Balancing Act

Author:
Publish date:
Though sales of pre-owned boats were down slightly last year, sales of used inboard ski/wakeboard boats were up 5 percent.

Though sales of pre-owned boats were down slightly last year, sales of used inboard ski/wakeboard boats were up 5 percent.

The National Marine Manufacturers Association said it has released the fourth section of its 2018 U.S. Recreational Boating Statistical Abstract. The “Pre-Owned Boat Market” report includes retail unit sales data, retail market values, and average price information.

Last year, according to the data, 976,200 pre-owned boats valued at $9.8 billion were sold, down 0.6 percent from 2017. That includes traditional powerboats, personal watercraft and sailboats. The NMMA said that the ratio of pre-owned boat sales to new boat sales returned to pre-recession levels in 2018. In 2008, the ratio of boat sales was 70 percent pre-owned/30 percent new, but by 2010, it had changed to 81 percent pre-owned/19 percent new. Last year, the ratio was 71 percent pre-owned/29 percent new.

NMMA President Thom Dammrich told Trade Only Today that the return to the normal balance between new and pre-owned sales, driven by increases in new boat sales, “could result in less pressure” on pre-owned sales. Dammrich said that pre-owned sales tend to “be constrained” by limited inventory of sterndrive boats and smaller fishing boats.

“The pre-owned market continues to contribute significantly to marine accessory sales and services,” he added.

For the fifth consecutive year, unit sales growth in 2018 was led by the inboard ski/wakeboard boat segment, up 5.4 percent compared to 2017.

The statistics are available on NMMA’s website

Related

Caught Red-Handed

Two commercial fishermen were jailed for possessing an illegal haul that included 100 undersized lobster tails, which is a felony. Also, fisheries management gets new funding.

Bennington Expands Operations

The pontoon builder plans to add jobs at its new facility in Elkhart County, Ind., and increase manufacturing output.

KVH Industries Names CFO

Longtime telecom financial executive Roger A. Kuebel assumes the position that COO Brent Bruun had held in an interim capacity.

Quick Hits: March 4, 2021

Today at 4pm: Intrepid Powerboats celebrates president Ken Clinton’s 30th anniversary with a Facebook Live Q&A.

Sustainability at Navico

The electronics giant recently shifted to 100 percent recyclable packaging and appointed its first chief sustainability officer.

Soundings Trade Only hosts ‘Pitch the Pros’

The one-hour virtual sessions this week featured 18 companies that introduced products and technologies to more than 530 attendees.