Mixed picture as market softens following 10-year high
The slowing of the US boating economy predicted last year is starting to show signs of realization with the National Marine Manufacturers Association’s (NMMA) preliminary June New Powerboat Registration Report. While registrations are up a modest 1.1% through June on a rolling 12-month year-over-year basis, registrations are down 1.3% on a rolling three-month year-over-year basis.
In a statement, outgoing NMMA President Thom Dammrich qualified the 2% overall decline.
“That 2% decline is coming off a 10-year high in 2018,” Dammrich said. “We’re seeing a slight softening in sales of new aluminum-hulled powerboats but demand for most categories remains healthy.”
Some of that demand includes sales of new personal watercraft and saltwater fishing boats that increased 6% each in the second quarter, but were slightly offset by a slowing in the freshwater fishing boat and pontoon boat sales.