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The National Marine Manufacturers Association’s New Powerboat Registrations Report was recently updated through September, and advance data show new powerboat registrations were up 4.4 percent year-over-year for the rolling 12-month period through September.
Highlights from the report include:
Nearly all segments were up through September. Growth in registrations was led by the following segments: cruisers (up 9.1 percent), tow boats (up 7.7 percent), pontoons (up 7.1 percent) and personal watercraft (up 6.4 percent).
Outboard boats, which represent 65 percent of total new powerboat sales, were up 4.2 percent in registrations.
Larger boats 27 feet and greater, were up 7.8 percent through September.
MAVERICK BOAT GROUP EXPANDING IN FT. PIERCE
Governor Rick Scott recently announced that NMMA member Maverick Boat Group would be bringing approximately 100 new jobs to Florida as part of a new facility its building in Fort Pierce. The company’s expansion will also add an estimated $7 million to the local economy.
In a press release, Scott said, “I am proud to announce that Maverick Boat Group will be opening a new manufacturing facility which will create 100 new jobs for families in St. Lucie County. By working to reduce burdensome regulations and cut taxes, like permanently eliminating the sales tax on manufacturing machinery and equipment, we are making it easier for businesses like Maverick Boat Group to invest in our state.”
Florida continues to be the top state for boating, generating an estimated $2.5 billion in retail sales of new powerboats, outboard engines, boat trailers, and aftermarket accessories in 2016, up 8.1% from 2015. What’s more, Florida is home to the upcoming Miami International Boat Show — pegged as the five biggest days in boating — Feb. 15-19, 2018. The Miami International Boat Show contributes approximately $854.2 million to the Florida economy each year and supports an estimated 6,000 full time jobs in the state.
63,000 RECREATIONAL BOATS DAMAGED BY 2 HURRICANES
Boat Owners Association of The United States (BoatUS), the nation’s largest advocacy, services and safety group for recreational boaters, estimates that more than 63,000 recreational boats were damaged or destroyed as a result of both Hurricane Harvey and Hurricane Irma, with a combined dollar damage estimate of $655 million (boats only).
These numbers are strikingly close to 2012’s Hurricane Sandy, which remains the single-largest industry loss with more than 65,000 boats damaged and more than $650 million in estimated losses.
Breaking down the 2017 season storms, Hurricane Irma damaged or destroyed 50,000 vessels with approximately $500 million in recreational boat damage. About 13,500 boats were damaged or lost costing $155 million in boat damage as the result of Hurricane Harvey.
Information from the National Marine Manufacturers Association was used in compiling this report.