When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research.
“People don’t make these large, luxury purchases unless they’re actually feeling better about the economy,” said Hicks, who follows the RV industry closely.
“It’s so sensitive to interest rate changes, which often precede a downturn.”A Winnebago travel trailer at Motor Sportsland RV dealership in Salt Lake City on April 6, 2020.
Nika Shneyder and her father and business partner, Alex Shneyder, standing by a Chill RV in Malibu RV Park, California, in 2019.
They moved down to a historically strong, but noticeably smaller, 493,000 the next year, according to data from the RV Industry Association.
Persons:
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Organizations:
CNN, Ball State University, Indiana University’s Center for Business, Economic Research, Bloomberg, Getty, Winnebago Industries, RV Industry, Dealers, RVs, Consumers, HL Enterprise, Manufacturing, of Labor Statistics
Locations:
Los Angeles, teeter, Salt Lake City, YOLO, Malibu, , California, Elkhart , Indiana, The Northern Indiana, South Bend, Elkhart, “, Elkhart .