New Powerboat Sales Remain Strong but Slowed from April to May
The NMMA reports new boat sales remained healthy through May, according to the latest New Powerboat Registration Report. Data shows retail unit sales of new powerboats were up 24% on a rolling 12-month (R12M) year-over-year (YOY) basis through May, reflecting the continued interest and demand for boating over the past year. Pontoons, wake sport boats, runabouts and cruisers continued to drive new boat sales growth in May, with R12M YOY increases of between 48-55%.
“Compared to year-ago levels, sales year-to-date through May were up, buoyed by strong sales this past winter through early spring as manufacturers began to replenish inventory, and inclusive of two months of anemic sales last March and April due to lockdown restrictions in the initial days of the pandemic,” said Ellen Bradley, senior vice president of marketing and communications for NMMA. “However, looking month-to-month, we saw sales dip from April to May across all segments as the industry addresses persistent supply-side constraints.”
According to NMMA’s Monthly Shipment Report, wholesale shipments of new boats rebounded in May, up 12 percent on a R12M YOY basis from April.
Added Bradley, “We saw manufacturers’ efforts to replenish inventory provide a bump in May shipment levels, but we’re still not seeing shipment levels match the sustained demand for boats. Average inventory levels this year remain low, especially for high-demand categories such as personal watercraft, jet boats, saltwater fishing boats, and wake sport boats. Nurturing customers is critical during this period as we work to sustain interest into 2022 and 2023.”
Article Author: Boating Industry Editors