Recreational boat sales posted their second consecutive month of weak growth in October, leaving the industry farther from the full-year gains forecasters were hoping for when 2016 began.
New Boat Sales
Statistical Surveys, a Michigan company that tracks new-boat registrations, provides monthly, quarterly and annual reports on boat sales from every state in the country.
The recreational marine industry followed double-digit August sales gains with a slow-growth September, adding to the unpredictability of a year marked by inconsistent sales.
U.S. powerboat sales are expected to be flat to up as much as 2 percent in September, with retail dollar sales up 4 to 5 percent, based on analyst discussions with marine lenders.
The recreational marine industry’s 2016’s story remains a page turner, and it’s getting better.
Marine lenders say August powerboat sales offset weak July sales with strong dollar growth and unit growth.
Recreational boat sales growth slowed sharply in the second quarter as strong June numbers were diluted by weak results in April and May.
Though small performance sailboats have seen somewhat strong demand, the desire for large sailing yachts has waned.
Recreational boating weathered a rough July as sales fell across most major industry categories.
Powerboat sales were likely “flattish” year over year in July, a Wells Fargo marine industry analyst says.
When summer arrives, you need a summer fun boat.