Dealer sentiment on current conditions inched up to 38 in January (from 36 in December), while the three-to-five-year outlook ticked lower (50 vs. 52 in December). A figure of 50 is neutral.
For this month’s Pulse Report, Soundings Trade Only, Baird Research and the Marine Retailers Association of the Americas asked 50 retailers to assess recent trends in North America. In January, 40% of dealers surveyed reported retail declines, compared with 32% that reported growth. Dealers also reported flattish used-boat retail, as 37% reported declines and 37% reported growth.
Better relative affordability of used units may be supporting better used demand trends, Baird’s report stated. One dealer said: “Well-priced used is selling. New at deep discounts. Consumers seem to be interested in technology more than ever. Joystick docking, autopilot [and] auto tabs have become very popular.”
Dealer assessment of inventory levels improved, as 46% reported new-boat inventory is “too high,” down from 71% in December. Five percent of dealers considered new-boat inventory “too low,” up from none in December. During winter, dealers seek to minimize carrying costs, and financiers have suggested that dealer inventory comfort will improve this spring as the retail selling season starts up. For used inventory, 30% reported “too low” versus 28% that reported “too high.”
One dealer summed up the situation like this: “Promotions and incentives from the manufacturers and dealers, along with financing availability, will have the biggest impact. Decrease will likely be consumer sentiment.” Another added: “Overall interest and new leads are both trending in the right direction.”
When asked what was working, one dealer said, “Social media and video introductions are huge successes for us.” Another said, “Small, in-house events just provide extra reasons for customers to show up. Doesn’t need to be big. Just give your salespeople a reason to get on the phone that they’re excited about, and the prospects feel it.”
Many dealers expressed the value of promotions, with one saying: “Boat show season incentives are helping to move the needle ($2,000 to $3,000 off), as well as the combination of the new Yamaha promo that gives customers two-year warranty on midrange on up, or a small credit toward the portable line.”
Regarding customer contacts, another dealer said, “Texting is the best way as a follow-up.”
When asked what was not working, many respondents mentioned the harsh weather in many parts of North America that has kept people indoors this winter. One dealer wrote, “Low traffic at our first boat show. The weather did not help.” Another said, “The weather has been very cold, even for the Northeast. It’s hard to get people to come to the shop to look at anything with these conditions, and even web traffic is down.”
Overall, the January survey suggested that dealers expect continued retail declines into spring, but that boat shows and the spring selling season may indicate a stronger pattern. To that end, Baird asked dealers for their new-unit sales expectations for this year. Broadly, dealers expect volumes to be flat or up slightly.
Reflecting ongoing concerns with the affordability of new boats, one dealer said, “We have some new budget pontoon boats aimed more at new boaters who don’t want to commit $60,000-plus to an activity they aren’t sure about. We are hoping this brings new boaters in and encourages them to eventually trade up.”
Another commented, “We’ve added a new line that hits what the market needs at this point. While everyone is trying to go after the high-end surf customer, we’re getting them into the store with a value-based proposition that gives them everything they need on the water without costing $250,000.”
Many dealers described efforts they’re making to improve their own operations. One said, “After [MRAA’s] Dealer Week and some articles I have recently read about how our industry is behind in providing the customer a better dealer experience, we have created an internal committee to work on ways we can enhance the customer interactions and ease of working with us as a dealer.”
This story originally appeared in the March 2026 issue of Soundings Trade Only.
