Industry News

Boat Sales Up in October: What it Means for the Industry

Whether you currently own a boat or are considering buying a used boat in San Diego, you’ll be interested to know boat fanciers of all shapes and sizes are more confident in the economy’s health. Boat brokers are reporting an upswing of nearly 10 percent in larger boat purchases in October compared to just a year ago. Overall pleasure craft sales are running just about the same as last year’s sales. This is a continuing trend in the recreational boat arena, according to the National Marine Manufacturers Association.

Buying large and small

NMMA reported a similar 10 percent increase in power boat sales in 2012 and 2013. But YachtWorld members are reporting the increased October sales focused on larger boats, those over 36 feet in length. The overall boat industry sales for October remained stable compared to last year. Pleasure boat sales usually see an increase in January and February as a result of boat and RV shows, which prove to be a strong sales venue.

Growing appeal

In addition to the recovering economy, lowering fuel prices and other factors contribute to the increased sales. Other positive trends include the desire to upgrade to larger boats or cash in on the continual advancements in boating technology. Boat owners are looking for newer, better things from the industry and are having their needs met. Upgrading to a bigger boat or newer technology puts more toys in the water, feeding the outdoor recreation industry that already pumps an estimated $646 billion annually into the economy, according to NMMA.

Meeting needs

The increase in numbers also suggests the industry is creating more versatile boats in all categories to meet growing customer needs. Being able to use a boat for skiing and play, entertaining, and travel and leisure makes boat owners feel like they are getting more for their money, and, in turn, helps increase boat ownership.

The boost in October boat sales bodes well for the boating industry as a whole for the rest of 2014 and into the coming year. If you’ve been considering boat ownership, let the experts at Ballast Point Yachts, Inc. help. Check out our current boat inventory, and give us a call at (619) 222-3620 to speak with an expert boat broker.