2022 price increase for Q4 build slots just hit

[trip33]

I hate to be the bearer of bad news but my dealer just informed me that there will be a 10% price increase on Q4 build spots (letter attached). I unintentionally found out about a Q4 slot that someone had cancelled and decided to jump on a new P23 with targeted delivery around April per the sales rep. We agreed on options and pricing, and I was literally finalizing the colors and called the rep this morning with some questions and that is when he told me about the increase. He said they will be contacting anyone with a Q4 slot to inform them of the upcharge.

He did not know what the 10% increase would be calculated off of (MSRP, base price, options??) but that the owner would be holding a meeting early next week to discuss and to see if the dealership would be absorbing any of the cost.

I know this is becoming the new norm based on current supply issues and I have read some of the other posts on here about people with longstanding relationships with their dealers having similar experiences. I am curious who else is in this same situation with a Q4 slot and what specifically is your dealership willing to do to offset this if anything?

Looking forward to these comments......

[greggmck]

I would also expect this will increase the prices of used boats too. Keep that in mind if you are selling or trading in a used boat....

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[gary s]

I'm more surprised they are waiting til the 4th quarter when inflation rose 7% in December alone. We are just starting this ride- hang on

[GMLIII]

I agree with gary s . I would think they would have raised the prices by 10% in the first quarter of 2022 vs fourth

[bturner]

Greg makes a great point on used boats. I commented before about not knowing how to price or tell what a fair price is these days. With new boats going up 10% and the discounts disappearing I dare say the used boat market is probably going to be closer to 15% higher. The question I'm stuck with is that I couldn't tell you what the fair price was on used boats before these latest hikes on new boats.

[Cpan13]

Glad I picked up my 2021 when I did. Can’t say I’m surprised by the price increases but they’d still be a hard pill to swallow.

[greggmck]

I have not been overly concerned about these frequent price increases because they have translated into the price of used boats. In Washington we have a roughly 10% sales tax on the FULL purchase price of any boat or car. So it becomes very difficult to sell a boat outright and recover that 10% sales tax over the trade in value offered by my dealer. Since we get a boat about every two years I trade my boat in for a new one and pay about 12% of the purchase price of my old boat for the new boat (assuming same type of boat with equivalent options. I also take meticulous care of my boats too.) I have done this since 2014 even with the frequent price increases. But I totally get that a first time buyer will have a pretty steep hill to climb to purchase a new Nautique and with each increase that hill just gets steeper ...

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[bturner]

Same goes for used boats. You used to be able to get into a very nice 10 - 15 year old wake boat for $25K - $40K or ski boat for $20K - $30K. Not seeing much of that anymore. Prices are up roughly $10K across the board from where they were pre covid. Heck I was offered $15K more that what I paid for my 2016 boat in 2019 and from what I'm seeing that's probably on the low side of what I could sell it for if I advertised it. All this said the market has a way of leveling everything out. Prices will eventually slow sales and prices, while they may not go down will level out and adjust. Being older I've seen this at least 3 times in my boating life. 2008 comes to mind and was a windfall for anyone with cash that still had a job and money to spend. Unfortunately I get this feeling we're probably going to see another time like that again soon.

[mgs917]

I'm more surprised they are waiting til the 4th quarter when inflation rose 7% in December alone. We are just starting this ride- hang on

I think it has to do with model year. I was looking to order a boat this past fall and the dealer was telling me quarter 3. I thought that was a long time, but he explained that q3 was a spring build and delivery. I think for boat model years Nautique does July-sept (q1) oct-dec (q2), jan -mar (q3), and apr-jun (q4). Something around these dates. I am sure someone with more knowledge could clarify, but the price increase may be starting around march 2022, which is the beginning of 2022 model year 4th quarter.

I know skiers choice (moomba and supra) posted on their website all boats built after feb1, 2022 will have a similar price increase.

[Cosurfer]

I put a deposit/order in early October with an estimated delivery of Mar/Apr for a G23. The boat show was this past weekend and I heard rumors about the 10% increase. I asked my dealer at the boat show and he said my price is protected. From what I understand the 10% price increase is going into effect this week for boat orders but that is just what I heard through the grape vine not directly from the dealer.

[mintmonkey]

Does anyone know if this price applies to boats that have already been ordered but haven't been built yet? We put down a deposit on a 2022 in September for delivery in April. Is the price Nautique gave me then protected?

[teamolson]

You should be good. I ordered mine in September as well and was protected from any increase. My boat delivered this past week. Also, is you were going to be subject to it I think you’d have heard from your dealer already? Hope it works out for you.

[mintmonkey]

Update. Sounds like my dealer is going to stick me with the full 10% increase. Not sure if they are just trying to increase their margins since they have sold through most of their build slots for the rest of this year or if it is coming from Nautique. Haven't decided what to do yet but definitely frustrating to get this slapped on you when you already agreed to a price and made a deposit. Leaves a bitter taste for sure and will definitely look at other brands on my next boat.

[tmb]

Ugh. I don’t understand how that is justifiable or legal.

[JSnipes]

Ugh. I don’t understand how that is justifiable or legal.

Guess it depends on the wording of the sales contract, but I’d have a hard time signing one that didn’t protect the “deal” that was being signed. I’m in sales myself and we would honor our contract with our customer … may make up the difference on the next one but would not renege on a signed contract. To me, that’s quite short sighted and you know what karma is …