Boat sales below pre-Covid levels
The National Marine Manufacturer Association, NMMA, has released its figures for new powerboat sales in the U.S. from January 1 through July 2022. With 187,000 boats sold, the number of transactions is down 18% from 2021, but also from the pre-pandemic level of 2019, down 11%.
However, the details of the transactions show sectors that are doing better. Pontoon boats, wake boats, and yachts remain at higher levels than 2019, while being down from 2021.
The president of the NMMA makes the point, emphasizing that boating is not the only sector affected. "In the first 7 months of the year, new boat sales have plunged below the 2019 pace, demonstrating that economic uncertainty and the expectation of a return to competition for consumer interest, has begun to show its impact. This is not specific to yachting, as most industries are experiencing the pressure of inflation, a volatile financial market, and increasing evocations of a global recession."
A yachting industry better armed than during previous crises
For all that, the NMMA wants to be reassuring. The supply difficulties would paradoxically have saved the yachting industry from the risk of overproduction, it says in conclusion. " While the turmoil and ongoing supply chain challenges are far from ideal, they have kept us from overproducing as other industries have done over the past two years. Dealer inventories remain fairly stable, meaning that pipelines are still refilling, leaving the industry in a healthier position than during the last downturns in our recent history."
