NMBA survey sees slow 2Q boat sales

Author:
Publish date:
Social count:
0

The National Marine Bankers Association’s second-quarter survey found that all lender respondents — service companies and banks and finance companies — indicated that dollar volume was the same or up from the same period in 2012, surprising some lenders who had projected that volume might be lower.

Only 16 percent of lender respondents to the survey for the quarter that ended June 30 said new-boat financing represented more than 50 percent of their dollar volume; 75 percent indicated that new boats make up less than 26 percent of their lending. The NMBA said this suggests that at least 50 percent of the finance volume is coming from used-boat transactions, which follows historical patterns.

The NMBA said 92 percent of the lender respondents expect third-quarter dollar volume to be greater than or equal to the same period last year, the highest level of optimism the group has shown since the first quarter of 2012.

For the first time since the first quarter of 2012 lenders reported less stringent credit requirements — and dramatically so, the NMBA said. Throughout 2012 and into the first quarter of this year a steadily increasing number of lenders reported credit tightening. During the second quarter only 8 percent reported credit tightening, down from 20 percent in the first quarter, and 8 percent also reported less stringent credit criteria.

Those who reported stricter standards mentioned liquidity and net worth requirements as the areas they believed had become more demanding. The NMBA said 33 percent of lenders reported that consumer credit quality improved in the second quarter, the largest increase since the fourth quarter of 2011.

Twenty-six percent of NMBA lender members responded to the second-quarter survey. The majority have a national presence.

Click here for the full release.

Related

MarineMax has strong second quarter

MarineMax grew revenue more than 10 percent to $270.6 million in the second quarter, prompting the company again to raise its annual expectations to $1.44 to $1.50 versus its prior expectations of $1.30 to $1.40 per-diluted-share.

Brunswick releases first quarter sales

Brunswick Corp. announced that consolidated net sales increased 7 percent in the first quarter, with the marine engine segment up 9 percent and the boat segment rising 7 percent over last year.

Flir posts first quarter results

First quarter revenue at Flir Systems Inc. grew 8 percent to $439.6 million, and organic revenue was up 13 percent, due in part to strong results in the Raymarine.

Connecticut Spring In-Water Boat Show announces exhibitors

The 3rd Annual Connecticut Spring Boat Show will be held May 4-6 at Brewer Essex Island Marina in Essex, Conn., and will feature boats from Albemarle, American Tug, Back Cove, Beneteau, Boston Whaler, Buzzards Bay, Catalina, Chris Craft, Cutwater, Dufour, Dyer, East Bay, Formula, Four Winns, Grand Banks, Hunt, Legacy, Mainship, Maxim, Meridian, MJM, Monterey, Nordic Tug, Ranger Tug, Rossiter, Sabre, San Juan, Scarab, Scout, Sea Born, Sea Ray, Shelter Island, Southport, Surfhunter, Tiara, Vanquish and more.