The June new boat sales numbers are in

[twocents]

As expected, new boat sales nationwide for June 2021 as compared to June 2020 are down about 34% overall. This isn't surprising since new boat inventory/availability continues to be very low at the moment. Going forward, the question is how long will it take boat and engine manuacturers to replenish the pipeline with product. Some think 60 days will do it, others predict up to six months or longer.

 

[c_land]

As expected, new boat sales nationwide for June 2021 as compared to June 2020 are down about 34% overall. This isn't surprising since new boat inventory/availability continues to be very low at the moment. Going forward, the question is how long will it take boat and engine manuacturers to replenish the pipeline with product. Some think 60 days will do it, others predict up to six months or longer.

I'd be interested to know if the demand will still be elevated as it has been. Were the decline in sales numbers because of lack of supply or less demand?

 

[J DUNN]

I think demand will drop off sharply and that trend may have already started. My feeling is that anybody who would buy a boat that may have been on the fringe, has bought it by now. The covid push or bulge of the boat and recreational vehicle buying has happened and there is not enough "want to be boat owners" left in the market, especially at current prices. I may be way off here but in my opinion, there will be a LOT of inventory available next year of new and used. I think the health of the economy will only soften (good economy) or magnify (recession) that drop in buyers/demand.

 

[just_floatin]

I think demand will drop off sharply and that trend may have already started. My feeling is that anybody who would buy a boat that may have been on the fringe, has bought it by now. The covid push or bulge of the boat and recreational vehicle buying has happened and there is not enough "want to be boat owners" left in the market, especially at current prices. I may be way off here but in my opinion, there will be a LOT of inventory available next year of new and used. I think the health of the economy will only soften (good economy) or magnify (recession) that drop in buyers/demand.

I have been on the lookout for a used toon but not willing to pay 2021 toon prices. Waiting for the dust to settle this winter to trigger out of state toon sales activity. I do not shop AZ or CA in my current search.

 

[RichL]

I think demand will drop off sharply and that trend may have already started. My feeling is that anybody who would buy a boat that may have been on the fringe, has bought it by now. The covid push or bulge of the boat and recreational vehicle buying has happened and there is not enough "want to be boat owners" left in the market, especially at current prices. I may be way off here but in my opinion, there will be a LOT of inventory available next year of new and used. I think the health of the economy will only soften (good economy) or magnify (recession) that drop in buyers/demand.

Agree

 

[twocents]

According to a nationwide dealer survey, demand (store traffic) is lighter than it was a year ago. Lack of inventory seems to be the primary reason for a decrease in sales.

 

[TCHB]

In that report I was suprised the average boater sells their boat and gets out of boating in less than 3 years.

 

[LargeOrangeFont]

In that report I was suprised the average boater sells their boat and gets out of boating in less than 3 years.

That does not surprise me at all from the average assembly line boat purchaser. That is about when maintenance items start coming due and people realize they don’t use the boat enough to justify the investment.

Custom West Coast boat buyers are different . Some of those people are waiting 18 months just to get the boat!

 

[2Driver]

In that report I was suprised the average boater sells their boat and gets out of boating in less than 3 years.

Remove 2FF’s stats from the data and it moves up to something like 6 years

 

[monkeyswrench]

This wouldn't so much effect the custom buyers, they wait for a different product, but could there be any correlation between PPP money and the production boat purchases?
There were a few business owners out here that..."came up" a bit, either in trucks or toys. My view of things is limited though, as we don't have the populace to see as much of anything really.

 

[Hydroman55]

Just sold my cat for 2x what I paid 6 years ago for this very reason, crash is coming. Holding the cash for a Pontoon that will be half today’s price.
Not to be Mr. negative but everything in life is cyclical and timing.

 

[monkeyswrench]

...everything in life is cyclical and timing.

That is the truth. The sky may not fall, but just a correction can snap things back to reality.

 

[Ace in the Hole]

In that report I was suprised the average boater sells their boat and gets out of boating in less than 3 years.

A lot of “newbs” fail to understand the actual cost of ownership...a lot of “payment” centric people think it’s like a car..buy it and the only expense is a cheap oil change etc...not the case. Add into that storage, insurance etc and it drives the basic user (non enthusiast) out... it’s much more visible places like where I’m at in TX vs Havasu etc.

 

[Ace in the Hole]

Meant to add...I see a big correction coming in the production bro dozer boats etc. within the custom market I don’t see it being hit like 08...it’s just a different circumstance. Easy financing facilitated the exponential growth of wake boats etc...once that corrects it’ll hurt that market. Much of the “powerboat” and “west coast boat” market is largely cash or business asset purchases..different ball game..and client base.

 

[LargeOrangeFont]

Meant to add...I see a big correction coming in the production bro dozer boats etc. within the custom market I don’t see it being hit like 08...it’s just a different circumstance. Easy financing facilitated the exponential growth of wake boats etc...once that corrects it’ll hurt that market. Much of the “powerboat” and “west coast boat” market is largely cash or business asset purchases..different ball game..and client base.

The assembly line stuff is gonna take the hit on medium term resale. There are simply too many of them out there... just like the traditional SXS and RV/trailer market.

 

[guest hs]

Big problem is coming. The boat manufacturers are going to fill the pipeline and the buyers are going to be gone. Dealerships will be full and paying huge floor plan money to banks. This will happen Spring of 2022