Boat dealers in B.C. last year reported seeing record breaking sales for boats despite COVID-19 restrictions and the border being closed for non-essential travel purposes.
Last year had been the busiest time for boat dealers and it meant that some were quickly running low on their boat supply. Instead of going away on all inclusive vacations, some families were using that saved amount to put toward a new boat, according to one boat dealer.
Boats last year were being sold at a variety of price points.
Boats are being sold anywhere from below $10k to more than $100k. There are also many other costs to consider aside from the cost of the boat alone, such as fuel and other costs.
While the sales were happy news for boat dealers there has also been a growing concern for the decreasing inventory though and the U.S. had experienced some of the same problem.
The hot demand for boats is still going and this summer might be another record breaking year. There are many lakes and other ares to explore around B.C. and that means that boats are becoming a favorite pastime and more of an appealing option to families these days.
Boats can join the list of hot items now that we have seen surge in demand last year like RVs, campers, toilet paper, sanitizer, and other goods.
Struggling To Keep Up With The Boat Demand
According to sales data that comes from the National Marine Manufacturers Association, they saw that boat sales in the U.S. last year had hit a record 13-year high.
Around Canada they have been increasing manufacturing to try and keep up with that hot demand that they have been seeing for boats of all sizes.
The trend for boat sales right now doesn’t show any signs of slowing down and it is expected to be another crazy hot year for boat sales this season.
Due to that ongoing demand now boat dealers are struggling to keep up. The supply is quickly running low and because many are first time buyers it’s anticipated that much of this buying demand might have some notable staying power.
The demand is so crazy that there are a few dealers that have already pre-sold those boats before they’re even coming in, and it isn’t clear when the supply chain might normalize.
With new owners coming into the boat market that also means that they will be looking for space to dock the boat and marinas are already running low or out of space for them.
Depending on the size of the boat it can take anywhere from 90 days to several months to finish production for a boat. Manufacturers are already struggling to keep up with the hot boat demand and until it cools it will mean some supply chain issues.
Last year many companies stopped production for some time because of the pandemic and getting back on track for the boat supply now, especially with demand having spiked, isn’t going to be an immediate fix.