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Boat sales booming during coronavirus

Cruises are out, but people are still looking to hit the water.

Boat dealers across the country are seeing a rising tide of sales thanks to the coronavirus. 

You have the cancellation of summer camps, vacations, as well as sports leagues, along with the combination of 50 states lifting the restrictions on boating which means demand is booming. 

"There's really no used boat inventory at all. The new boats are kicking off more and more, I think that we're seeing in the first time boaters boats from I would say 75,000 to about a 152,000 are really kicked up quite a bit."

New data from the National Marine Manufacturers Association suggests that the worst of the pandemic impacts is behind the boating industry with personal watercraft sales 75% higher in may versus last year. 

"To the end of April you know we were shutdown for almost eight weeks and we were down, our business was down almost 44%. As of yesterday we've caught all of that 44% up and we'll be slightly ahead of that yet by the end of June. And last year was a record year so this year is gonna be an even better year for us."

Boating is not a cheap endeavor with the retail price of a new aluminum boat package averaging $36,000 and a new three-person personal watercraft at $12,000.

Popular picks are powerboats as they are easier to navigate, while sailboats usually require in-depth research. 

Low fuel costs and lower interest rates are helping close deals. 

Sales have been so brisk throughout the industry inventories are getting low everywhere, 

And new trends show that some families are pooling their funds together to purchase a boat. 

As many businesses struggle throughout the coronavirus pandemic it seems the boating industry is doing more than just staying afloat. 

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