RV makers roll toward a V-shaped recovery amid COVID By Reuters

Japan eyeing second extra budget worth over $929 billion: Nikkei



By Timothy Aeppel

(Reuters) – At least one American industry is rolling toward a V-shaped recovery.

Wholesale shipments of recreational vehicles – which have surged in popularity as Americans sought to travel without the need to touch hotel or restaurant doorknobs – are projected to set a record next year, according to an analysis seen by Reuters prepared for the RV Industry Association. The report is being released today.

The new analysis estimates shipments could hit 507,200 units. Such an achievement would represent a nearly 20% rise over the report’s new estimate for 2020 and exceed the previous peak of 504,600 units shipped in 2017.

The trade group’s president, Craig Kirby (NYSE:), said in a release that people see RVs “as a way to have the freedom to travel and experience an outdoor lifestyle while also controlling their environment.”

Other outdoor-oriented industries have seen a similar trend. Sales of swimming pools, boats, and all-terrain vehicles have all surged since lockdowns were lifted earlier this year.

The RV industry, centered around Elkhart, Indiana, was largely shut down for two months early in the coronavirus pandemic. But then business roared back. The report’s projection for 2020 is shipments of 424,400 units. That would represent a 4.5% increase over 2019. Some manufacturers are reporting shortages of parts and other supply chain constraints amid the upswing in manufacturing.

The report was prepared for the trade group by an outside consultant, ITR Economics.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME