New data from the National Marine Manufacturers Association (NMMA) show wholesale shipments of new boats increased for the third consecutive month in July, doubling compared to June on a seasonally adjusted basis, as boat building production continued to gain momentum across all boat categories.
“Manufacturing has steadily been ramping back up with production at 92% of where it was last year as manufacturers continued filling back orders to meet the surge in demand for new boats,” noted Vicky Yu, NMMA director of business intelligence.
The latest data released in September also show new powerboat retail sales are continuing to climb, up 22% in July on a seasonally adjusted basis compared to the same month a year ago.
“Personal watercraft, outboard boats, and jet boats drove growth in July – both wholesale and retail – reflecting the high demand from new boat buyers,” said Yu.
According to NMMA, wholesale shipments of personal watercraft (PWC) were up an unprecedented 271% in July compared to June, on a seasonally adjusted basis; wholesale shipments of outboard boats returned to pre-pandemic levels and were up 7% compared to June; and wholesale shipments of jet boats were up 176% in July compared to June. The national data revealed that all high volume new powerboat segments through July saw retail sales increases from 5% – 10% for the year, with retail sales of cruisers, freshwater fishing boats, pontoons and tow boats reaching their highest monthly sales’ totals since 2007.
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