Boat sales up in the Northwest

SEATTLE, Wash. – A study released by the University of Washington sea Grant Program indicated that boat sales are up for the second half of 2003.

According to the report, new boat sales in Washington state increased 12.8 percent over the same six-month period from a year prior. The increase was expected, according to leaders of the Northwest recreational marine industry.

“New sales figures like these confirm our region is coming out of recession and that boating is a part of the recovery,” says Northwest Marine Trade Association (NMTA) President Michael Campbell. “With interest rates at 40-year lows, the market is poised for a new wave of sales. The boat show couldn’t come at a better time for thousands of boating enthusiasts of all types, including families and Northwest residents who can’t wait to get out on the water.”

The NMTA expects this to be a promising note to kick off boat season with. The Seattle Boat Show begins today.

Among the results of the study for boat sales for the year ending December 31, 2003, the NMTA highlighted the following:

o 15- to 18-foot runabouts make up 29 percent of the new boat sales.
o The average price for a boat was $13,455.
o The average price of a new boat was $28,607
o 50 percent of all 53,112 boats sold in the state are 15- to 22-foot fiberglass runabouts
o Sales for new and used boats in calendar year 2003, topped $638 million, a sizeable increase over the $577 million for the 12 months ending June 30 2003.
o King (18.7%), Pierce (11.2%) and Snohomish (10.7%) counties are the three best-selling for the boats purchased in the state for 2003.

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