Why jet skis have become a hit with Brazilians buying boats through consortiums

Bloomberg Línea shows how consortium plans have gained ground in boat purchases, especially jet skis, after the import tariff on these personal watercraft was cut to zero in 2022, attracting Ademicon, XP, Bradesco and Porto. Ricardo Jacomassi, partner and chief economist at TCP Partners, said consortiums serve as the upper middle class's entry point into boating, while the super-rich use holding companies to buy luxury vessels. The article also cites a TCP study showing record sales after the pandemic; in Brazil, 69% of output is outboard motorboats and 6% jet skis, and the country accounts for about 1% of world production.