Sales in most segments of the recreational boat market were up in September, a reflection of some late-season warm weather. For the first time in months, sterndrive and inboard-powered bowriders and deckboats were on the plus side with 251 registered, a 5% increase over 239 in the same month in 2022. Forty-four cruisers measuring 31 to 40 feet were also sold, a 7.3% jump over the previous year’s 41.

Overall numbers for September were 7,198 for the main powerboat segments, a 4% drop from 7,499 in 2022. For the year to date, there were 135,698 new registrations, which was 7.5% less than 2022’s 146,751.

“Generally speaking for year to date, I’ve got the market down 7% to 8%, and that’s kind of what people expected,” says Joe Altobello, a stock analyst for Raymond James. “There seems to be a bifurcated market. If you’re buying a well-equipped premium boat and paying cash, you’re fine. If you’re buying a smaller, less-equipped boat, you’re having a harder time.”

He was looking at data provided by Statistical Surveys, a Michigan-based firm that compiled information from 31 states, representing about 68.9% of the U.S. recreational boating market.

The big winner for the month was jetboats, which were up 36.5% in September with 243 new registrations, compared with 178 a year ago. Personal watercraft were on the negative side for the first time in recent memory, but not by much, with 3,076 sold in September, a 2.3% decline from 3,148 in September 2022. Aluminum fishboats were flat, with 1,820 sold in September and in the previous year. Pontoon boats were also close with 2,075 registered in September, a 0.9% decline from 2022’s 2,094 boats.

Electric boats continue to be a niche attraction, with 18 new registrations in September and 184 sold so far this year. That was a drop from 197 in 2022. Sailboats took a 21.6% hit, with 76 new registrations in September compared with 97 in the same month in 2022.

One segment that analysts have been watching closely is ski/wake, which was down 14.2% in September compared with the previous year, and on the minus side by 20.9% for the year-over-year numbers, with 8,744 registered to date compared with 11,050 in 2022. These boats are not inexpensive, and Altobello says consumers aren’t willing to pay the extra money for them.

“A lot of towboat manufacturers may have priced themselves out of the market,” he says. “I can buy a sterndrive boat for a lot less than a wake-sports boat, and if I can save $40,000, I’m going to do it. Unless you’re an avid wakesurfer or boarder, you can buy a much cheaper boat.”

Nationwide, there were 11,870 new registrations in September, with Florida leading the way at 2,587 boats signed up. Texas was second at 1,491, followed by California at 858, South Carolina at 803 and Michigan at 585. 

This article was originally published in the December 2023 issue.