Boat Industry Finds Footing; Expects Solid 2014
Interest in boating has picked up months before the spring thaw.
The Milwaukee Journal Sentinel reported that dealerships and industry experts said the steep decline in boat sales during the recession has reversed, with business inching back to more normal levels.
New powerboat sales were up 10% in 2012, the industry’s first sign of recovery, and this year powerboat sales are expected to be up another 5% to 7%, according to the National Marine Manufacturers Association (NMMA).
“The housing market has improved, consumer confidence has steadily increased the last two years, and spending is on the rise. All of those are factors that are helping to fuel stable growth for the U.S. recreational boating industry,” Thom Dammrich, the group’s president, said in a statement.
If the economy continues to improve, boating ought to have sustained growth this year and into 2015 and 2016, according to Dammrich.
January is one of the strongest months for boat sales as manufacturers and dealerships offer incentives at shows where they hope to land early business and gauge consumer sentiment for the rest of the year. Many of those buyers will take delivery in the spring.
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