Powerboat sales were likely “flattish” year over year in July, a Wells Fargo marine industry analyst says.
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.
When summer arrives, you need a summer fun boat.
Retail sales in the main powerboat segments likely increased between 6 and 8 percent in June, a Wells Fargo marine industry analyst is projecting, an increase from initial forecasts of 4 to 6 percent.
Though the scars of recessions past continue to linger with businesses as well as consumers, the industry seems poised at the midway point of the year to have a pretty solid 2016 if the current trajectory continues.
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The spring began with much promise in the recreational boat industry — 20 percent sales gains in March — but apart from a few reliable growth engines, overall sales in May weren’t much stronger than they had been during a weak April.
Boosted by the strongest March results since 2008, the recreational boating industry posted double-digit first-quarter sales gains, including two segments that sold nearly 10,000 boats.
Did anyone think we would see April boat sales that even approached the 20 percent gains of March?
Buoyed by successful winter shows and good early spring weather, the recreational boating industry had its best March in eight years as sales soared 21.3 percent in the main segments and 19.9 percent industrywide.
Sailboat sales declined 25.3 percent in 2015, returning to 2013 levels after seeing a spike in 2014, when new sales rose 33.9 percent.