Marine 2024 Year End Market Insights

MARINE MARKET INDUSTRY OVERVIEW

Wrapping up 2024, the year had its challenges with high interest rates, political uncertainty, and elevated inventory levels. Values showed a seasonal decrease for the winter months.

Looking at individual segments, the most recent 10 model years of used outboard boat values brought 3.2% less money in the November-December period than September-October and 2.5% more year-over-year. Stern drives brought 4.6% less in the November-December period than September-December and 3.8% less year-over-year. Inboards brought 3.3% less in the November-December period than September-October, and 7.2% less year-over-year. Personal watercraft brought 2.6% less in the November-December period than September-October, and .25% less year-over-year

Dealers are increasing discounts to help with high inventory levels. Moving into 2025, dealers are optimistic for the upcoming selling season and overall economic stability.