The NMMA reports new boat manufacturing activity in November was up 3% year over year, and down 18% compared to October on a seasonally-adjusted basis, according to the November Monthly Shipment Report (MSR).
While wholesale boat shipments slowed in November, this was primarily driven by a pullback in shipments in personal watercraft (PWC) following a summer of elevated growth. Other boat categories saw upticks in wholesale shipments, and the NMMA expects total shipments in 2020 will be at 92% of 2019 totals.
“November’s slowdown in wholesale boat shipments primarily reflected drags in the high volume PWC category. PWCs aside, shipments overall were relatively unchanged from October, and we expect to see more than 211,000 boats built and shipped in 2020,” noted Vicky Yu, NMMA director of business intelligence. “While wholesale shipments remain constrained from supply chain and workforce issues stemming from the global pandemic, boat manufacturing is returning to normal as builders and dealers work together to replenish stock and maintain healthy inventory pipelines to meet a continued, heightened demand for boating this season.”
Highlights from the November MSR include:
- November saw growth in wholesale shipments of 6% in wake sport boats, 23% in jet boats and 1% in sterndrive boats, compared to October.
- There was a slowdown in wholesale shipments of outboard boats in November, down 3% compared to October.