FUEL PRICES AND THE RV INDUSTRY
Despite high fuel costs, two-thirds of RV owners intend to use their RV including RV renters more this spring and summer than last, and one-third plan to use it about the same amount. Only 7 percent say they'll use a RV less, and April survey reveals.
Many RV renters say they will adjust to higher fuel prices this spring and summer by staying longer in one place(52%) or closer to home(45%). But surprisingly, more than (37%) say fuel costs will not affect their RV travel plans, and (67%) percent actually plan to drive more miles in total.
In times of high fuel prices, RV renters spend more time enjoying the campground experience and less time on the road. With more than 16, 000 campgrounds nationwide, RV renters have the flexibility to save fuel and cut costs by staying closer to home, Whether they travel five kms or 500, their outdoor experience can be the same.
Even with today's high fuel prices, RV travel is a great value. Almost half of RV renters surveyed said they plan to use a RV more in the spring/summer in order to get away less expensively. A 2005 vacation cost comparison study by Pannell Kerr Forter shows that RV trips remain the most affordable way for a family to travel because of the significant savings on hotels and restaurant costs.
Fuel price hikes increase the cost of all modes of travel and transportation. Airfares and hotel rates are rising rapidly as fuel costs increase. Fuel prices would need to triple from their current level to make RVing more expensive for a family of four than other forms of travel,
More than two-thirds of RV renters surveyed will take additional measures to reduce fuel consumption through simple steps like driving 90 instead of 100 kms per hour, and adjusting home thermostats to save energy when traveling. RVers drive at a leisurely pace with no tight schedules for flights, hotels or restaurants. Frequent vacationers, they often shut off their home heat or air conditioning, sometimes for extended seasonal travel.
Outdoor recreation and vacations offer physical and mental health benefits that are considered essential by experts, and are treated as priorities in their lives by an ever-increasing number of Canadians. RVs are a springboard to all types of recreation and travel opportunities. 67 percent of RV renters surveyed in April say they are more physically active on RV trips than on other vacations.
The RV industry has a widening array of product choices now to maximize their fuel efficiency, which should encourage continued growth.
Long-term demographics favor continued RV market growth as the entire baby boom generation reaches the prime RV-buying and renting age, and more young families enter the market as a result of intense industry promotional activity. The trend toward more active outdoor recreation and travel should also stimulate growth.
RV industry forecaster DR. Richard Curtin, director of consumer surveys at the University of Michigan, says growth rates in the RV marketplace are likely to continue to accelerate. He projects the number of RV owning households will rise 8 percent by 2010.