Skip to main content
Updated:
Original:

Analyst sees promise in June sales numbers

New preliminary data released Friday by Statistical Surveys confirm a Wells Fargo analyst’s assessment that a sluggish early start to 2014 in boat sales is now showing signs of an uptick.

Statistical Surveys data showed that unit sales increased 5.4 percent year over year in powerboat and 13.6 percent in ski, wake and PWC, wrote analyst Tim Conder.

High precipitation likely affected results in six of the 26 early reporting states—Minnesota, South Dakota, Kansas, Iowa, Mississippi and Tennessee.

All traditional segments grew between 6 and 11 percent year over year, with the exception of sterndrives, which declined 13.6 percent.

“Overall, the data confirms our previous observations and conversations with industry lenders of accelerating June trends with similar momentum continuing into early July,”Conder wrote in a report.

April through July historically account for about 59 percent of annual U.S. retail boat sales. Last year, because of poor second-quarter weather, sales gains didn’t begin to kick in until July, Conder noted. They then continued through October.

In 2014, year-to-date sales are stronger despite longer-lasting seasonal challenges that appear to be accelerating into July, he said.

Improving trends and new products are reinforcing the firm’s bullish position on Brunswick Corp., Malibu Boats and Sea-Doo.

Conder thinks that the capacity constraint in Brunswick’s new 35-foot SLX sterndrive, its 51 and 65 should be resolved sometime in the second quarter. The company is gaining outboard fiberglass share with those products and is approximating flattish share in aluminum products, despite heavy skewing to the wet upper Midwest.

Overall, U.S. boat industry dynamics should keep a “relative floor under new-boat demand,”Conder wrote.

Related

AIM Marine Group Hosts Meet the Editors Event

More than a dozen editors from Active Interest Media’s Marine Group participated in the day-long, information-sharing event.

Fairline Makes Leadership Appointments

The British luxury boatbuilder founded plans to chart its course for the future with a new CEO and the return of Derek Carter as chairman.

Battle on the Great Lakes Rages On

The Icebreaker Wind Turbine Development faces strong headwinds from boating and fishing groups.

Limestone Boat Co. Expands Dealer Network

The company adds four new dealers to its roster, with three to represent Aquasport Boats.

NMEA Announces ‘22 Training Course Schedule

For next year, marine training courses will be offered as virtual and in-person sessions for basic marine electronics installers, and in-person only for advanced installers.

GM Invests $150M in Electric Boat Start-Up

General Motors has acquired a 25-percent stake in Pure Watercraft, a Seattle-based e-propulsion outfit.

Patrick Acquires Marine and RV Seating Maker

The Elkhart, Ind.-based component manufacturer finalized its purchase of Williamsburg Marine and Williamsburg Furniture.