May registrations dipped 0.6% versus the main powerboat categories and 1.1% overall versus May 2018 — a somewhat pleasant surprise as the country was drenched with one of the wettest months on record.
Soundings Trade Only reported that registrations declined year-over-year on a 12-month rolling basis 3.9% in the main powerboat categories, and 2.1% overall, according to May registration data from Statistical Surveys Inc., a Michigan firm that tracks new boat registrations.
May’s preliminary data came from 26 states, representing almost 55% of the U.S. market.
May is typically the most significant month at 16% of retail, said Wells Fargo analyst Timothy Conder.
“We believe May results were generally in line [or] slightly better than expectations given continued elevated precipitation,” wrote Conder in a report, pointing out that precipitation levels year-to-date in May were near the highest on record.
Near-term pent-up U.S. demand appears satisfied, all collectively compounded by unfavorable year-to-date Midwest, Northern and Canadian weather, said Conder.
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