RV Business
Memorial Day weekend signals the start of the summer boating season, and the National Marine Manufacturers Association (NMMA) has reported boat sales are strong for the $35.9 billion U.S. recreational boating industry.
According to a report by Best of Boating, an estimated 238,000 new powerboats were sold in 2015, an increase of 8.5% compared to 2014. NMMA anticipates sales of new powerboats to increase in 2016 as much as 5 to 7 percent.
“New boat inventories are at historically low levels and production is on the rise, driven by an acceleration in demand for new boats,” said Thom Dammrich, NMMA president. “Summer is a heavy selling season for recreational boats, accessories and services throughout the U.S. and we anticipate sustained steady growth across most boat categories during the busiest boating months of the year.”
Demand continues to grow across nearly all powerboat segments. Outboard boat sales, which represent 85% of new traditional powerboats sold, and include pontoons, aluminum and fiberglass fishing boats, as well as small fiberglass cruising boats, were up 7.6% in 2015 to 155,800 units.
“Weather also plays a role in seasonal boat sales and we’re looking for a sunny and warm summer to further bolster boat sales and activity,” noted Dammrich. “Lower gas prices may provide a significant tailwind for recreational boating by increasing disposable income and consumer spending on recreation, encouraging boaters to get on the water this summer.”
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Originally published here.