2024 Q2 Market Insights Marine

MARINE MARKET INDUSTRY OVERVIEW
   

Traditional seasonality was evident in the Marine market going into peak season. Selling prices are for the most part lower than the previous two years, but all segments increased at the end of the 2nd quarter.

Looking at individual segments, the most recent 10 model years of used outboard boat values brought 2.6% more money in the May-June period than March-April and 4.5% less than the first half of 2023. Stern drives brought 1.0% more in the May-June period than March-April, and 13.0% less than the first half of 2023. Inboards brought 0.8% more in the May-June period than March-April, and 17.3% less than the first half of 2023. Personal watercraft brought 1.9% more in the May-June period than March-April, and 14.7% less than the first half of 2023.

Negative equity, supply, and a difficult finance environment are placing downward pressure on market conditions, but pricing is currently holding up. We will continue to track sales data and make changes as needed.