Best time ever for RV business in US
The RV business has never had such good times in the US thanks not only to a strong economy and greater number of retirees with cash but also it would seem growing popularity with millenials. The average age of an owner has now dropped to 45, from 48 in 2015 - compare this to the average age in Europe which is ten years older.
In November 2017, Thor Industries, which makes Airstream and Jayco, reported its best quarter ever with USD2.2bn in sales. Thor (THO) shares are so far up 55% this year whilst Winnebago (WGO) has seen a 72% rise and Camping World(CWH) 43%.
The Recreational Vehicle Industry Association says that first time buyers make up one third of all new buyers. Van conversions are costing a similar amount to SUVs and offer on board water, toilet and sleeping accommodation.
Millenials make up 38% of active campers - of the 75m people in the US who camp from time to time.