Boat sales down compared to 2021
We had become accustomed since mid-2020 to double-digit sales growth statistics each quarter. After nearly a year and a half of euphoria, the U.S. boating industry's numbers for the first quarter of 2022 are down compared to the same period in 2021. For all that, the level of boat and other personal watercraft (PWC) sales, at 54,000 units, down 20%, remains higher than the pre-covid period of 2019, by +20%.
- NMV sales are down 30% from Q1 2021, but are up 34% from Q1 2019.
- Pontoon boat sales are down 12% compared to Q1 2021, but are up 19% compared to Q1 2019.
- Water sport boat sales are down 11% compared to Q1 2021, but are up 62% compared to Q1 2019.
- Motor cruiser sales are down 17% from Q1 2021, but are up 17% from Q1 2019.
Caution from the NMMA
The National Marine Manufacturer Association (NMMA) is not surprised by this stabilization of the situation and thus evokes the necessary prudence of the sector. "Not surprisingly, we see sales beginning to stabilize following the extraordinary growth of 2020 and 2021 as competition returns for consumer spending on goods and services that were unavailable during Covid, such as travel, sporting events, concerts and other activities. [We expect healthy boat sales this year, at or above pre-pandemic levels, with strong order books and dealer inventory continuing to catch up with record demand. This careful optimism is measured." says Ellen Bradley, NMMA vice president.
