The US National Marine Manufacturers Association (NMMA) says that wholesale shipments of outboard engines were up 11.5 per cent through April on its control group of manufacturers compared to last year. Corresponding spend was up 22.2 per cent in the same period.
Also for the year ending April, unit volumes were up 5.8 per cent and spend was up 10.9 per cent. The US Trade Association also had good news, reporting a 9.6 per cent increase in boat registrations year-on-year.
As one of the largest recreational boat markets in the world, the strength and growth of the US industry is a great indication that things are looking up worldwide. As the industry is recovering after a huge dive in sales in 2008 and 2009, these figures are very good news for boat owners and in particular manufacturers, who see this as a sign of further growth and future spending.
Many industries are getting back on their feet after a tough few years in business. We can expect to see similar growth in New Zealand over the next few years as the economy and consumer spending recovers back to pre-GFC levels.