Brunswick CEO sees fewer boat sales this year

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Sales of recreational boats in the U.S. could decline by more than 20 percent this year, Brunswick CEO Dustan McCoy said Tuesday at a Raymond James Institutional Investor Conference in Florida.

McCoy said powerboat sales volume may fall below 150,000 units from 196,000 boats in 2008, Dow Jones newspapers reports.

“We’re choking off the new boats going into the pipeline, so the dealers can get rid of the old product,” McCoy said. “When the economy comes back, both the dealer network and we will be a lot more healthy.”

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Comments

6 comments on “Brunswick CEO sees fewer boat sales this year

  1. JABO

    He figured that out all by himself ?? Any person in the Marine Industry, with half a brain, would know this by now. I guess my question should be, was he paid for the appearance at the conference? If so, I have been involved in the Boating Industry for 38 years, I am availible to speak at future functions.

  2. Pedro

    I’m both surprised and pleased that Mr. McCoy was willing to appear at the Raymond James meeting. Participants at these financial ‘shows’ normally are there to hype their company or industry for the street.

    An even bigger surprise was that he would go on record anticipating little more than a 20% drop this year; an acquaintance, a sales exec at a major critical component supplier, just told me a few days ago that their sales are off 50% from 9/1/08- 2/28/09. While I believe McCoy when he says ‘when the economy comes back Brunswick will be a lot stronger’ I wonder if he recalls that our industry is one of the very last to shine after a recovery, not during a recovery.

  3. cowboy

    I’m from Detroit. The boat dealers should learn a lesson from car dealers. When times get tough they will sell product at $100.00 over dealer invoice (or less) and show the invoice to prospective customers. You don’t make much money, but do move product and realize huge savings on overhead (floorplanning).

  4. rb

    We are really a grassroots industry and the supply side, boatbuilders/florplanners/etc should well come back to a realization of the same. The smaller dealers are the lifeline to supporting the boaters, and ultimately…the industry. Service, satisfaction and enduring dealer/customer relationships are the lifeblood of this industry. I’m afraid the supply side just doesn’t get it anymore. Until a reality of fair treatment to ALL dealers regardless of their size/volume comes on equal ground, the industry as a whole will continue to deteriorate, regardless of what the stock market, consumer confidence, or manufacturer’s strategies may be. As the “Mom & Pop’s” go, so does the industry.

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