If you read the trade publications or the marketing new releases from the manufacturers, you’d never know the angst that is out there. But the industry is facing some serious issues. RV parts suppliers are sounding the alarm on negative impacts by the tariff confusion. RV show promoters are worried about seeing display space cut down by RV makers, a sure sign of issues. Dealers have more inventory just sitting on lots than they have in a long time.
First off, the numbers are not looking good. The RV Industry Association (RVIA) dropped some grim stats: in May 2025, RV shipments tanked to 28,150 units. That’s a 15.1% drop from the 33,150 units shipped in May 2024. I was shocked because earlier this year, things seemed to be picking up—first-quarter 2025 shipments were up 15.8% compared to last year, mostly thanks to towable RVs like travel trailers and fifth wheels. But that May slump? It’s like the industry thought demand was still booming and got caught with way too many RVs sitting on lots.
Dealers are stuck with overflowing inventories, and it’s no surprise sales are slowing down. I saw some chatter online about how 16.9 million American households still want to get into RVing, but wanting and actually buying are two different things. With so many unsold units, it feels like the peak camping season just didn’t deliver the way everyone hoped.
I think a big part of the problem is the economy. It’s hitting the RV industry hard. Winnebago Industries, one of the big names in the game, just reported a rough third quarter. Their earnings per share dropped to $0.81 from $1.10 last year, and revenue slipped 1.4% to $775.1 million. They even cut their full-year earnings forecast from $2.75–$3.75 to just $1.20–$1.70. Ouch. Their CEO, Michael Happe, basically said the economy’s a mess, with inflation, high interest rates, and talk of tariffs scaring off buyers. No wonder Winnebago’s stock is down 36% this year—I wouldn’t want to invest in that right now.
