August was another strong month for new boat manufacturing activity, according to the National Marine Manufacturers Association.
While wholesale shipments of new power boats tempered following three consecutive months of growth, August had the fourth highest single-month total of new boat wholesale shipments in a decade, according to the NMMA’s latest Monthly Shipment Report.
“We saw a slowdown in wholesale shipments of new power boats in August, mainly reflecting the continued pandemic-related supply chain constraints boat builders are facing on marine parts to fulfill boat order backlogs and the surge in new boat orders,” noted Vicky Yu, NMMA director of business intelligence, in a statement.
“Despite supply chain disruptions, manufacturing production has returned to near normal levels, and we expect shipments to rebound as supply deliveries come in,” said Yu.
New wholesale boat shipments in August moderated and were down 19 percent on a seasonally adjusted basis compared to a strong July, with decreases in production across all categories except sterndrive boats.
Year to date, new boat shipments are down 10 percent through August.
Access to the MSR is free to member companies that participate in the MSR program, which represents 82 percent of the market by NMMA’s control group of manufacturers.