RV sales spike thanks to millennials
The recreational vehicle market has seen a surprising boost in sales in the past year, and the demographic driving the uptick may surprise you.
Millennials, ages 18-to-34 are a new driving force in camping and RV sales.
A Lane County poll of 16,000 residents found that 15 % of the sample, the millennials, planned to make an RV purchase in the next 12 months.
This number still lags behind older demographics, but it is still an encouraging trend that has many RV dealerships taking notice.
Marathon Coach CFO Steve Irvin says he knows their niche is not the millennials, but they're banking on this generation to upgrade their coaches in the future years, turning them into possible customers.
"They move to a smaller RV, and then they move up to a larger RV, and then they eventually land at our door," said Irvin.
Daniel Layman, a millennial RV customer, says he isn't surprised more millennials are getting into RVs.
"With all the music festivals and everything that Oregon has to offer, it doesn't surprise me at all," says Layman.
Layman says he's often on the road for business, and is fortunate that his employer lets him spend his travel allowance checks on a coach.
"I can take that money they they pay us each week and put it towards an asset instead of just, you know, a hotel," said Layman.
The recreation vehicle industry association predicts national RV sales will top 400-thousand units for the first time ever this year.