2023 RV Prices: How Much Should You Expect to Pay for a New Rig?
RVs saw a dramatic spike in demand from 2020 to 2022. During this period of RV mania, Americans sought ways to escape the pandemic-related flight restrictions. People looked to campers and motorhomes to enjoy socially distanced vacations or work from a mobile office. The increased sales sent RV prices skyrocketing, leaving many wondering if they would remain high or return to pre-pandemic rates. So, what are 2023 RV prices like?
What is the average price of a new RV?
RV sales soared in 2020 and 2021 as people looked for ways to get out and enjoy the sights and fresh air. Total RV sales spiked by 53.5% in 2020, prompting manufacturers to struggle to meet the demand. With the increased demand came higher prices.
RV prices vary according to the model. According to Camper Report, average prices for towable RVs in 2021 were as follows:
- Pop-up campers, $16,900
- Teardrop trailers, $23,900
- Travel trailers, $35,100
- Fifth wheels, $70,000
And average motorhome prices were as follows:
As the world adjusts after the pandemic and air travel has resumed, the demand for recreational vehicles has dropped, gradually decreasing 2023 RV prices. So potential buyers should expect slightly lower prices than those listed above.
2023 RV prices will likely continue to drop
Despite the optimistic forecast, the RV Industry Association (RVIA) reports that the total RV shipment in March 2023 was 31,869, a 50.8% decrease year-over-year from March 2022. RVIA notes that sales are down by 54.3% compared to 2022. That decline can be seen as a return-to-normal market trend expected to continue throughout 2023.
As 2023 progresses, RV shoppers should expect average prices to decrease due to increased RV supply and reduced demand. The looming economic recession might also increase the RV supply.
According to Camper Report, people who tried the RV lifestyle for the first time during the pandemic might face higher loan interest rates and higher RV ownership costs. As a result, many might sell their recreational vehicles as the economy heads toward a recession.
Although most industry insiders predict 2023 RV prices will drop, RV Travel reports that inflation could do the opposite. For the past 20 years, the United States had not seen a high inflation rate until the beginning of 2022. In response, RV prices could still rise this year.
How to get a good deal on an RV in 2023
With fluctuating prices and mixed views from industry experts, many potential buyers wonder if it’s a good time to get a deal on an RV. A recession in 2023 would likely push many slightly used RVs onto the market. However, to get the best deal, shoppers must know the type of RV they want and how much they’re willing to pay. They also should never pay the sticker price.
In addition, the ideal times to purchase an RV are at the end of the month or in the slowest months. Dealers want to meet monthly quotas, so shoppers are more likely to find incentives and discounts toward the end of the month. According to Camper Report, January, February, July, and August are typically good months to find the best RV deals.
Also, consumers must understand that RVs are not meant to sit in one spot for months or years. Otherwise, the tires and other vehicle components might suffer from inactivity. So Camper Report advises shoppers to avoid low-mileage motorhomes or at least have an independent RV inspector check them.
RV shoppers in 2023 might face less of a hit to their wallets. Industry insiders say the high demand for motorhomes and towable rigs during the pandemic has dropped. The law of supply and demand that fueled RV price spikes is bringing them down this year.