June was a strong month for boat sales, as weather improved in many regions. Sales in the main powerboat segments outpaced the previous year by 2.2%, with 19,019 units registered compared with 18,604 in 2022. The month also closed the year-over-year gap to 11.2%, with 87,941 new boats sold compared with 99,048 for the same time frame in 2022.
“Our channel checks and management conversations have indicated boat demand among the middle- to higher-income consumer demographics has remained fairly resilient, with growth even over year-ago elevated levels — with the data showing a return to normal monthly demand seasonality,” says Eric Wold, senior analyst at B Riley Securities, in response to data provided by Statistical Surveys. The Michigan-based firm compiled information from 36 states, representing about 74.99% of the U.S. recreational boating market.
In the main powerboat segments, aluminum fish continued to lead the way with 3,735 new boats registered, a 14.4% boost over 2022’s 3,266. That brought the year-to-date numbers to 21,399, just 4.5% shy of 2022’s 22,408. Pontoon boats returned to the positive side of the ledger with 7,757 new boats, a 3.6% improvement over last year’s 7,486. A category that had been struggling for months, bowrider/deckboats had a positive report, with 737 new units, a 2.8% boost over 2022’s 717.
With 12,730 new vessels registered, personal watercraft were 50.7% ahead of last year’s 8,447 units sold in June. That brought year-over year numbers into the positive side as well, with 44,408 in 2023, a 24.6% jump over 35,646 last year. Some of that could be attributed to manufacturers getting the parts they needed to get backlogged units into the field.
Some 661 jetboats were sold in June, a 30.4% increase over 2022’s 507. That put the year-over-year numbers at 2,874 new units, a 1.3% increase over 2,836 in 2022. The “all others” category saw 2,893 new registrations in June, a 22.5% gain over 2022’s 2,361.
Segments that had a tough time in June included 41- to 65-foot yachts, with 37 sold, a 41.3% decline from 63 in 2022. Semicustom and custom yachts larger than 65 feet struggled, too, with eight registered in 2023, a 38.5% drop-off from 13 in 2022. Cruisers measuring 31 to 40 feet fared a little better with 58, a 25.6% drop from last year’s 78. Wakesports boats continued to hold closer to prepandemic form with 1,437 units sold in June, a 14.3% decline compared with 2022’s 1,676.
Electric boats held steady with 21 registered in June, an 8.7% decline from 23 a year ago. Year-to-date numbers, however, were up 20.5%: 135 in 2023 compared with 112 last year. Sailboats also closed the gap, with 154 sold, a 9.4% drop from 2022’s 170. That closed the void between 2022’s 855 and this year’s 760 to just 11.1%.
Of the 36,015 new registrations for the year, Florida led the way with 4,638, followed by Michigan at 3,143, Minnesota at 2,772, Texas just two boats behind at 2,770 and New York at 1,852.
This article was originally published in the September 2023 issue.
