PHOTO COURTESY NMMAThe National Marine Manufacturers Association is reporting that 2023 new powerboat sales are expected to be down 1% to 3%, with a total of 258,000 units sold. For the coming year, the industry is expecting similar new-unit sales.
“With jumps in interest rates and inflation in 2023, we saw more boating consumers being price-sensitive and deciding to wait things out before buying their next boat and, in the meantime, picking up a personal watercraft to enrich their time on the water,” NMMA president Frank Hugelmeyer said in a statement. “The nearly 1 million people who purchased a boat for the first time during the height of the pandemic continued to spend record time on the water in 2023, helping drive an economic impact of $230 billion.
“As we enter 2024, we expect Americans’ desire to be near water to continue as more people seek ways to prioritize health and wellness and enhance their quality of life, which has the industry focused on continued innovation and ensuring greater access to our public waters,” he added.
Most categories of new powerboats declined 5% to 25% in last year, but PWC are expected to be up by 20% to 25% in the final tally, comprising 85,000 to 90,000 of the 258,000 estimated new units sold at retail in 2023.
NMMA said manufacturers are focused on delivering innovative new products and will showcase emerging technologies at winter boat shows across the country, from hydrogen-fueled engines to boats powered fully by sustainable fuels.
