NMMA Publishes 2004 Pre-Owned Boat Market Study
The National Marine Manufacturers Association has published a report summarizing the results of its study of the pre-owned boat market for 2004.
The 30-page report summarizes the pre-owned market by propulsion, hull material, length and region of the country. The NMMA said it is the first study analyzing the market for pre-owned boats since 1997.
The report includes estimates for unit dollar sales, examines the purchase patterns of first-time and repeat buyers and provides a demographic profile of the pre-owned buyer as compared to the new boat buyer.
"The pre-owned study provides important demographic information that should be of great interest to the industry," said NMMA president Thom Dammrich. "Not only does it go into specific detail about who is buying pre-owned boats, but the report also provides insight into sales figures and statistics."
The study found that 71 percent of the boats changing hands in 2004 were pre-owned as compared to 63 percent in 1997, indicating a rise in consumer interest with respect to the pre-owned boat market.
NMMA said that other study findings include the following:
● more than three fourths of first-time buyers purchase a pre-owned boat,
● traditional powerboats made up 81 percent of pre-owned boats sold in 2004, and
● more than one million pre-owned boats were sold in 2004.
The report estimates that there were 463,000 first-time boat owners in 2004 boaters who had not otherwise purchased a boat since 1997 and that first-time boat buyers were four times more likely to buy a pre-owned vessel. However, as age, income and net worth increase, consumers tend to buy more new boats as opposed to pre-owned ones.
NMMA members may obtain a free copy of the study and purchase additional copies at a special member discount price of $175. Cost of a copy for non-members is $350. To order, contact Chris Keil at (312) 946-6209.