New Powerboat Sales Continue Surge in 2015

New powerboat sales are on a multi-year rise and are approaching pre-recession levels, according to the National Marine Manufacturers Association (NMMA).

The Chicago-based marine trade association estimates new powerboat unit sales will be up as much as eight percent for calendar year 2015 when the industry tallies its final figures. The NMMA anticipates the industry will continue its growth spurt with an increase in new powerboat sales of six to eight percent in 2016.

“A steadily improving economy and flurry of product innovation have boosted new powerboat sales, which is encouraging to see as we head into the winter boat show season, one of the busiest selling periods of the year,” said NMMA president, Thom Dammrich. “We anticipate six to eight percent growth in 2016 which would take total new powerboat sales back to pre-recession levels of 250,000 units.”

Most powerboat categories – including outboard boats, wake sport boats, inboard cruisers, sterndrive boats and jet boats, as well as personal watercraft – experienced year-over-year growth through the second quarter of 2015: jet boats up by 18.1 percent; wake sport boats up 12.1 percent; deck boats up 11.3 percent; personal watercraft up by 8.2 percent; pontoon boats up 6.6 percent; and bass boats up 5.3 percent. Other fiberglass outboard boats (including center console boats, sportfishing boats, and flats boats) were up 11.1 percent, and other aluminum outboard boats (including all-purpose fishing boats and jon boats) were up by 5.8 percent.

Sales of larger boats, particularly those equipped for offshore fishing, are on the rise following a sharp decline during the recession. Sales of new powerboats 40 feet and above were up 9.4 percent through June.

Noted Dammrich, “The saltwater category is hot and has seen double-digit growth for three years, likely given growing popularity of the sport coupled with the trend to make what used to be exclusively fishing boats into more versatile family day boats that can also be used for hardcore fishing. The innovations we’re seeing in this category are bringing out buyers who want the best of both worlds, an eventful day of fishing and a relaxing day cruising with friends and family.”

January marks the start of boat show season across North America. Many boat dealers make as much as 30 percent of their annual revenues at winter shows, which are considered a leading indicator of sales and buyer trends for the coming year.