Are we looking at a profitable Summer 2024 for used RVs, boats, and other powersport vehicles?
One of the legacies of the pandemic, four years out, is the interest in close-to-home recreation – anything that gets your family out of the house and into nature. Camping, RVing, boating – all saw artificial and skyrocketing price hikes during and immediately post-covid. However, with supply chain disruptions finally self-correcting and pre-orders all being fulfilled, the time is ripe for the used recreational vehicle market to shine. Because while new prices have stabilized, interest is still high, and people are more and more turning to the used recreational vehicle market to fulfill their summer dreams of fun in the sun.
During the fall, reports of falling sales for new recreational vehicles started to appear. One industry expert, Greg Fore, stated: “[new] RV retail sales has seen a rather steep decline over the past 18-24 months…[we] are mired in a longer-term stagnate market than everyone originally forecast – at least through 2024.”
With pent-up demand from consumers eager to embrace the great outdoors, dealers and fleet owners have a unique opportunity to capitalize on this seasonal upswing. However, amidst the promise of profit lies the need for strategic insights and data-driven decision-making to navigate the complexities of the market. “If you’re looking for a used boat, you have to watch the market closely,” says Chris Perera of Canada’s Boatdealers.ca. If consumers are watching the market closely, dealers need to be hypervigilant on their used equipment pricing strategy.
With all this turbulence in the used recreational vehicle market, insurers, fleet managers, and dealers need to stay ahead of the curve when assessing values. They can do this by accessing the industry standard Recreational Vehicle Blue Book from Price Digests. Look up recreational vehicle data online at app.pricedigests.com through annual web subscriptions, available for individuals and bulk subscriptions for larger organizations, as well as single lookups by searching for a specific make/model.
Consider a dealership specializing in used RVs, facing the challenge of inventory management and pricing uncertainty. By harnessing the power of Price Digests’ market value data solutions, the dealership gains access to real-time insights into market trends and pricing dynamics. Armed with this information, they can strategically adjust their inventory mix, optimize pricing strategies, and capitalize on emerging opportunities. With Price Digests as their trusted partner, the dealership navigates the summer market with confidence, driving sales and enhancing profitability.
In a rapidly evolving market landscape, success hinges on the ability to adapt and innovate. Price Digests offers a range of data delivery formats, including APIs, databases, and web access solutions, to meet the unique needs of our clients. Whether you’re a dealer seeking to streamline your operations or a fleet owner looking to optimize asset management, our data solutions pave the way for faster and better decisions, unlocking growth potential and driving profitability. Don’t miss out on the opportunities that await in your Summer 2024 forecast – ride the wave of opportunity with Price Digests at your side.
