About the boat sales new in North America, but also in Europe (June & July 2024)

About the boat sales new in North America, but also in Europe (June 2024 & July 2024)

What’s on the horizon or crystallizing for 2024.

This article refers to the first quarter of 2024.

A 2nd article has been written for the 2nd quarter of 2024, click here for direct access from our ItaYachtsCanada.com website.

The biggest groups manufacturing new boats and listed on the stock exchange are taking it in turns to announce their results for the first quarter of 2025, and it’s not looking good compared with previous years (the first quarter of 2024).

Indeed, Groupe Beneteau, Groupe Brunswick, Groupe BRP (Bombardier Produits Récréatifs), Mastercraft, Malibu, Chris-Craft, Barletta and even Yamaha are all down, and some very sharply.

N.B. To see these full articles on the subject, click here and here.

Why are results so low?

Inventories are at their highest at dealerships, so there are few or no orders for new models in stock. It’s only natural for dealers to do this, i.e. to reduce orders for new boats. Interest costs have been at their highest for years, and it’s expensive to have a lot of unsold inventory.

The reason:

Boaters are having difficulty obtaining financing from financial institutions. Boat loan policies have been tightened.

This mainly affects new boats, but also used boats. Prices for new boats are still very high, but prices for used boats are falling sharply.

The pre-owned market in the USA is showing very significant signs of price decline, much more so than in Canada.

If you do your homework, even with a not-so-favorable exchange rate, buying in the U.S. can often be advantageous.

Buying in Quebec avoids taxes, but not if you buy in another province, including Ontario. If you’re buying from an individual, you won’t be taxed at the time of purchase, but when you apply for registration. There’s no escaping it.

So GST and QST are payable whether you’re looking to buy in the U.S. or Ontario.

At www.ItaYachtsCanada.com and its www.ProprioBateau.ca division, we are familiar with, not to say specialized in, acquisitions outside Canada.

Also, if a buyer comes to us looking to purchase a boat in Canada, it couldn’t be simpler. So if your boat is advertised with us in brokerage mode, it’s highly visible to all Americans with our presence on :

– Yachtworld.com
– Boats.com

Websites such as ProprioBateau (which we own) and BoatDealers are mainly for Canadian customers, and it’s possible to advertise your boat on these two sites with our commission-free package.

So, given the market, if you want to sell, you need to ensure that your boat gets maximum visibility on the best-performing websites.

We have three brokers in the office to answer your questions and do our utmost to sell your boat, or to find you the ideal boat based on your criteria and needs, at the best price.

We take care of every step, so you can be sure of an excellent transaction.

In the purchase mode, our fees are paid by the seller, in the same way as for real estate, so there’s no cost to you. You pay the costs of inspections and title checks.

What’s more, we’ll be there with you during the survey and seatrial.

Don’t forget that an offer to purchase should always be to the buyer’s advantage, so there are no surprises with our approach. The documents are very clear on this subject.

Eric Gaudette, Michelle Mant and Guy Bolduc are available for discussions.

Major builder groups :

Groupe Beneteau :

– Beneteau
– Jeanneau
– Prestige Yachts
– Lagoon
– Four Winns
– Scarab
– Wellcraft

BRUNSWICK GROUP :

– Mercury (outboard motor)
– Mercruiser (inboard motor)
– Sea Ray
– Boston Whaler
– Princecraft
– Bayliner
– Lund
– Harris
– Navan
– Crestliner
– Simrad (navigation electronics)