The United States has a vast topography including, beaches, forests and mountains. This prompts an increasing number of people to go for short holidays, either for recreational purposes or to cope with stressful lifestyles. Recreational vehicles are considered to be a perfect getaway for weekend and short domestic trips to neighboring cities. The increase in demand for these vehicles has resulted in an increase of RV sales.
Recreational vehicles come fitted with basic sleeping, toilet and cooking amenities. They can accommodate a number of people and are considered a safe and comfortable holiday vehicle. A lot many people are also opting for used recreational vehicles. This has directly caused a positive growth in the RV sales chart.
Reports have revealed that RV loans have almost always been paid in full. A very minimal percentage of RV loans have been delinquent. This trend has paved the way for banking and financial institutes to help provide lower interest rates and longer loan tenures in a number of RV loans. This leniency and availability of low interest rates has in turn, increased RV sales.
The Recreation Vehicle Industry Association (RVIA) monitors the RV industry very closely. Their reports conclude that RV sales have increased considerably since the beginning of this decade. RV producers and businesses are continuously increasing production to cope with consumer demand. RV sales reports and statistics showed an increase in shipments up to 16.1 percent in 2002 as compared to 12.4 percent in 2001.
Production capacities for manufacturers and businesses have increased in this decade. Improved RV sales have helped the industry grow in all aspects. The positive outcome of augmented RV sales has resulted in hiring new workers and launch of new assembling units. Expansion of existing plants and building of new facilities are also being encouraged.
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