This page was printed from https://marinefabricatormag.com

NMMA survey reveals impact of BP oil spill on boating businesses

August 20th, 2010 / By: / Industry News

The National Marine Manufacturers Association (NMMA) released findings from a recent online survey on the effects of the BP oil spill in the Gulf of Mexico on the recreational marine industry. NMMA surveyed 178 member boat, engine and accessory manufacturers in late June through July.

“Results from this member survey offer a timely and realistic picture of how the oil spill has had, and likely will continue to have, a negative impact on recreational marine manufacturers,” says Thom Dammrich, NMMA president. “The effects of this spill, both real and anticipated, are being felt by more than half of the manufacturing businesses in our industry.”

Survey findings include:

  • Three out of five recreational marine manufacturers have been affected by the oil spill.
  • Nearly four out of five surveyed companies anticipate some effect from the spill on their business throughout the remainder of the year.
  • Seventy-six percent of surveyed companies had forecasted sales growth in 2010 prior to the spill.
  • Seventy percent of surveyed companies have downwardly revised their 2010 sales projection as a direct result of the spill.
  • Sixty-four percent of surveyed companies downwardly revised their projections by 5‐20 percent.
  • Sixty-eight percent of surveyed companies were told that a cancellation was directly due to the spill.

“An estimated 11 percent of total U.S. new marine products are sold within the areas of the Gulf Coast affected by the oil spill,” Dammrich says. “Findings from our survey point to a widespread effect on marine manufacturers both in and beyond the Gulf Coast. While not an insurmountable setback as our industry awaits recovery from the economic recession, the oil spill’s long-term impact on marine businesses in the Gulf—and nationally—is yet to be determined.”

To view a PDF of the survey results, click here.

SOURCE NMMA

Leave a Reply

Your email address will not be published. Required fields are marked *

Comments are moderated and will show up after being approved.