The RV market has been incredibly unpredictable over the last few years. Many dealerships have struggled to keep up with the record-setting demands. Meanwhile, many people want to get out and enjoy the great outdoors with their families.
The result has been skyrocketing prices for all types of RVs. However, some experts believe a shift in the market and a potential slowdown are looming. So are Rv discounts coming back this year?
Let’s take a look.
Who Is Josh the RV Nerd at Bish’s RV?
Thanks to social media, the RV community has many recognizable personalities in various capacities of RVing. Josh the RV Nerd is one of those unique and trusted personalities. He entered the RV world in 2009 when he began working for his family’s RV business, Haylett RV. He launched his Youtube channel in 2012 to provide “RV reviews, tips, insights, and news into the world of RVing and the industry in general.”
While Haylett RV joined Bish’s RV in 2021, Josh the RV Nerd continues to provide high-quality and unbiased insight into the RV industry. He’s racked up more than 183,000 subscribers, and his videos have nearly 80 million views. It doesn’t get much better if you’re looking for a trusted voice in the community than Josh the RV Nerd.
Are RV Discounts Coming Back in 2023?
Josh the RV Nerd shares that the invoices dealers were receiving from manufacturers didn’t change much. That’s despite material costs for manufacturers returning to nearly pre-COVID levels. Manufacturers could charge increased prices when dealerships had trouble filling their lots due to the increased demand. However, that’s no longer the case.
As a result, dealership lots are returning to healthy inventories. Additionally, manufacturers are starting to offer discount plans to keep business churning.
Many of these discounts go directly to the dealership, not the customer. However, Josh the RV Nerd says he’s starting to see some very rare factory rebates offered by manufacturers in some select cases. These rebates aren’t exclusive to certain dealers and must be offered by every dealership.
Josh hints that there could be a future industry price point reset since prices have gotten a bit out of control for certain types of RVs over the past few years.
Pro Tip: Before you buy an RV, make sure you know these 11 RV Buying Tips You MUST Know.
What Are MFG Discounts?
Manufacturers offer MFG discounts when they need to move inventory quickly. This is often because a product hasn’t performed as well as anticipated due to design or changes in demand.
The demand for RVs had been through the roof for several years, especially during 2020. The global supply chain shortages and delays in shipping made it nearly impossible for the manufacturers to keep up with the demand.
Manufacturers have begun to rebound as the demand for new RVs has slowed slightly, and they need to incentivize dealerships and customers to continue to purchase new units. These MFG discounts can mean thousands, potentially even $10,000 to $15,000 discounts on certain brand-new units.
Are Manufacturers Offering Direct to Customer Rebates?
Some manufacturers are beginning to offer direct-to-customer rebates on a limited basis. Josh the RV Nerd thinks some big RV groups will likely grab discounted inventory.
He believes they may even offer direct-to-customer rebates at reduced prices to move some of the inventory sitting on manufacturer lots. That’s especially as more 2023 models become available.
Are Prices of Motorhomes Coming Down or Going Up?
While sections of the RV markets are seeing some downward trends in pricing, motorhome pricing is not one of them. On average, new motorhomes are running 8% higher in pricing than previous models. Considering that the pricing has been increasing steadily over the last few years, another price increase is not something most consumers want to hear.
Many price increases are likely due to the global chip shortages many manufacturers have been experiencing over the last couple of years.
There simply aren’t enough chassis available to keep up with the demand for motorhomes. The law of supply and demand tells us that prices will only continue to increase if demand increases and supply decreases.
Are Used Towable RVs Going Down?
Customers can typically expect a slight price increase whenever a new model year for an RV or any vehicle comes out. It’s how things work as the newer models have newer features and a shiny new look and feel.
However, Josh the RV Nerd states that the average price to dealers for towable RVs has declined 5%.
Pro Tip: Dropping a lot of cash on an RV can be stressful! Before you buy, check out the Things You Wish You’d Known Before Buying an RV Camper.
Is Now a Good Time to Buy an RV?
There has been a huge demand for RVs in the last few years, so shoppers have been paying premium prices. However, with demand slowing, RV dealership lots are becoming fully stocked. Some dealerships that struggled to keep RVs on their lots for a couple of years now have plenty of inventory for shoppers to consider.
As inventory increases, the prices and incentives to move RVs will likely increase. If you’re looking for a towable RV, buying an RV is becoming more appealing.
However, if you’re looking for a motorhome, it’s becoming more expensive than ever to purchase a motorhome. So it may be best to wait until the chip shortage gets straightened out and we start to see decreased prices in motorhomes.
Are you considering an RV purchase in the future?
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