We mentioned last quarter that “the Marine industry will be well-positioned to benefit from changes in recreational habits” assuming layoffs remained under control. Happily, that was indeed the case, and values for all segments of boats and watercraft are substantially higher than last year.
Looking at individual segments, inboards continue to impress, bringing a whopping 21.7% more value than this time last year. Stern drives also performed well, showing no seasonal decline heading into the Fall, with values 10.4% higher year-over-year. Outboards followed a similar pattern and are running 8.6% ahead of 2019. The personal watercraft segment was very healthy, with values increasing going into the fall and running 7.6% higher than last year.
The marine industry continues to benefit from customers shifting their discretionary income from vacations to other forms of entertainment. Getting out on the water with selected friends and family will continue to be a low-risk, high-fun way to spend leisure time.
|250,000 - 500,000|
|100,000 - 249,999|
|35,000 - 50,000|
|19,000 - 34,999|
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