Finseeker have had a record year with a huge back order.
Early reports of Q1 new boat sales in America are coming off the boil from 2021 levels, but still outpacing pre-pandemic results.
Following two years of historic growth, US sales of new powerboats through the first quarter of 2022 are showing signs of normalising, according to the National Marine Manufacturers Association (NMMA), America’s principal trade body for boating.
Retail sales of new powerboat segments totalled 54,000 units through the end of March, down 20% compared to the same period last year, but still above pre-pandemic levels of 45,000 units for the first quarter of 2019.
“Not surprisingly, we’re seeing sales begin to stabilise following extraordinary growth in 2020 and 2021 as competition returns for consumer spending among goods and services that were in many ways inaccessible during COVID, such as travel, sporting events, concerts and other activities,” said Ellen Bradley, NMMA senior vice president. She noted that website traffic to Discover Boating channels and across key boating search words in Q1 had also normalised. Bradley added, ”We expect boat sales this year to be healthy, on par with or above pre-pandemic levels, with forward order books strong as dealer inventory continues to catch up to meet record demand.”
chain bottlenecks.
Data from US market tracking firm Statistical Surveys confirms an increasing decline in new boat registrations through March, but also reported that slowing demand was not the cause, pointing at scarce inventory as the underlying cause.
NMMA said additional insights from member wholesale activity show recreational boat, engine and accessory manufacturers are working to balance inventory levels and fulfil retail orders while navigating ongoing supply chain challenges. Those supply chain challenges are expected to continue through 2022.
According to the association’s Monthly Shipment Report, wholesale shipments of new powerboats through Q1 2022 decreased 13% year over year, while wholesale shipments of outboard engines increased 4.8% and trailers have jumped 37.9% year over year.
At retail, registration declines ranged from 11% to 30% depending on the category of boats. Personal watercraft were down 30% in Q1, while cruisers – the category most relevant to boat importers – were down 17%. New registrations of wakesport and pontoon boats, fell 11% and 12% respectively.
Overall, US retail sales of new powerboats reached approximately 300,000 units in 2021 – matching a 15-year high also achieved in 2020.
First-time boat buyers accounted for a remarkable 34% of US boat sales in 2021.
