FOX VALLEY (NBC 26) — Although inflation across the country is steering the price of boats and motorsport vehicles, there are still ways people can save so they're not anchored to high prices.
Demand for boats and motorsport vehicles is outpacing supply as more people look to cruise the trails or water.
"It's not just one thing that's holding the show up. It's a lot of little things," said Jay Vanderloop, Ken's Sports owner & sales manager.
Immediate availability for motorsport vehicles can be hard to come by with supply chain issues and cost increases for gas and shipping. Components like tires, plastics and racks are stuck on rollout, forcing dealers to wait weeks, even months, to get product.
"Almost weekly, some manufacturer has a price increase or a surcharge," Vanderloop said. “And it doesn’t matter if it’s a major unit, like an ATV or a motorcycle. It’s also jackets, bibs, helmets. Those have gone up as well. So it’s a little bit of everything.”
Depending on the manufacturer, Vanderloop said those costs have increased between 2% and 10%.
"We see it getting worse before it gets better on the power sports side," Vanderloop said. "On the marine side, things are starting to get a little bit better."
Vanderloop said the dealership's current supply of marine lines is steady. He said pontoon, fishing and pleasure boots are selling well.
There are around 60 boats on display in the showroom and upwards of 200 new and used boats in stock. But in about five months, Vandeloop said that supply will be depleted.
It's a similar story at Sport-O-Motive in Appleton.
Quinn Nofzinger, Sport-O-Motive owner, said sales are up 25% as demand remains high and product coasts off the showroom floor.
"There's such a huge demand. It's been a struggle getting inventory," Nofzinger said. "As we get closer to summer, I fully expect all these boats will be sold out."
There are about 30 boats in stock at Sport-O-Motive. Nofzinger said the inventory they have now is all 2022 models arrived from last year's order. With it taking longer to receive product, Nofzinger said it'll be difficult to replace some models once they sell out.
So what can you do to save your hard earned cash? Like used cars, used boats are selling for more than normal.
"A lot of people are selling these products what they may have paid for them two or three years ago," Nofzinger said.
Vanderloop said people should do extra research on pre-owned products.
"Sometimes that pre-owned stuff, for not much more money you can look at new if it's available," Vanderloop said.
Maintaining a current ride is also an option. Both Ken's Sports and Sport-O-Motive have a service department seeing lots of business right now.
Vanderloop said the cost of parts has increased between 5% and 8%, which means a $300 repair job might cost $320 now.
Despite higher prices, boat sales are up nationwide. The National Marine Manufacturers Association reports new powerboat retail unit sales are expected to be over 300,000 units for the second consecutive year. An estimated 1.1 million used boats were sold in 2021.
"We don't expect that inflation will have a significant impact on boat sales this year," said John-Michael Donahue, National Marine Manufacturers Association vice president of North American public affairs. "We continue to see increased consumer spending, stable wage growth and positive consumer sentiment. Those are really strong indicators for our industry historically."
The NMMA projects 2022 sales will surpass last year's by as much as 3%.
