The Canadian RV market in 2024 experienced notable shifts, influenced by economic factors, consumer preferences, and regional dynamics. Here’s an in-depth look at the key trends that shaped the industry:
1. Wholesale Shipments on the Rise
According to the Canadian Recreational Vehicle Association (CRVA), wholesale RV shipments into Canada totaled 30,338 units in 2024, marking a 15.9% increase from 26,171 units in 2023. This uptick indicates a growing confidence among manufacturers and distributors in the Canadian market.
2. Retail Sales Reflect Seasonal Patterns
Retail RV sales in Canada experienced a slight dip in the third quarter of 2024, with approximately 5,551 pre-owned RVs sold, down from 6,062 units in the second quarter. This decline aligns with typical seasonal behavior, as many consumers tend to make their purchases earlier in the year to maximize usage during the summer months.
3. Campervan Segment Continues to Grow
The campervan segment continued its upward trajectory in 2024. Canada had 84,000 campervans in 2024, a 16% rise from 72,400 in 2023. This growth reflects a broader trend of consumers seeking more flexible and compact RV options.
4. Regional Sales Dynamics
Sales patterns varied across provinces. Ontario led the country with 1,650 pre-owned RVs sold in the third quarter, followed by British Columbia with 1,262 units. However, both provinces experienced a slight decrease in sales compared to the previous quarter, highlighting the importance of regional strategies for dealers.
5. Economic Factors Influencing the Market
Economic factors played a role in shaping the RV market in 2024. Lower borrowing costs made RV ownership more accessible, further fueling demand. However, challenges such as high interest rates and economic uncertainty impacted consumer purchasing behavior and dealer inventory levels.
