Industry Overview
Marine Market Update
Taking a look back at 2017, the boating industry remained healthy
with steady growth. Sales of new boats were strong, driven by very mild
price increases, innovative products, positive consumer confidence, and
a tight supply of used boats. Used boat values started out the year on
solid footing and maintained strength through the end of the year. In fact,
each of our four segments had the strongest fourth quarter in four years.
Page views also saw very healthy activity.
Looking at individual segments, outboards had a very strong year,
showing an 8.6% increase in values year-over-year. Stern drive values
were more stable than in recent years, with no summer-season bump,
but steady pricing throughout the year. This segment’s average values
were 1.8% higher year-over-year. Inboards also started out more
gradually than previous years, but maintained value and finished strong
to come in 6.7% higher than 2016. Personal watercraft didn’t see a
strong early-summer bump like in 2014 and 2015, but a very positive
fourth quarter resulted in year-average values 3.2% higher than 2016.
Looking ahead, boat builders are the busiest they’ve been in years.
Consumer-focused economic measures are trending upwards, and the
new tax code should encourage demand. Boat dealers can expect a
healthy market in 2018.
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