3rd Quarter Data Shows 4-Year Decline in Boat Sales

The third quarter of 2018 reveals some interesting trends.

Since 2014, the 3rd quarter sold boat report shows a decrease in global sales from Q2 to Q3. However, 2018 shows the biggest decrease in sales compared to the previous four years, with a significant drop of 33% from one quarter to the next.

As seen in the graph above, the downward trend continues when looking at the third quarter of 2017 compared to 2018, which shows the market having 992 fewer sales in the same period. In fact, the third quarter of 2018 is the smallest in sales by volume in the past five years, with Q3 2015 showing the strongest figures for total yachts sold around the world. 

One reason we believe there’s been a consistent slump in yacht sales over the last four years is due to a strong economy increasing sales activity, coupled with lower production rates by manufacturers, it has resulted in fewer yachts available to be sold. Most yacht brokers will tell you that finding good listings to sell has been a challenge. 

Taking a look at global reported sales year to date (see below graph), with a focus on the first three quarters combined since 2014, the market reveals a steady decline. From its record high in 2015, sales have continued to fall. But, again, 2018 is proving to show the most dramatic drop, with a 13 percent dip (4,464 fewer sales in total).

Encouragingly, the news is not all bad. Denison Yachting is pleased to report that sales year to date are remaining on pace with 2017, with all indicators that number of boats sold will exceed the previous year.

In spite of the downward trend, consumer confidence, particularly in the U.S., is also close to an all-time high, which may bode well for a slight recovery in sales as the industry heads into the busy Fall Boat Show Season.

If history is any indicator, the fourth quarter of the year will be telling and should result in solid sales numbers. We will be reporting on Q4 data later and taking a closer look at global yacht sales as 2018 draws to a close.