Skip to main content

Turned off by high gas prices?

  • Author:
  • Updated:
    Original:

We're paying as high as $2.73 a gallon for gas at the pump to drive our cars in Essex, Conn., home of Soundings Publications.

I know it cost more to fill a boat at the marinas, and I'm wondering if the soaring price will deter people from buying boats.

In addition to paying the high cost of fuel, there’s the cost to insure the boat and let’s not forget the cost to dock the boat. 

It all adds up.

Can the middle-class afford a boat?

The upcoming April issue of Soundings Trade Only has a story on how high gas and diesel prices took a toll on fuel sales, profit margins and repair work.

But boaters did not indicate they were ready to quit their pastime to save on fuel costs, according to a recently released survey by a supplier, Illinois-based ValvTect Petroleum.

Only 5 percent of the marinas indicated their powerboat customers talked about getting out of boating. 

According to the Associated Press, the RV industry has been reporting record sales for the past five years, despite the rising cost at the pump. An increasing number of baby boomers want the gas-guzzling vehicles for retirement and younger families want to vacation closer to home.

But what about the boating industry?

How are dealers and manufacturers addressing the cost of fuel as they feverishly try to convince potential buyers to spend their disposable income on boats?

Lois Caliri
Editor
Soundings Trade Only

Related

VOLVO-EARNINGS

Volvo Penta Reports Q4, FY22 Results

Net sales of $470 million for the quarter were a 33% increase compared to the prior year period.

Pulse-Report

DEALERS: Are You Improving the Service Experience?

Our monthly Pulse Report survey asks this and other questions about your dealership. Take the survey here.

NMRA-SCHOLARSHIP

NMRA Sets Scholarship Deadline

Students pursuing education in the marine trades can apply for the National Marine Representatives Association awards until April 1.

MARINE-PRODUCTS

Marine Products Reports Record Q4

The builder of Chaparral and Robalo boats reported net sales were up 42% for the quarter and 28% for fiscal year 2022.

1_SHURHOLD

Shurhold Appoints COO

Forrest Ferrari has years of management, business development, IT and quality-assurance experience.

MOBILE-CATCH-CENTER

RBFF, Pure Fishing Partner for a First Catch Center

Pure Fishing will equip a mobile trailer with tackle and gear to bring fishing experiences to areas of South Carolina where participation is low.

Norm

An Oft-Overlooked Sales Opportunity

A recent report from the Recreational Boating & Fishing Foundation showed that women comprise 37% of all anglers. If you haven’t tapped this segment, you’re missing out.

1. 2023 new boat retail outlook

Too Many High-Priced Boats

To wrap up 2022, marine retailers reported lower demand, expressed more negative sentiment and voiced concerns about rising inventory. Boat prices and the economy remained top of mind for dealers in December.

Soundings Nov 2022

New-Boat Registrations Continue to Slide

As the gaudy sales figures from the pandemic continue to return to more realistic numbers, the main segments of the recreational boating industry saw new-model registrations of 4,421 in November, a 30.3% drop from 6,340 during the same time in 2021. .