Boats at Museum Park Marina in February. Photo: Eva Marie Uzcategui/Bloomberg via Getty Imagesfrom Boats Group, the Miami-based advertising and software company for the marine industry.Comparing 2022 with pre-pandemic year 2019, 5.32% fewer boats were sold in the United States – but the average boat value was 31.28% higher.5,279 sailboats were sold last year, as were 38,630 powerboats.
The average boat value was $117,574 in 2019, peaked at $164,808 in 2021 and dropped to $154,357 in 2022."The effects of the demand and supply chain disruption during the pandemic are also still very apparent," Courtney Chalmers, vice president of marketing at Boats Group, said in a statement.Interest rates are affecting boat sales, like they are home prices.
Marine lender Trident Funding reported that loan applications rose by 80% in 2022, but more people were seeking loans for less than $100,000.
PPP and grants drying up huh?🤷🏼♂️ dang them folks made some millions 🤷🏼♂️
The government paid for most of them.
Thank god…that was a wild ride…🙄