Slowdown in new yacht sales in the United States
On the eve of the U.S. winter boat shows, the National Marine Manufacturer Association has unveiled its forecasts for the close of 2023. The figures reveal a decline in new motorboat sales in 2023 of between 1% and 3%, to 258,000 units. All size segments are affected, says the marine industry association, with declines ranging from 5% to 25%. Only personal watercraft sales rose sharply, by 20-25% according to the data collected. Frank Hugelmeyer, President of the NMMA, explains this trend in terms of inflation and financing difficulties: "With interest rates and inflation jumping in 2023, we're seeing more price-sensitive consumers in boating, and deciding to wait for things to change before buying their new boat and meanwhile, picking up a marine motorcycle to enrich their time on the water."
Decline in boat registrations in Spain
ANEN, representing the Spanish boating industry, has also compiled data on pleasure boat registrations in the country for the year 2023. With 5,976 registrations, the annual total is slightly up on 2022, by 2.2%. But the year-end trend is downward, with a drop of over 35%.
The charter sailing market, which is recorded specifically, saw an even sharper decline in December, down 66%, even though the year ended up 4.79% higher, with 2,057 boats registered.
Boats under 6 m, which account for almost 75% of the fleet, rose by 7.5%, while other sizes fell back or stagnated. In Spain, too, personal watercraft showed a different kind of dynamism from the rest of the market, with growth of 50%.
Common trends
The consistency between the data collected by ANEN and the NMMA seems to underline the current trend in the nautical market. If personal watercraft are to be separated from the rest of the fleet, the slowdown in boat purchases and deliveries is confirmed on both sides of the Atlantic. We'll be keeping a close eye on the start of 2024 to gauge the extent of this slowdown.
