When the recession struck, the tide turned for the recreational boat industry. Sales plunged 55 percent from pre-recession levels to a record low in 2010. Buyers grew more price conscious and turned to the pre-owned boat market in search of deals. Sales have been strong in the value end of the market, although recovery has been spotty throughout, industry players say.
With the boat industry cautiously steering towards recovery, the distress sales and pre-owned boats that flooded the market during the last two years are drying up. Yet buyers can take heart: With the industry forced to trim costs and woo a more value-conscious consumer, there’s a boat for every budget.
By Dawn Lim
Posted April 12, 2011