GE Capital sees uptick in Canadian marine ordersPosted on
GE Capitals Commercial Distribution Finance business said Monday that it has seen positive trends in the Canadian marine, motorsports and recreational vehicle industries through the first half of the year.
Even better, GE expects favorable conditions to continue into 2014.
Commercial Distribution Finance found that dealers inventory orders were up in all three categories. Aging of inventory has dropped in motorsports and marine while staying flat year-over-year in RVs.
Cool weather in May and June resulted in a late start to the already short Canadian selling season, but surprisingly liquidations are only slightly below last years levels, Commercial Distribution Finance Canada president and CEO Howard Shiebler said in a statement. Overall the macroeconomic environment has stabilized and the Canadian economy continues to respond favorably.
In the marine market, a 17 percent increase from last years volume is within striking distance of pre-downturn figures nationwide. There has been considerable growth year-over-year in the prairies and in the Atlantic region, although Ontario and Quebec still account for the most volume by province.
We saw a lot of excitement at last years boat shows, Shiebler noted. Canadian marine dealers continued to fill orders from those shows into the first half of this year.
The strong performance can be seen in inventory aging levels, as well; the national level of inventory aged one year or more has decreased to nearly 16 percent from just below 19 percent in 2012.