State/National/WorldNews Briefs

NMMA August Report: New Powerboat Retail Sales Up 8 Percent

NATIONWIDE—New data from the National Marine Manufacturers Association shows August was another strong month for new powerboat retail sales, which were up 8 percent year to date on a seasonally-adjusted basis compared to a year ago.

NMMA’s August New Powerboat Registrations data found while new power boat retail sales slowed in August following unprecedented increases in the early summer months – total sales were down 13 percent compared to July – sales are still strong with increases across all major categories, year to date. The report also found sales of saltwater fishing boats, tow boats, cruisers and yachts each had double-digit growth ranging from 11 percent to 15 percent, compared to 2019.

“There was a slight pullback in new power boat retail sales in August compared to July, but overall sales are still very strong,” Vicky Yu, NMMA director of business intelligence said in a released statement. “All new power boat segments have recovered from any pandemic-related losses, with double-digit growth in six segments, surpassing pre-pandemic expectations. 2020 has been a banner year for new power boat retail sales, and we expect that we’ll end the year with annual boat sales reaching a 13-year high.”

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