Why An Increase In RV Sales Is Good For Indiana And The Economy
INDIANAPOLIS – If you want to know how well the economy is doing, then look at the RV and boat industries, says the local promoter of an upcoming show in Indianapolis focused on the sales of outdoor vehicles.
Kevin Renfro with Renfro Productions says sales of boats and motor homes are an excellent indicator of the amount of disposable income that people have available to make such purchases.
"[It] seems like the RV dealers were ever in their heyday, they're there. But I will tell you the industry that has really swung around in the past 12 to 24 months is the boat industry," according to Renfro, who is producing the upcoming Fall Boat and RV Show and Sale in Indianapolis.
Renfro says the RV and boat industries took a huge hit during the recession ten years ago, but have more than bounced back.
"[The RV and boat industries] literally got rearranged in 2008. The dust has settled and the boat dealers are doing really well," says Renfro.
According to the RV Industry Association (RVIA), sales of RV's have increased every year since 2012. In 2017, sales of motor homes saw it's biggest increase of 17.2 percent will sales of nearly 505,000 vehicles in the United States.
RV sales in 2018 are expected to match those of last year.
The RVIA also says more than 80 percent of the recreational vehicles sold in the U.S. are made in Elkhart and the surrounding area. The city calls itself "The RV Capital of the World."
The Fall Boat and RV Show and Sale is Sept. 21-23 at the Indiana State Fairgrounds.
Photo: Getty Images / Jeff Greenberg