Dealer sentiment on current conditions declined to 36 in March (from 42 in February), while the three-to-five-year outlook declined to 47 (from 51 in February), according to the recently released Pulse Report. A figure of 50 represents neutral sentiment.
For this month’s Pulse Report, Soundings Trade Only, Baird Research and the Marine Retailers Association of the Americas asked 63 marine dealers to assess recent trends in North America. They reported slight retail improvements in March, with 41% citing retail growth compared with 36% who reported declines — the first positive result in a year.
Comments still reflected broader uncertainty, though, as dealers contend with the impact of geopolitical events, the Baird report said. March typically represents about 10% of annual retail sales. “The current economic uncertainty is holding a lot of potential buyers back. The war in Iran, in particular, is driving up gas prices, which has many of our customers concerned about how much they will use their boats this summer,” one dealer said.
Still, another dealer noted that “quality brands continue to sell,” and Brunswick reported strong engine share and retail demand at a recent boat show, suggesting pockets of strength in the market. Dealers also reported slightly positive used-boat retail, with 33% citing growth and 30% citing declines.
Dealer inventory comfort was identical to February levels, with 51% reporting new-boat inventory as “too high” (down from 71% at year’s end) and 10% reporting it as “too low.” In used boats, dealers reported leaner inventories, with 40% saying inventory was “too low” versus 20% who reported “too high.”
When asked what was working, many dealers commented, more or less, “not much.” On the positive side, dealers mentioned incentives and aggressive follow-up as critical to sales. One dealer said, “People are looking for good deals. If you are able to show price, and that price is competitive, customers will initiate. People know there is a lot of good inventory in the field and are price-shopping at this time.” Another said, “Manufacturers who are actually contributing to deals to help get them done.” Yet another dealer said, “Great follow-up and service after the sale brings great referrals that help bring qualified leads.”
When asked what was not working, dealers identified hesitant consumers, a lack of manufacturer incentives and current economic conditions, especially concerns with fuel prices. One dealer said, “Buyers are very hesitant. Even when presented with a huge discount, buyers are taking a wait-and-see attitude.” Another said that it’s “crazy to me how the manufacturers are concentrating on helping the companies that have mismanaged their inventory and not promoting the current models with as much push and effort for keeping the factories going full throttle.” Yet another commented, “Low-value manufacturer rebates did not help. It took higher amounts (or at least perceived amounts) to move the needle on most customers.”
Prices, in fuel and materials, are a major concern for many dealers. One said, “Very concerned about fuel prices heading into the season. For most people, boats are used for leisure, and filling a large fuel tank with fuel at $5-plus a gallon gets expensive really quick. Along with the rising costs of new units, service, storage and all other boating-related things, we are pricing ourselves out of the market. The people that have money still have it and are willing to spend, but I’ll be interested to see how the middle and lower class react. Proceeding very cautiously.”
The survey also asked dealers about their approach to artificial intelligence use in their businesses. More than 45% of respondents said they were “testing tools without consistent use.” About 30% said AI tools were “gaining traction with a few regular users.” More than 15% said they were not using AI at all. About 5% said AI tools were “embedded in key workflows and processes,” and 5% said their use was “standard practice.”
This story originally appeared in the May 2026 issue of Soundings Trade Only.
