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Boat Prices Plateau, and Some Weaken

1_JDPOWER.Q2

Prices for boats and personal watercraft “plateaued at an extremely high level” this year, according to an industry report from market research firm J.D. Power.

J.D. Power’s marine Market Insights survey for the second quarter found that prices for all boat segments were near historic highs.

The most recent 10 model years of used outboard boats averaged 48.5 percent higher prices in the first half of 2022 compared with the same period in 2021. The inboard category outperformed, recording an increase of 49.4 percent. Pricing for sterndrives was 34.5 percent higher, and PWC were 36.4 percent higher.

J.D. Power data revealed that the steepest period of price hikes was in 2021. Sterndrive boats and PWC have posted modest declines this year, the report stated.

As gasoline prices increased to record highs in the first half of the year, consumer web traffic still trended higher, especially for sterndrives and PWC, the quarterly report showed.

“Changing economic conditions have not put a damper on customer demand for boats and personal watercraft,” J.D. Power stated in a summary. “As long as demand remains strong and supply tight, pricing will follow suit.”

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