Retail sales of new powerboats in the US declined by 9.4% year-over-year, with sales the lowest since 2015, showing the impact of ongoing economic pressures and shifting consumer confidence.
For the first time wholesale shipments were below retail sales, down almost 23% year on year, signaling a normalization of retailer inventory levels.
Shipments of wake and sport boats declined by the greatest amount, with sales of runabouts declining the most.
Yacht retail sales declined by the least amount but represented the smallest segment in terms of number of units sold overall.
The figures are from the NMMA’s Monthly Insight Report for November 2024 which provides analysis of recreational boating powerboat unit sales and key economic indicators.
November saw the lowest powerboat unit sales since 2015.
Frank Hugelmeyer
“November saw the lowest powerboat unit sales since 2015,” said NMMA president and CEO, Frank Hugelmeyer.
“As we look at what’s transpired these last few months, we’re watching closely how macroeconomic growth, interest rates, and inflation may impact traditional powerboats, especially given the important boat show selling season.
“Strong consumer confidence and sentiment, availability to credit, and a healthy trading economy, remain paramount to our industry’s growth path.”
The data in the report is provided directly from NMMA member manufacturers to NMMA and from state governments in partnership with Info-Link as part of states’ new boat registration data.
The NMMA says that early indicators through January have shown numerous fluctuations with economic indicators, including consumer optimism being pulled back.
On a six-month moving average basis, purchasing plans for large ticket items remain flat, however reports from the recent Discover Boating Miami International Boat Show depict optimism with boat buyers shopping for the latest innovations and a high quality of leads generated.
