Boat manufacturing declined for the second month in a row following a summer of elevated growth, according to the National Marine Manufacturers Association’s monthly shipment report.
Year to date, shipments are down 13 percent through September on a seasonally adjusted basis and are now tracking near normal levels compared to 2019, the NMMA reported.
Despite the dip, the NMMA expects shipments to rebound as new parts are delivered.
“While September saw slowdowns in wholesale boat shipments, more than 90,000 boats — up 4 percent year over year — were built and shipped July through September. This led to lower supply inventories that constrained further output,” said NMMA business intelligence director Vicky Yu in a statement.
“We expect shipments will pick up as supplies are replenished, which reflects initial data coming in for October, showing an easing of supply chain constraints,” added Yu. “This is encouraging news, as manufacturers are working to meet the influx of new orders for boats in response to the heightened demand and interest in boating.”
Access to the report, which can be found here, is free to member companies that participate in the program, a group that represents 82 percent of the market by NMMA’s control group of manufacturers.
