Recreation vehicle retail sales dip 19%, sentiment lacks spark
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According to Baird report, recreational vehicle retail sales declined 19% in August
Year-to-date, retail is tracking down in the low-20s percent range, in line with our industry forecast.
Bifurcating: Towables retail declined 19% in August; YTD towable retail is tracking down low-20s percent. Towables includes travel trailers, fifth wheels, camping trailers, and park models; Motorhomes retail fell 10% in August, YTD is tracking down roughly 10%.
September dealer survey shows continued retail declines and similar sentiment to August checks: Towable inventory remains higher than dealers would like and 74% of dealers considered towable inventory “too high.” Motorhome inventory appears balanced as equal amounts of dealers reported inventory was “too low,” “about right.”
Sentiment in September ticked slightly higher from August, with current conditions rated at 52 (vs. 51 in August) and the 3-5 year outlook at 59 (vs. 52 in August).
With the offseason nearing, sentiment has held at neutral levels.
Sector watch: Camping World (CWH), Thor Industries (THO), LCI Industries (LCII) and Winnebago (WGO), Patrick Industries (PATK)
