NMMA Monthly Report Shows Decline in Powerboat Sales

The National Marine Manufacturers Association (NMMA) released its Monthly Data Insight Report, providing the latest in-depth analysis of recreational boating powerboat unit sales and key economic indicators. The data in the report is provided directly from NMMA member manufacturers to NMMA and from state governments in partnership with Info-Link as part of states’ new boat registration data. The NMMA Business Intelligence team analyzes the data into monthly snapshots and as such, these reports reflect the timeliest comprehensive wholesale and retail analysis in the market through November 2024. The report includes economic data from the same time to demonstrate what was happening in the market at the time the sales occurred. The report spans a rolling 12-month period.

• Retail sales of new powerboats declined by -9.4% year-over-year, underscoring the impact of ongoing economic pressures and shifting consumer confidence that often comes in a presidential election year.
• In November 2024, gas prices fell by $0.09, bringing the national average to $3.05 per gallon. This slight dip followed a period of rising prices, offering some relief.
• Wholesale shipments were below retail sales for the first time in several years, signaling a normalization of retailer inventory levels.

When evaluating the data from November and looking at early indicators through January there have been numerous fluctuations with economic indicators, including consumer optimism being pulled back. From November through January, the Consumer Confidence Index (CCI) fell from 111.7 to 104.1, a 7.6-point decline. Additionally, on a six-month moving average basis, purchasing plans for large ticket items, like homes and cars, remain flat.

Each monthly report is available on nmma.org the first week of the month. Note that the reports feature the most up-to-date data available. The report includes data reporting from members on the wholesale side and from state government on new boat registrations and is the most recent comprehensive look into the market available.

NMMA’s Recreational Boating Industry Monthly Data Report is available at no cost for members. Associate members can purchase an annual subscription for $1,800.

Download the February report here

Bookmark  https://www.nmma.org/statistics/publications/industry-data-summary for direct and easy access. Visit www.nmma.org/statistics or contact bi@nmma.org for more information.