Nearly half of marine manufacturers, 49 percent, say business conditions were stable in the second quarter, while 39 percent report that business is expanding.
The National Marine Manufacturers Association released its second-quarter marine CEO Sentiment Report, showing a much more upbeat perspective since the onset of the pandemic.
“Marine CEO sentiment was much more optimistic in Q2, returning to levels pre-pandemic, bolstered by record new boat sales this summer,” said Vicky Yu, director of business intelligence for NMMA, in a statement. “Production has been steadily ratcheting back up since the lockdown restrictions were lifted, and manufacturers are actively hiring or bringing back furloughed employees, working through order backlogs as operations return to normal.”
Click here to read the full report from Reagan Haynes in Trade Only Today.
More than half — 51 percent — said sales were up or on par with the same period of 2019, and 15 percent reported substantial growth in sales; 47 percent reported new orders were up compared to a year prior, reflecting strong demand for new boats.