U.S. Boat Sales Reached Second Highest Volume in 12 Years in 2019, Expected to Remain Strong in 2020
CHICAGO--(BUSINESS WIRE)--Jan 7, 2020--
The National Marine Manufacturers Association (NMMA), representing North American recreational boat, engine and marine accessory manufacturers, announced today that as it finalizes 2019 sales numbers, retail unit sales of new powerboats are estimated to have held steady in 2019 at approximately 280,000 units, the second highest total since 2007. The busy winter boat show season kicks off this week across the country with new powerboat sales expected to be up as much as 2 percent in 2020.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200107005153/en/
As winter boat show season kicks off around the U.S., new powerboat sales are expected to be up as much as 2 percent in 2020. (Photo: Business Wire)
“Sales in 2019 were nearly on par with the 11-year high we saw in 2018, even with some softening particularly in the freshwater fishing category, which we attribute to unseasonably cold and rainy weather in spring and early summer. Looking at 2020, with the economy on solid footing and key economic indicators like consumer spending remaining strong, we expect another healthy year for new boat sales, which could be up as much as 2 percent,” said Frank Hugelmeyer, NMMA president. “With approximately $42 billion per year in retail expenditures, boating is not only an economic driver but a unique vehicle for the kind of meaningful experiences consumers are seeking more and more—ones that take you outdoors, bring together family and friends, and create lasting memories.”
The following new powerboat categories drove retail unit sales momentum in 2019:
However, new freshwater fishing boat sales—a high-volume category—are estimated to be down 7 percent to 69,000 units in 2019.
U.S. boat manufacturers and dealers are gearing up for the winter boat show season around the country, an important marketing venue where manufacturers introduce their latest products and consumers come to buy. Based on association estimates, boat shows can generate 50 percent or more of annual sales for exhibiting dealers and manufacturers.
Shoppers at a boat show can expect to find some of the best deals of the year with the added convenience of comparing different boat models, and different dealers, in one location.
U.S. Recreational Boating by the Numbers
Additional statistics on the industry’s size, makeup and demographics include:
1. Florida: $3.2 billion, up 8 percent from 2017
2. Texas: $1.8 billion, up 9 percent from 2017
3. Michigan: $1.1 billion, up 10 percent from 2017
4. North Carolina: $914 million, up 9 percent from 2017
5. Minnesota: $861 million, up 6 percent from 2017
6. Wisconsin: $781 million, up 9 percent from 2017
7. New York: $775 million, up 5 percent from 2017
8. California: $765 million, up 6 percent from 2017
9. Georgia: $680 million, up 8 percent from 2017
10. South Carolina: $661 million, up 4 percent from 2017
About NMMA: The National Marine Manufacturers Association (NMMA) is the leading trade organization for the North American recreational boating industry. NMMA member companies produce more than 80 percent of the boats, engines, trailers, marine accessories and gear used by millions of boaters in North America. The association serves its members and their sales and service networks by improving the business environment for recreational boating including providing domestic and international sales and marketing opportunities, reducing unnecessary government regulation, decreasing the cost of doing business, and helping grow boating participation. As the largest producer of boat and sport shows in the U.S., NMMA connects the recreational boating industry with the boating consumer year-round. Learn more at www.nmma.org and get engaged with us on Twitter and LinkedIn.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200107005153/en/
CONTACT: Media Contact:
National Marine Manufacturers Association
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: FISHING OTHER CONSUMER POWERBOATING SAILING WATER SKIING OTHER SPORTS LUXURY YACHTING TRANSPORT MARITIME TRAVEL VACATION GENERAL SPORTS MANUFACTURING OTHER MANUFACTURING RETAIL OTHER RETAIL CONSUMER SPORTS MEN
SOURCE: National Marine Manufacturers Association
Copyright Business Wire 2020.
PUB: 01/07/2020 08:00 AM/DISC: 01/07/2020 08:01 AM