Marine Vehicle Values Reach Historic Levels
TROY, Mich.: 06 May 2021 — In the Q1 2021 Marine Market Insights , analysts from J.D. Power Specialty Valuation Services say that used marine values will remain elevated for at least the next few months, due to production constraints for new boats and watercrafts, and customers looking to spend money as we enter boating season.
“Looking at individual segments, the most recent 10 model years of used outboard values averaged a whopping 20.1% more revenue in the first quarter of 2021 than the same period of 2020. Stern Drives performed just as well, bringing 20.4% more revenue,” said Lenny Sims, vice president business development and strategy at J.D. Power Specialty Valuation Services. “Inboards are simply crushing any historical comparison, with this segment averaging 39.9% higher values year over year. Personal watercraft brought 20% more revenue than the first quarter of 2020.”
Major findings in the free quarterly report note:
- Marine used values increased slowly but steadily in almost all segments in first quarter
- Personal watercraft values decreased slightly from January to March 2021
- Surge in marine traffic views in March 2021
J.D. Power Specialty Valuation Services (formerly NADAguides) is a leading provider of specialty vehicle valuation products and services to businesses. The team collects and analyzes tens of thousands wholesale and retail transactions per month, and delivers a range of guidebooks, web service data, analysis and digital data solutions.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power is headquartered in Troy, Mich., and has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.
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