Marine Vehicle Values Climb in 2020
TROY, Mich.–(BUSINESS WIRE)–In the 2020 Year-End Review Marine Market Insights, analysts from J.D. Power Specialty Valuation Services say that used marine values saw a significant increase in Q2 through Q4 due to the high demand. Many dealers say they had their best year, but it was difficult to get new or used inventory.
“Stern Drives brought 6.1% more revenue year over year, with our average value for the most recent 10 model years cresting the six-figure mark in the second half of the year,” said Lenny Sims, vice president business development and strategy at J.D. Power Specialty Valuation Services. “Inboard values really took off in 2020, finishing the year 13.5% higher than 2019. Personal watercraft increased 6.0% in value in 2020 compared with 2019.”
Major findings in the free quarterly report note:
- Marine used values continued to increase throughout winter months unlike past years
- Inboard boats saw a significant price increase in November through December 2020
- Surge in marine traffic views in May 2020
J.D. Power Specialty Valuation Services (formerly NADAguides) is a leading provider of specialty vehicle valuation products and services to businesses. The team collects and analyzes tens of thousands wholesale and retail transactions per month, and delivers a range of guidebooks, web service data, analysis and digital data solutions.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world’s leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power is headquartered in Troy, Mich., and has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.
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