Home Business Economists Saying Falling Sale Of RV Is A Sign Of Recession

Economists Saying Falling Sale Of RV Is A Sign Of Recession

481
0
SHARE

When it comes to recreational vehicles, Indiana county is that place which is famous for such type of cars. In America, people love to own a car, and possessing an RV has become a traditional thing. However, the recent reports from Indiana County, which is also known as “RV capital of the country” shows the negative side of this sector. More than 80% of the total recreational vehicles sold are produced in Indiana, and nearly 65% of those comes from Elkhart county. The RV manufacturers association is now quite worried about this sector because of a low number of products getting sold in the country.

A recent report shows shipments of RVs went down by 20.3 percent during this year. This data indicates the love for RV in people’s heart is vanishing, and they prefer other alternative vehicles. Now economists are predicting a sign of great upcoming recession based on the poor performance of the auto sector. So far this year, auto sales went down by 1.8 percent, and it somehow shows us that traditional industries are suffering the most.

Currently, the US is battling a trade war with big countries like China, Mexico, Canada, and those things are negatively impacting on the sale of the auto sector. People who are in the traditional manufacturing business are suffering the most. Big companies like Ford, GM, and Volkswagen are already shifting their core target to producing electric vehicles. Electric cars are inevitably going to take over the traditional ones like RV, SUVs. However, that thing is negatively impacting on the auto sector and overall economy of the nation. RV association said there is going to be a further decline in the sale of these vehicles and more job cuts are anticipated. Now that situation makes economists point clear that the country might be facing a recession in upcoming months.