Anyone want a camper? It's a buyer's market for RVs as pandemic-era sales fizzle
CBC
Like a lot of Canadians, Alan Hong and his wife bought a trailer in 2020. Air travel was out of the question because of pandemic restrictions, and it made sense to spend time and money exploring the great outdoors.
But now, they're looking to get off life on the open road and get back in the air.
"We thought we would use the proceeds of the sale to do more international travelling," said Hong, 37, who lives in Calgary.
RVs — along with boats, ATVs and other outdoor vehicles — sold like hotcakes during the pandemic, as people poured their vacation funds into goods that could be enjoyed closer to home.
But like Pelotons and semiconductors, the sector is now going through a market correction, with household spending on "major durable goods for outdoor recreation" down 11 per cent last year, according to Eric Desjardins, an economist at Statistics Canada.
Tourism spending is up, the agency reported, with air transport and accommodations leading the growth in the fourth quarter. However, pre-trip expenses — which includes RVs and camping equipment — was the only product category to decrease last year, falling nine per cent.
Amid inflation and high interest rates, sales of new RVs in particular dipped by around 20 per cent last year, and are now below pre-pandemic levels, according to the Recreational Vehicle Dealers Association of Canada.
"People have a little bit less discretionary income," said Eleonore Hamm, the association's president, who noted that RV rentals are still fairly strong.
The dip varied by province. In Alberta, the country's RV hotspot, sales only fell about seven per cent, while sales in B.C. declined closer to 30 per cent, she said.
People aren't just putting off buying a new RV. Some are getting rid of the one they have altogether.
"There's quite a bit of pre-owned inventory on dealership lots at the moment," said Hamm.
Listings of used RVs on RVDealers.ca more than doubled this quarter compared to the same period last year, said the website's owner, Chris Perera.
He attributes the trend to two factors. Some people bought whatever RV they could get their hands on during the peak of the pandemic, and are now trying to trade in for a better model. Others have realized the lifestyle isn't for them and are getting out of the market.
WARNING: This story details allegations of child abuse.
It’s been hard to keep track of how many legal challenges and active court proceedings the United Conservative government has tried to quash or pre-emptively block in the last six weeks, but let’s try to tally:
Margaret Walker, the emcee of a Waterloo vigil commemorating the victims of the Montreal massacre, doesn't feel enough is being done to reflect on the killings and address gender-based violence.
The P.E.I. Humane Society says it is doing far more fundraising than it used to, and rising expenses — including the cost of animal medications — are a big reason why.
Ottawa is staring down a court-ordered deadline to submit a new plan to reform the on-reserve child welfare system, as a group of First Nations leaders and children’s advocates prepare a competing proposal.
An underpass revitalization project that was meant to pay tribute to the people of Parkdale has instead deteriorated into “a garbage dump,” according to nearby residents.
A young man has been charged with criminal negligence causing bodily harm after a fire at a frat party near Western University that injured five sorority sisters, including two seriously, late Tuesday night.
The massive deal to combine one of Hollywood's oldest studios with a streaming giant hasn't even been approved yet, but it's already riling multiple related industries and politicians concerned about monopolies and media concentration.
Mi'kmaq chiefs and a former Nova Scotia justice minister are criticizing the provincial government for directing police to crack down on illegal cannabis, saying the order undermines relations with Indigenous Peoples.
For years, there has been “glaring inequity” in the way the province has allocated the millions of dollars in its county roads budget, according to Department of Transportation Minister Chuck Chiasson.
Six months after passing a law aimed at making it easier for new grocery stores to open, Manitoba's premier says lower grocery bills could be on the horizon.
Timothy Smith was acting in self-defence when he punched Landon Waddell, and shouldn't be found guilty of manslaughter, his lawyer says.
Thoroughbred horse racing at Vancouver’s Hastings Racecourse is ending after more than a century, with the operator announcing Friday it will no longer run a racing season at the historic facility.