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Marine Resources 2022 - LEADERBOARD

Report: New powerboat sales normalizing, continue to outpace pre-pandemic levels

by National Marine Manufacturers Association 6 Jun 18:27 PDT
Discover Boating © Nick Gallop

The NMMA reports new powerboat sales through Q1 2022 are showing signs of normalizing following two years of historic growth. In the first quarter, new powerboat retail sales totaled 54,000 units, down 20 percent compared to Q1 2021, while continuing to surpass pre-pandemic levels, up 20 percent from Q1 2019's 45,000 units.

"Not surprisingly, we're seeing sales begin to stabilize following extraordinary growth in 2020 and 2021 as competition returns for consumer spending among goods and services that were in many ways inaccessible during Covid, such as travel, sporting events, concerts and other activities. In addition to new powerboat sales, we saw a normalizing of traffic to Discover Boating channels and in search activity across boating keywords in Q1. We expect boat sales this year to be healthy, on par with or above pre-pandemic levels, with forward order books strong as dealer inventory continues to catch up to meet record demand," said Ellen Bradley, NMMA senior vice president. "This cautious optimism is measured given consumers' continued interest in experiences, particularly outdoor recreation, economic indicators such as low unemployment and stable consumer confidence, and as we monitor downside impacts of inflation and stock market volatility on consumer sentiment."

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