Mixed economic signals translate to continued decline in new boat sales, NMMA reports 

The National Marine Manufacturers Association (NMMA) has reported ongoing weakness in new boat sales through June 2025, as increased borrowing costs and broader economic uncertainty continue to curb consumer demand. 

According to the trade association representing boat, marine engine, and accessory manufacturers in North America, NMMA’s latest Monthly Recreational Boating Industry Data Summary, retail unit sales of new powerboats fell 9.7 per cent year-to-date compared to the same six-month period in 2024, with 130,956 units sold. Total sales also declined 7.3 per cent to 220,662 units in the rolling 12-month period from July 2024 through to June 2025. 

The December 2024 report had already highlighted a 9.1 per cent decline, indicating that sales softness had persisted throughout the first half of the year. 

Decline was evident across most major segments. Pontoons, jet boats, wake sport boats, and stern drives all witnessed double-digit decreases, while yachts were the only category to record an increase, a 1.8 per cent growth over the same period. 

The broader economic environment offered mixed signals in June. The Consumer Confidence Index registered 95.2, with the Expectations Index remaining below the 80-point threshold that typically suggests weaker outlooks. Inflation held steady at 2.7 per cent, and 30-year mortgage rates remained at 6.8 per cent. 

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These figures continue to weigh on demand for high-value, optional items such as boats. With borrowing costs high and housing-related expenses increasing, many consumers are exercising more caution with purchasing decisions. 

NMMA emphasised the importance for members to track shifting consumer behaviours as we enter the latter months of the year. To support this, the Association highlighted upcoming research being carried out with Ipsos and the Marine Retailers Association of the Americas (MRAA) through the Market Expansion Advisory Group. 

Findings from this study will be shared across NMMA and MRAA memberships, and hope to provide a deeper understanding of today’s boating consumer and the factors determining future ownership. 

The full NMMA report can be found here.

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