NMMA confirms 9% decline in 2024 new boat retail sales
by National Marine Manufacturers Association 11 Mar 11:27 NZDT
Monthly Recreational Boating Industry Data Summary report © National Marine Manufacturers Association
Amid last week's news on tariffs and the subsequent potential economic and industry impacts, NMMA has released its Monthly Recreational Boating Industry Data Summary report, offering a comprehensive analysis of recreational boating powerboat unit sales and key economic indicators through December 2024. While these monthly NMMA reports cover a rolling 12-month period, this latest version for December offers a full look at calendar year 2024, confirming estimates for retail and wholesale sales declines.
Released monthly, the report is based on data from NMMA member manufacturers and state governments in partnership with Info-Link and provide the most timely and detailed wholesale and retail analysis available in the market.
Key findings from the December 2024 report include:
- Declining Retail Sales: From January to December 2024, new powerboat retail unit sales fell by 9.1%, totaling 231,576 units—a significant year-over-year decline influenced by economic pressures and fluctuating consumer confidence.
- Growth in Single-Family Construction: Despite elevated mortgage rates and tight lending standards for construction and development loans, new single-family construction ended 2024 on a strong note. As the new year progresses, the construction industry is seeing an easing in the regulatory environment and tax cuts as tailwinds and tariffs and higher deficits as dampening momentum. NMMA monitors single-family housing starts given correlations to boat buying consumers.
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