US boat sales cruise to 13-year high amid coronavirus pandemic
US boat and marine product sales totaled approximately $47B in 2020, according to the National Marine Manufacturers Association
Boat purchases are booming in America amid the coronavirus pandemic, with 2020 sales reaching a 13-year high, according to the National Marine Manufacturers Association (NMMA).
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Boating has been part of a renewed interest in outdoor recreation as many Americans were locked down due to the coronavirus in 2020. FOX Business' Webster spoke with the sales director at Palm Beach International Boat Show about the reasons behind the popularity spike.
“It's proven to be one of the safest and most funniest things to do during the pandemic for families,” Dean Fillichio said. “A family can go out on their boat and enjoy a day, a weekend, you know, an entire week. It really all depends on what they want to do.”
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Luxury yachts at sunset. (iStock)
NMMA statistics show boat and marine product sales totaled approximately $47 billion last year and more than 310,000 new powerboats were sold.
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Webster joined "Varney & Co." host Stuart Varney from a boat called X95 Princess, which is going for $13.9 million.
The approximately 800 marine products at the show range from $10,000 all the way up to $70 million, according to Fillichio.
FOX Business' Ashley Webster contributed to this report.