Genmar is planning to re-enter the aluminum boat market, with plans to have the as-yet-unnamed company up and running in a new factory during the first quarter of 2010.
“After carefully assessing and evaluating the aluminum boat market over the past several months, we’ve concluded there is a major need, along with great opportunities, in the aluminum boat segment of the fishing and recreational boat market,” Genmar chairman Irwin Jacobs said in a letter sent yesterday to dealers.
Genmar previously manufactured Lund, Crestliner and Lowe aluminum boats.
Jacobs said he believes today’s aluminum boats are overpriced, with some even retailing for higher than equally equipped fiberglass fishing boats of identical size.
“It is Genmar’s intention to substantially decrease the wholesale and retail prices in all of the aluminum boat segments of the market,” Jacobs said.
“I believe the only way that Genmar can once gain become the industry in aluminum boats is for us to basically change the entire way aluminum boats are presently priced, manufactured and marketed to dealers and to the retail-boat buying consumers,” he added.
The name of the new company will be announced late next year or early in 2010, though a location for the new boat factory should be announced in 2009.
Genmar plans to initially offer dealerships to existing Genmar dealers and to past dealers of Genmar’s former aluminum boat lines.
“With the above proposed commitment from Genmar, it is obvious that we are very optimistic about the future of the boating industry and believe that the recreational boating market will once again be re-emerging bigger and better than ever,” Jacobs concluded.
Genmar’s current boat lines include: Four Winns, Carver Yachts, Ranger Boats, Wellcraft and Larson, among others.