A shortage of boats exists
The marine industry as a whole is also trying to balance the COVID-related factory shutdowns and increased sales. In fact, the slow re-start of plants has caused a situation where high demand has been soaking up much of the existing supply. Boat dealers were surveyed for a Pulse Report in September. According to Trade Only today, a marine industry organization, that survey found, “82 percent said new-boat inventory was too low”. In fact, some dealers acknowledged that they had actually lost sales due to a lack of inventory.
Used boat sales have also seen buyers en masse this year. The same Pulse report went on to say that “used inventory also remained near record lows, with 89 percent of retailers saying it was too lean” and quoted one boat dealer saying, “Never seen an inventory situation like we are experiencing in 30 years of sales.”
People are buying almost any marine vessel
In a nutshell, people are buying almost any marine vessel. It doesn’t matter if it is new or used. Consumers want their boating adventures to break up their lockdown. Also, marine-related factories are getting back up to speed but have to clear up a backlog of orders that stacked up during the regional pandemic lockdowns. So, while demand is high, the supply chain is catching up. This means that it is a good time to be a manufacturer but a hard time for those that are looking to buy a specific boat as its availability may be questionable. Either way, sales are up.
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