The National Marine Manufacturers Association (NMMA) reports that August was another strong month for new boat manufacturing activity. While wholesale shipments of new power boats tempered following three consecutive months of growth, August had the fourth highest single-month total of new boat wholesale shipments in a decade, according to its latest Monthly Shipment Report (MSR).
“We saw a slowdown in wholesale shipments of new power boats in August, mainly reflecting the continued pandemic-related supply chain constraints boat builders are facing on marine parts to fulfill boat order backlogs and the surge in new boat orders,” noted Vicky Yu, NMMA director of business intelligence. “Despite supply chain disruptions, manufacturing production has returned to near normal levels, and we expect shipments to rebound as supply deliveries come in.”
Highlights from the August MSR include:
- New wholesale boat shipments in August moderated and were down 19% on a seasonally-adjusted basis compared to a strong July, with decreases in production across all categories except sterndrive boats.
- Year to date, new boat shipments are down 10% through August.