2022 Q1 Marine Industry Market Report
As in the previous two years, the marine market saw flat pricing in the winter and early Spring months. The segments we track pulled back slightly in our most recent update but are still comfortably higher than the 4th quarter of 2021.
Looking at individual segments, the most recent 10 model years of used outboard boat values averaged 12.6% higher in the 1st quarter of 2022 compared to the previous quarter. Year-over-year, pricing this quarter is 52.0% higher than the 1st quarter of 2021. Stern drives averaged 9.3% higher values this quarter compared to the 4th quarter of 2021, and 37.1% higher than the 1st quarter of 2021.
Inboard values averaged 17.7% higher in the 1st quarter of 2022 compared to the previous quarter, and 49.3% higher than the 1st quarter of 2021. Personal watercraft brought 7.7% more money than the 4th quarter of 2021, and 22.4% more than the 1st quarter of 2021.
Spending on watercraft of all types is still strong despite greatly increased pressure on demand from gas prices, the end of individual stimulus, and general inflation. Selling prices in the warmer months will tell us more about how the customer is responding to these tougher economic conditions.