Record Months for New Powerboat Retail Sales
The NMMA reports October was a historic month for new powerboat retail sales. Data shows new powerboat sales gained momentum in October, up 18% compared to September, and up 30% year-over-year (YOY) on a seasonally-adjusted basis.
Year-to-date (YTD) through October, more than 291,000 new powerboats were sold, surpassing cumulative sales for 2019. Early indicators show 2020 new powerboat retail sales are expected to reach record highs.
“2020 has been a significant year for boat sales, despite the disruptions stemming from the COVID-19 pandemic,” said Vicky Yu, NMMA’s director of business intelligence. “We expect new powerboat retail sales will reach highs not seen since before the Great Recession, reinforcing that Americans turned to boating this year as a way to safely enjoy quality time with loved ones while staying close to home.”
Highlights from the October New Powerboat Registrations report include:
- Sales of new personal watercraft, runabouts, cruisers and jet boats drove growth in October with double-digit sales increases YOY.
- New powerboat retail sales reached more than 291,000 YTD in 2020. The industry is positioned to see approximately 310,000 new boats sold by the end of 2020.
Article Author: Boating Industry Editors