New and pre-owned purchase composition across Dominion Marine Media’s U.S. portals
Delving more deeply into the recent findings by Dominion Marine Media and Info-Link revealed that the higher incidence of new boat buyers was also reflective of overall market trends. Looking at this information by boat type revealed that among the DMM lead base, the segments that are recovering more quickly displayed an even higher concentration of new boat buyers. For example, among DMM leads that subsequently purchased a pontoon boat, 46 percent purchased that boat new versus 54 percent pre-owned. It was a similar story in other quickly recovering segments such as ski boats (43 percent) and freshwater fishing (37 percent).
Percentage of new and pre-owned buyers by boat type
When comparing these different boat types across the wider market, the incidence of new boat buyers among DMM’s lead base is often up to twice what the market says it should be, and this is the case across nearly all boat types. For example, the market average for the proportion of new purchases in the pontoon category is around 22 percent, which compares to the 46 percent proportion of new purchases seen by DMM leads. Around 27 percent of ski boats are purchased new in the wider market (against 43 percent for DMM leads) and 23 percent of PWC boats (against 33 percent for DMM leads). With the exception of a few categories such as yachts/sail and stern where the proportions basically reflect the market, new boat purchases from DMM leads are well ahead of the market average virtually across the board.
All of this information gives DMM and Info-Link reason to expect the proportion of DMM new boat buyers will continue increasing in the years ahead as a result of stable to improving new boat sales trends, but also due to a lack of supply of late model year boats entering the pre-owned market.