Balking at cottage prices, millennials are driving RV sales

Despite a downturn in sales in the first half of the year due to Canada’s abnormally longer winter and wetter spring season, Canadian recreational vehicle sales remain sizeable — and it’s millennials that are driving new sales.

The Canada recreational vehicle market is expected to become a $3.6-billion industry by 2023, according to a report from IBISWorld, a research firm. The industry has already registered strong revenue growth of 3.2 per cent between 2013 and 2018, with around 2.1 million Canadian households owning an RV.

Shane Devenish, president of the Canadian Recreational Vehicle Association Cottage prices nationwide rose five per cent to an average of $411,471 in June, compared to last year, according to real estate broker Royal LePage. Meanwhile, a beginner trailer can set an aspiring camper back by anywhere between US$11,000-US$35,000.

“As younger campers stay committed to camping — and enter into new life stages as they marry and have children — their behaviourial changes bode positively for the industry,” reads the Camping Report, published in April. “We’re seeing the popularity with younger families in smaller trailers. They’re 18 to 25 feet, about a $20,000 to $25,000 purchase price,” said Tombari, Jr. “Financing’s around $125 to $150 a month to be able to go out and vacation.”

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