NMMA: Boating Industry Continues to Rebound
The National Marine Manufacturers Association (NMMA) announced that as 2013 comes to a close, the U.S. recreational boating industry will continue its post-recession climb with an estimated 5% increase in new powerboat retail sales.
According to a press release, the increase comes on the heels of the industry’s 2012 rebound when new powerboat retail sales increased 10% — the industry’s first sign of recovery. In 2014, NMMA expects the recreational power boat sales will continue to grow another 5% to 7%.
What’s more, retail dollar sales of new powerboats are expected to be up 8% in 2013, signaling that the mix of boats being purchased includes higher priced boats and that Americans are investing more in boating.
“The housing market has improved, consumer confidence has steadily increased the last two years, and consumer spending is on the rise—all factors that are helping to fuel stable growth for the U.S. recreational boating industry and further sales in 2013. In addition, we’re seeing more and more Americans take to the water, as our participation numbers are at an all-time high — 88 million Americans went boating in 2012. This indicates that with experience on the water comes an interest in life on the water and the subsequent purchase of a boat,” noted Thom Dammrich, president of NMMA. “If economic growth persists and the recreational boating industry continues gaining participants, we anticipate sustained growth in 2014 and into 2015 and 2016.”
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