The latest Monthly Shipment Report (MSR) from the National Marine Manufacturers Association (NMMA) shows new boat manufacturing activity in September, pulled back for the second consecutive month following a summer of elevated growth. However, says Vicky Yu, NMMA’s director of business intelligence, shipments are likely to rebound as new parts are delivered to fulfill the demand for new boats.
“While September saw slowdowns in wholesale boat shipments, more than 90,000 boats—up 4% year over year—were built and shipped July through September,” Yu notes. “This led to lower supply inventories that constrained further output. We expect shipments will pick up as supplies are replenished, which reflects initial data coming in for October, showing an easing of supply chain constraints. This is encouraging news, as manufacturers are working to meet the influx of new orders for boats in response to the heightened demand and interest in boating.”
Highlights from the September MSR include:
- New boat manufacturing activity in September pulled back for the second consecutive month, tracking at near normal levels compared to 2019.
- Year to date, new boat shipments are down 13% through September on a seasonally adjusted basis.