Q1 2023 : Supply Chain Market Intelligence Report
RVIA reports wholesale shipments remain low compared to 2022, though the volume is starting to rebound. Production was at record high levels in the beginning of 2022, so volumes feel even lower than what they are in relation to historical trends.
- The wholesale values of both motorhomes and towables continue to trend downward from their highs in the middle of 2021, though there has been a slight increase in the price of towables in the previous few months.
- The expectation is that dealers are going to start seeing more trade-ins as people are ready to spend time outdoors in the Spring weather.
Transportation & Manufacturing
- Labor continues to be one of the biggest challenges in this sector.
- A tight labor market means that employees still have considerable influence over wages, working environment and advancement opportunities.
- Concerns around inflation are lower than last quarter, though many Americans are delaying purchases due to inflation.
- There are some generational differences in the economic outlook, with older groups feeling more secure about the economy and express confidence in being able to handle surprise bills with less of financial burden.
- The Federal Reserve uses the Consumer Price Index to monitor the impact their monetary and interest rate actions are having.
- The CPI ticked up only 0.1% from February, which saw a 0.4% increase from January.
- Similarly, the 12-month change was down to 5% in March, and 1% decrease from February.
- Unemployment is at 3.5%, holding relatively steady over the last few months.
- The labor market continues to add jobs, though that is showing signs of slowing down slightly.