The RV Industry Association, or RVIA, has good news this morning for recreational vehicle (RV) sector companies such as Camping World Holdings (CWH -8.36%) and Winnebago Industries (WGO -3.35%). Current metrics from the year's first quarter point to 2021 sales jumping approximately 23% above 2020's figures, the organization reports.
2020 was already a banner year for RV sales as people sought relief from COVID-19 lockdowns. The government shutdown of entertainment and wide swaths of the economy in response to the pandemic "had people who had maybe thought about RVing suddenly jumping in," RVIA analyst Monika Geraci said in the report.
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Geraci also said the industry is "on quite a streak right now," a statement supported by projections showing 2020's 430,412 RV sales exploding to between 523,000 and 543,000 units this year. Ordinarily, RV sales spike in summer, but the recent surge began in spring 2020, continued through the summer, rose even higher in November and December, and continued its climb into the early months of 2021.
A month ago, Camping World got a significant analyst upgrade thanks to its growing sales and expansion of its nationwide chain of SuperCenters, but today's news may send its stock up yet again. Winnebago reported 34% year-over-year sales growth during the most recent quarter, showing steady acceleration from previous quarterly growth of 15% and 22%.
