Updated:
Original:

MIAMI: NMMA president says ‘worst for boating is behind us’

MIAMI BEACH - The 70th annual Miami International Boat Show opened this morning on a high note, with expectations that the industry will see improvements in 2011 and that the dark days are behind it.

OLYMPUS DIGITAL CAMERA

"We have been here before and we have come out of it," Thom Dammrich, president of the National Marine Manufacturers Association, reminded the group gathered for the State of the Industry breakfast prior to the start of the show. Although the industry might not see huge growth this year, we should see a "fairly strong resurgence," he added.

Sales of new boats dropped during the recession, but participation in boating has remained high. More than 66 million people were involved in boating last year.

"We have a huge installed base that really is one of the great strengths of our industry," Dammrich said. Boating, he added, is a more-than-$30 billion industry.

Dammrich listed 10 reasons he believes sales will grow in 2011:

  • Improving consumer confidence
  • Less saving by consumers and more spending
  • Auto sales are rising
  • RV sales are growing
  • GDP is growing
  • Dealer inventories are at some of their lowest levels in history
  • The used-boat market is drying up and prices are rising on the boats that remain
  • Late-model used boats are not available
  • New models have innovations not available in the used market

Dammrich said retail sales should be up 10 to 15 percent this year.

"The worst for boating is behind us," he added. "We have momentum on our side."

More than 2,000 exhibitors are at the Miami show this year, showcasing more than 2,500 boats, according to the NMMA. Along with Strictly Sail, the show runs through Monday.

— Beth Rosenberg

b.rosenberg@tradeonlytoday.com

Related

Suntex Acquires Tampa Area Marina

The Marinas at Little Harbor, with slips and drystack storage, is in a resort community that’s being developed in Ruskin, Fla.

Littelfuse to Acquire Carling Technologies

The $315 million transaction is expected to close in the fourth fiscal quarter.

Boat Sales and Fraud

Boat History Report has tracked a 123 percent increase in fraud on the preowned-boat market since the pandemic buying spree began.

Avoid Cutoff Confusion

Dealers should familiarize themselves with a new law requiring engine cutoff switches so they can inform their customers. Meanwhile, a new program puts Ohio youth in kayaks to learn about the importance of the Great Lakes.

Wave Wifi MNC1250

Wave WiFi’s new Dual Band Marine Network Controller with SIM-activated cellular system (MNC1250) distributes fast reliable internet onboard. It can be connected to any internet source and transmits both 2.4 and 5GHz AP signals for speed and reliability. Gigabit ports provide fast throughput and Wave’s proprietary Graphic User Interface makes it easy to set up and operate.

OneWater Acquires T-H Marine

OneWater Marine purchased the Huntsville, Ala.-based P&A provider for around $185 million.

Groupe Beneteau Acquires Starfisher

The Portugal-based yard builds powerboats from 25 to 35 feet and was doing subcontracting work for the group.