Cold Weather, High Rates Tempered April Purchases
June 22, 2023
The rainy, chilly month of April, inflation and interest rates held back buyers in some categories, but there were a few bright spots for new boat sales.
The rainy, chilly month of April, inflation and interest rates held back buyers in some categories, but there were a few bright spots for new boat sales.
Thanks to a sluggish economy, high interest rates and wet, cold weather in some parts of the country, April was a tough month for dealers.
After a glimmer of hope at winter boat shows, most dealers are disappointed by declining sales and tough economic times.
Founded in 1966, the International Council of Marine Industry Associations is a global organization composed of national boating federations and other bodies involved in the recreational marine industry. ICOMIA works on such issues as breaking down trade barriers, improving boating safety and promoting recreational boating worldwide.
Here’s what industry leaders see coming in 2023 in the areas of technology, engines, boat sales, political advocacy, mergers and acquisitions, and the workforce.
A key measure of U.S. consumer confidence declined in November amid continued high inflation and rising interest rates.
Inventories of new and used boats are improving at the retail level but are still considered comparatively lean, according to the results of the monthly Pulse Report survey.
Inflation and rising interest rates remain top of mind for consumers despite a strong labor market
U.S. financial markets have little doubt that Federal Reserve policymakers will boost interest rates.
So Federal Reserve chairman Janet Yellen believes the argument for a rate increase has strengthened. That’s not the same as saying one is imminent.
The rainy, chilly month of April, inflation and interest rates held back buyers in some categories, but there were a few bright spots for new boat sales.
Thanks to a sluggish economy, high interest rates and wet, cold weather in some parts of the country, April was a tough month for dealers.
After a glimmer of hope at winter boat shows, most dealers are disappointed by declining sales and tough economic times.
Founded in 1966, the International Council of Marine Industry Associations is a global organization composed of national boating federations and other bodies involved in the recreational marine industry. ICOMIA works on such issues as breaking down trade barriers, improving boating safety and promoting recreational boating worldwide.
Here’s what industry leaders see coming in 2023 in the areas of technology, engines, boat sales, political advocacy, mergers and acquisitions, and the workforce.
A key measure of U.S. consumer confidence declined in November amid continued high inflation and rising interest rates.
Inventories of new and used boats are improving at the retail level but are still considered comparatively lean, according to the results of the monthly Pulse Report survey.
Inflation and rising interest rates remain top of mind for consumers despite a strong labor market
U.S. financial markets have little doubt that Federal Reserve policymakers will boost interest rates.
So Federal Reserve chairman Janet Yellen believes the argument for a rate increase has strengthened. That’s not the same as saying one is imminent.
