CHICAGO – Registrations for new powerboats fell 3 percent in the third quarter of 2007 and 7 percent year-to-date through September, according to a recent report compiled by the National Marine Manufacturers Association, NMMA reported yesterday.
A total of 352,418 new powerboats were registered in the U.S. for the rolling 12-month period through September 2007. Jet drive boats were the only segment to see growth, with registrations up 9 percent on a rolling 12-month basis through the third quarter of last year.
Wholesale shipment data collected from NMMA’s control group of boat manufacturers representing 77 percent of the U.S. market indicates traditional powerboat shipments declined at twice the rate of new powerboat registrations, down 14 percent YTD through September in terms of unit volume and 12 percent in terms of wholesale dollars.
While double-digit declines may seem daunting, NMMA president Thom Dammrich explains inventory reductions may instead be positioning the industry for growth in the latter half of this year.
“With wholesale unit shipments down twice as much as retail unit sales, indications are field inventory is returning to very manageable levels industry-wide, putting the industry in a good position for a rebound in sales later in 2008,” Dammrich explains.
For more information about NMMA’s Q3 boat registration figures or the September 2007 MSR, contact NMMA market research manager Vicky Yu at (312) 946-6202; firstname.lastname@example.org.
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