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Record boat sales in May

July 22nd, 2020 / By: / Industry News, Marine, News

The National Marine Manufacturers Association (NMMA) reports new boat sales rebounded sharply in May, up 59% compared to April and up 9% from pre-pandemic levels on a seasonally-adjusted basis. Total sales in May were the highest they’ve been in a decade with upticks across all segments. Leading the growth were personal watercraft (PWCs), saltwater fishing boats and jet boats, which account for 41% of new boat sales annually. Also noteworthy, outboard engine shipments to boat builders increased for the second consecutive month through June.

“The last time we saw such strong sales in a single month was back in 2007,” said Vicky Yu, NMMA director of business intelligence. “This strong rebound underscores a heightened interest in boating as a way to enjoy the summer with loved ones while staying close to home, especially as summer camps, sports leagues and vacations have been cancelled amid the pandemic.”

Furthermore, June data coming in indicates this momentum to continue with healthy sales of new PWCs again in June and increases in outboard engine shipments for the second consecutive month.

Highlights from the latest New Powerboat Registrations report and Monthly Shipment Report:

  • PWC sales reached record monthly highs for the second consecutive month in June, up 41% from a year ago, on a seasonally-adjusted basis and have fully recovered from pandemic-related losses in March and April.
  • Saltwater fishing boat sales were up 9% in May on a seasonally-adjusted basis, compared to a year ago.
  • Jet boat sales were up 31% in May on a seasonally-adjusted basis, compared to a year ago.
  • Outboard engine sales in June were up an average 28% from pre-pandemic levels on a seasonally-adjusted monthly basis.

For more information, visit www.nmma.org.