Sales in every segment of the recreational boating industry except ski/wake, jetboats and personal watercraft were down in August, a sign that business trends are returning to normal for dealers.

In the main powerboat segments, total registrations were 11,789, a 5.6% decline from 2022’s 12,494. The year-over-year numbers were 125,350 for 2023, an 8.2% drop from 136,552 in 2022. The total industry numbers were 21,056 in August 2023, which was 3.4% lower than 21,807 the year before. In the year-over-year data, the numbers were closer: 218,744 for 2023, a 1.9% increase from 214,603 in 2022.

“We now have a lot more market pressure than before,” says Eric Wold, a senior analyst at B. Riley Securities in San Francisco. “You’re going to see numbers down because there’s a double whammy of normalized levels and softening demand.”

He was looking at data provided by Statistical Surveys, a Michigan-based firm that compiled information from 36 states, representing about 77% of the U.S. recreational boating market.

In August, jetboats led the way with 543 new registrations. That was a 29.3% jump over 2022’s 420. After two rather calamitous months, the ski/wake segment returned to the plus side with 902 new boats compared with 871 in August 2022. Wold says he’s been hearing about some ski/wake builders complaining of sales declines in entry-level boats, although the least-expensive models in those lineups often start at more than $100,000.

The only other vessels in positive numbers were personal watercraft. In August, 6,465 new PWC were registered, a 2.4% increase over 2022’s 6,315.

Nine new semicustom and custom yachts measuring longer than 66 feet were sold in August, a 50% decline from 18 in 2022. Cruisers measuring 31 to 40 feet fared a little better, with 45 being registered compared to 52 a year earlier. That’s a drop of 13.5%. Despite these numbers, Wold says, “I haven’t heard a lot of widespread softening at the high end. People at the higher end are still OK.”

Aluminum fishing boats fought back from some tough months, with 2,807 units registered in August, a 3.1% decline compared to 2,898 in 2022. That brought the year-over-year numbers to within 1.1% of 2022, with 30,219 new boats in 2023 versus 30,547 last year. Pontoon sales were 3,967 in August, a 5.5% decrease from 2022’s 4,196. The year-over-year gap was larger at 8.7%, with 45,395 new pontoons in 2023 versus 49,746 in 2022.

Outboard-powered fiberglass boats had a decent August, with 3,565 new registrations, a 9.7% decline from 2022’s 3,947. The year-over-year numbers were better at 36,262 for 2023, an 8.2% difference from 39,515 in 2022.

Sterndrive- and inboard-powered bowriders and deckboats made up ground in August, with 446 new boats finding homes, a 3.3% difference from 461 in August 2022. The gap for the year was still larger at 15.4%, with 4,423 new registrations in 2023 compared to 5,227 the year before. 

This article was originally published in the November 2023 issue.