Industry trends for 2025

Some of the biggest players in the boating world are listed on the are listed on the stock exchange, so it’s possible to see where they stand, at least from a financial point of view.

As expected, they’re all mostly down, some by a little and others more significantly.

With the market still in a period of slowdown, will 2025 be any different? It’s hard to say.

There are exceptions, however, in the case of major manufacturers such as FERRETTIGROUP, SANLORENZO and AZIMUT-BENETTI, who seem to be continuing to increase their sales volumes. It has to be said that the megayacht and superyacht category is doing very well. There is no shortage of buyers for yachts from $10 million to over $300 million USD, and sales volumes have been rising for years.

The market (for sales of $10 million or less) depends to a large extent on financing conditions, and therefore on the attitude of the banks, which in turn take many factors into account (inflation, unemployment, economic growth, indebtedness, etc.).

Individuals need to be cautious when it comes to obtaining a loan, and retailers need to be cautious when it comes to financing their inventory.

Also, is the new U.S. government led by Mr. Trump going to put new tariffs on boat imports from Europe as early as January 20, 2025.

Currently, the tariff for an American buyer of a boat from Europe is 1.75%, but if it rises to more than 10%, it will significantly change the final price paid.

How will buyers and especially American dealers react to this new tariff?

This would have a major impact on the following manufacturers (not exhaustive):

Azimut Yachts

Ferretti Yachts

Pershing Yachts

Prestige Yachts

Groupe Beneteau (including Jeanneau)

Sanlorenzo

Riva Yachts

Absolute Yachts

Galeon

Saxdor

Sunreef

Lagoon

Sunseeker

Princess

Axopar

Fairline

We’ll have to see what trade agreements can be negotiated on a country-by-country basis.

Of course, it’s going to be to the advantage of American manufacturers. So major and dominant manufacturers like Cruisers Yachts, Tiara, Viking, Sea Ray, Boston Whaler, Formula to name but a few will certainly be delighted.

As for us Canadians, we still have our free-trade agreement with Europe, which exempts a boat from all tariffs.

However, we do have the infamous 10% luxury tax, which increases the sale price of boats over $250,000 CAD.

So, there are still a lot of questions for the year 2025, but this doesn’t change the used boat market, which is still very active due to falling prices, especially for near-new or very recent boats (7 years old or less).

What’s more, if the Canadian buyer keeps his boat in the U.S., he pays neither U.S. nor Canadian taxes. Contact us for full details.

So before you buy, contact us to see what opportunities are available to you, based on market conditions.

Here’s a brief overview of the companies and their revenues:

Beneteau dévoile ses résultats financiers du troisième trimestre

Le chiffre d’affaires de la division bateau de la société a baissé de 38,6 % par rapport au trimestre précédent, en raison d’un ralentissement du marché des voiliers multicoques.

Le groupe Beneteau inclut : Prestige Yachts, Jeanneau, Lagoon et autres…

MasterCraft announces first-quarter financial results

Net sales were down 30.7% on the previous period, due to lower volumes and an “unfavorable model mix”.

Yamaha reports third-quarter results

Marine Division sales down 3.7% and operating income down 5.9% on the prior-year quarter.

Cummins announces third-quarter results

The company reported sales of $8.5 billion and net income of $809 million. It maintains its full-year forecasts in a range from a 3% decline to stagnation.

Cummins today published its third-quarter financial results, with sales of $8.5 billion, stable compared with the same quarter in 2023. Sales in North America decreased by 1%, while international revenues increased by 2%.

MarineMax reports fourth-quarter and full-year results

The company reported sales of $563.1 million, down 5% on the same quarter of the previous year.

Malibu Boats reports first-quarter results

The company reported sales of $171.6 million for the period, with net sales down in all three segments.

Malibu Boats reported first-quarter net sales of $171.6 million this week, down 32.9% on the previous quarter.

For fiscal 2025, the company forecasts an increase in consolidated net sales in the low single-digit percentage range, and an adjusted EBITDA margin of between 10 and 12%.

 

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