Nearly 90 percent of boat dealers responding to a survey regarding market conditions reported retail growth in June – up from 70 percent in May – the strongest reading in the survey’s six-year history.
The strong retail demand, combined with manufacturing shutdowns in the spring due to COVID-19, prompted 86 percent of the 103 respondents to characterize new boat inventory as too low, versus just 3 percent that said it was too high, according to results of the Pulse Report, a monthly survey conducted by Baird Research in conjunction with the Marine Retailers Association of the Americas and Trade Only Today.
Dealer sentiment leapt for the second month in a row; sentiment on current conditions jumped to 89 from 76 in May; and the 3- to 5-year outlook improved to 71 from 64 in May.
Dozens of dealers echoed that they couldn’t keep boats in stock.
“Everything is selling, no matter the price,” wrote one respondent in a section asking dealers to comment on what is working.
Click here to read the full story by Reagan Haynes in Trade Only Today.
Limited inventory is driving quick decisions from customers, commented one dealer.
“The virus crisis has caused a staycation boom,” wrote another. “Demand for boats went through the roof. We will sell out of boats for the first time in our history. Marketing on the internet is very important and will become even more important as we progress through our crises.”