I know the yacht market has been RED HOT for the last 2 years, but given interest rates, fuel prices, stock market and general malaise of the economy; does anyone feel that the market will cool off in the next 12 months?
Generally, sales have already appreciably declined industry-wide from their near record highs in 2020/2021, a trend that has been seen in all global markets. There have been some exceptions in the US market, like center consoles, where sales have remained robust. I suspect that both new and used sales for the better quality marques will continue to perform reasonably well. But, the industry segment that serves the more casual buyer, particularly those that prioritize value over quality, is probably in for some pain for the foreseeable future. This is a dynamic that is already being realized in the RV space. Perhaps someone that works in the industry themselves may have better insight or at least a different perspective.
I've read that manufacturers have orders reaching two years out. Sales are still up 20% over pre pandemic but down 20% from 2020-2021 pricing. If the economy continues to plummet then most everything will drop.
@Scott W - Thank you for the response. One reason I asked is because of what I have seen happen to the high-end RV market and the housing market in CA in the last month. I realize that the 'typical' yacht buyer might be more immune to economic fluctuations, but at some point most people feel at least some sort of pinch........
The housing market in California has nowhere to go but down north with the exodus of people fleeing the mess and high taxes. Same with other states. The numbers of folks and corporations moving to Texas, Florida, Tennessee is mind blowing. I read that Uhaul is having issues with too many trucks sitting in these states. as the boat market, I think that with 9.1% inflation and record high fuel prices it will have to cool off. Probably not the 70/80+ footer market but the small to medium boat sector. Earlier I came across a July 13 2017 receipt for 1071 USG at $1.99… 5 years exactly