According to the National Marine Manufacturers Association (NMMA) December Monthly Shipment Report, wholesale shipments of new powerboats during December gained momentum compared to November to close out 2020 down 15% for the year compared to 2019.
The report notes that manufacturing of personal watercraft, outboard boats, jet boats and sterndrive boats ramped up in December, boosting powerboat wholesale shipments up 17% compared to November. However, current inventory levels are tracking 20%-60% below normal levels.
“Boat builders are shipping approximately 20,000 new boats monthly and operating at 13% above normal levels to restock anemic inventories ahead of peak selling season,” says Vicky Yu, NMMA’s Director of Business Intelligence, on the NMMA website. “Continued supply chain disruption and workforce issues, combined with an average order backlog of up to six months, will challenge manufacturers to keep up with new orders through at least 2021.”
ITR Economics’ January 2021 forecast on boat building production is also available on NMMA.org. The latest report projects that by the end of 2021, boat production in the U.S. will steadily rebound through 2021 and remain at near 2019 production levels through 2023.