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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Australia Submarines: Japan Vs France

While Japan is confident it has proven itself the best contender to build Australia's new submarines, the French have moved to undermine Japan’s bid to build the navy’s new submarines.

Limit Exposure with the Uniform Commercial Code

Demanding assurance pursuant to the UCC may save you from sinking on someone else’s ship. Vessel operations require a large network of companies that come together

Baltic Index Touches New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Simulators
rss | archive | history | articles | privacy | 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: 0.0739 sec (14 req/sec)