Why Are Boat Motors So Expensive?
Last Updated on January 13, 2022
There are many activities in life that you can engage in for fun. You may have tried skydiving, skiing, ice skating, mountain climbing, and so many other fun activities, and you have saved boat riding for last. Purchasing a boat to have an unending feel of a boat cruise seems like a great idea but there is just one problem. Boat motors are very expensive. Now you just might be wondering why boat motors should be so expensive. Stick around and get the answer to your question.
Factors That Affect The Price Of Boat Motors.
Several factors affect the price of boat motors. Here’s a list.
- Component’s Quality
- Rate of demand and supply
- Shelf life
- Coupling outboard motors with boats is a standard measure.
- Target market
Let’s take a look at each of these factors to find out why boat motors are so expensive.
The parts (component) have been made in very high quality due to the environment the outboard motor functions in. The parts are made with materials that help the outboard motor to withstand corrosion as well as the saltwater of the sea. These components are also needed to be able to keep running at the highest revolutions per minute and for this reason, they have to be of high quality. The quality of these components calls for a high price. As you may know, high-quality products are usually expensive and when the components are expensive, the end product would equally be expensive.
Rate Of Demand And Supply
Naturally, how high or how low the demand for a product is, automatically affects the price value of the products. Because boat motors (outboard motors) are low in demand, they are usually very expensive. The manufacturers put the value of every input in the pricing to make their full profit. It is not every day people buy boats and this makes the demand for the outboard motor low and its price very high.
Due to the high quality of materials used to make the outboard motor, it can last for up to 10-20 years, if properly maintained. This means you wouldn’t be needing to replace the outboard motor anytime soon and this coupled with the quality of the motor makes it very expensive.
The boat motor has been designed to carry out some heavy-duty work like carrying heavyweight and it carries out the job excellently and the perfection at which the outboard motor carries out the job makes it even more expensive. It is way better than the ordinary boat motors in that you would not be replacing or fixing them for a long time to come, unlike the other engine types.
Coupling outboard motors with boats is a standard measure.
The outboard motors come with the boats, allowing the manufacturers to place a high (but reasonably high) price on the outboard motors. This coupling of the boat and outboard motor is a standard and this gives the buyer no choice but to purchase the outboard motor too.
Usually, it is only the rich class that can conveniently afford a boat. The price can be conveniently raised in favor of the manufacturer because the rich would not bat an eyelid to purchase two boat motors. The target market is usually the rich who can afford it without flinching.
This usually involves the resources put into the production of the boat motors. The manufacturers charge for the research work carried out and the development and advancements achieved during the making of the motor. This activity (research) takes a lot of time, and as the saying goes, time is money. Charging for research and development helps with continuity purposes and so these charges are added to the price of the motors for further advancement.
Would It Be Profitable To Buy A Boat Motor?
Considering the quality of the materials used to build them, it is worth your while and money. Ordinary engines do not measure up to the outboard motors, in that they do not last for as long as an outboard motor would. With an ordinary motor or engine, you would have to change it or fix it as time goes on. You would not want to keep fixing or replacing your boat engine, it would eventually cost you more. You would not want to cruise in a boat that is likely to sink or get you stranded at sea at any time because of the low-quality materials used to make the components of the engine.
The boat motors are expensive due to the cost of production, demand, input, target market, performance, the monopoly of the manufacturer by coupling the boat with the outboard motor, and also the quality of the materials used. Only a few motors are sold based on the demand for them, which is very low and so manufacturers try to make their profit by fixing a high price on it, just to remain in business.
The putting together of the different parts of the motor boards requires more manpower because there are no machines for assembling the outboard motors. The process is not as automated as that of automobiles, and so the manufacturers rely greatly on manpower. The manpower has to be paid or rewarded and so this also adds to the price of the boat motors.
If boats were used like cars were, the pricing would be considerably lower because the manufacturer would be able to make their profit over time, producing more boats based on demand.
It has been established that when there is more demand for a product, the sales of the large quantity results in more profit and this also means the manufacturer gets to produce more of the product at a less price, using the input he has generated back from it. This also goes for boat motors. The more the demand, the cheaper the product.