Innovation takes center stage as U.S. boat sales cool following Covid-era demand surge
by National Marine Manufacturers Association 12 Jan 2024 07:49 PST
Discover boating © National Marine Manufacturers Association
NMMA reports new powerboat retail sales are estimated to be down slightly in 2023, approximately 1% to 3%, to 258,000 units. For the 2024 calendar year, recreational boating is poised to see new unit sales on par with 2023 levels as the industry continues to navigate interest rates, as well as ongoing shifts in consumer confidence.
Looking ahead, manufacturers are focused on continuing to deliver innovative new products and will showcase emerging technologies at dozens of winter boat shows across the country, ranging from hydrogen-fueled marine engines to boats powered fully by sustainable marine fuels.
While most categories of new powerboats saw estimated unit declines in 2023, anywhere from 5-25%, the personal watercraft segment saw a significant increase, and is projected to be up between 20-25% as final 2023 sales data are calculated. Personal watercraft, which are small craft for one to three people, and often a gateway to boating given their entry-level pricing and ease of use, are expected to make up approximately 85,000-90,000 of the 258,000 estimated new units sold at retail in 2023.
Continue reading the full article here...