Survey Indicates American Boating Industry Growth

Press Release
Thursday, March 28, 2013

A recent forecast indicated a 2013 growth of 8% in the American boating industry.

In light of an improving consumer outlook, more than half (51%) of marine industry survey participants said the best time to increase inventory levels is right now to be fully stocked for the spring selling season, according to results released by GE Capital, Commercial Distribution Finance (CDF).

“Overall, our data indicate sales are improving, costs are down and earnings are up at the dealer level,” said Bruce Van Wagoner, president of CDF’s marine group, a leading provider of financing to marine dealers. “We believe that 2013 will look a lot like 2012 — slow and steady growth in a smaller, healthier market.”

When asked which trend will have the largest impact on the boating industry this year, 32% of respondents pointed to the popularity of low-cost or “base” models, up from 23% last year, and 30% of respondents expect long production lead times, compared to 21% last year.

Aluminum boats, fiberglass fishing boats and recreation boats are the top three types, respectively, that the industry believes will be in demand this year.

“Low stocking levels may result in lost sales but, today, shipments are generally aligned with demand,” Van Wagoner said. “Many dealers ask for market intelligence to make better informed decisions about brand, segments and stocking levels so they can be sure to stock the products that their customer base wants to buy.”

GE Capital’s survey was conducted Feb.13-15, 2013. The respondents were a variety of marine industry participants, including manufacturers, dealers and distributors.
 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Cost to Fuel Ships Falls

For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as $1 million a year if current price level stay put. Assuming

Asia Tanker, VLCC Rates Could Climb

Charterers to release 30 Middle East VLCC cargoes next week. VLCC market buoyed by upbeat Suezmax, Aframax sectors. Rates for very large crude carriers (VLCCs)

Belgian Strike to Impact Antwerp Port

A strike in parts of Belgium on Monday is expected to disrupt rail services and one of Europe's largest ports as trade unions and workers voice their anger over

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1258 sec (8 req/sec)