I'm a girl, for those of you that don't know that, so I can say with authority that this camper gives the feeling of comfort and luxury. Did I mention the compartment for a portable generator? Still want to tow the toys without a big overhang on your camper? Want a nice bathroom? Want a family camper? Lots of people seem to think that this camper is the ticket.
At only 1320 dry weight, the new Ranger model is the same size as the Classic and has all the basic features. The sofa/dinette layout featured in the Ranger is the most popular since it has 2 sleeping areas, the largest being the 56" x 76" sofa bed. The A/C and furnace are options, as well as the off-road package that includes a 3,000 lb axle, electric brakes, breakaway switch and 14" tires. You can also add a fantastic roof vent or high wind kit, but that's it. The rest is standard on the Ranger... two stabilizer jacks, spare tire, carrier, 1 standard roof vent, 1 exterior baggage door, sink, 13" tires, one rear skylight, 1.9 cu. ft. refrigerator and a 2 burner stove. The best part is the price. We just received a Ranger with the a/c, furnace and off road package that has a dealer price of $11,927! Wow! If you want to move up into the Classic that we all know and love, you will gain 2 more stabilizer jacks, 1 more roof vent, 1 more baggage door, a 3.0 refrigerator, 2 floor plan options, an additional skylight, a microwave, a 60" x 76" bed (instead of a 56" x 76" bed), an outside shower and a few more available options like the ever-popular toilet and the DSI Water Heater. With most options added, you will be over $14,000. Since our new Aliners have only been here a few days, I have realized this comparison is important for the shoppers to understand. They are clearly two different models, with the Ranger being an excellent choice for those of us who want basics and a really good price. Still confused? Just call me and we can talk details!