High tide in 2011?

Published On: April 4, 2011Categories: Industry News

After several years of low tide in the marine industry, 2011 may be the year that finally lifts all boats. “The marine industry is starting to see signs of recovery as we move past the recession,” says Jeff Malehorn, president and CEO of GE Capital’s Commercial Distribution Finance (CDF) at the Miami International Boat Show. A survey released by CDF showed that 38 percent of respondents expected sales to increase in 2011, and 54 percent said the best time for dealers to increase inventory levels is now. Sales of lower-ticket items, such as aluminum boats and recreation boats, are rebounding faster than luxury yachts. The biggest obstacles to growth, according to the marine dealers and manufacturers surveyed, were consumer demand (70 percent) and reduced level of showroom and field inventory (40 percent).