2021 Q1 Marine Industry Market Report
Marine Market Industry Overview
The marine industry is red-hot. As we enter boating season nationwide, customers with money to spend are finding that parts shortages and factory issues are limiting the availability of new boats. These conditions have pushed boat and watercraft values to historically high levels.
Looking at individual segments, the most recent 10 model years of used outboard values averaged a whopping 20.1% more money in Q1 2021 than the same period of 2020. Stern Drives performed just as well, bringing 20.4% more money. Inboards are simply crushing any historical comparison, with this segment averaging 39.9% higher values year-over-year. Personal watercraft brought 12.0% more money in Q1.
Production constraints and a rosy economic outlook mean we are confident boat and watercraft values will remain elevated for at least a few more months. If you’re lucky enough to have inventory, profit margins should be looking strong.