Torqeedo sales double over Q3 last year

Unit sales were up to 6,832 because of stronger demand in small outboards
Author:
Publish date:
Toraeedooutboard

The German engine builder Deutz, parent of Torqeedo, reported net sales growth of 6.4 percent to $1.5 billion (1.37 billion euros) for the first three quarters of the year compared to the same period a year ago. The company said in a statement the value of new orders during that period fell by 15.1 percent compared to the previous year.

But its Torqeedo engine sales “were more than twice as high” as the third quarter a year ago, according to a statement. The company sold 6,832 units. Its second quarter revenues, however, were impacted by a recall of Torqeedo units, according to the statement.

“Despite a general slowdown in market growth, we saw revenue advance in all regions and major application segments and demonstrated our operational strength by delivering a high double-digit percentage increase in earnings,” said Dr. Frank Hiller, CEO of the Deutz Group, in the statement. “Overall, we believe that we are on track to achieve the current full-year guidance for revenue and earnings.”

Related

NMMA to Hold State of the Industry Webinar

The March 4 webinar takes place at 11 a.m. and includes the presentation of the Marine Industry Customer Satisfaction Index Awards and the Alan J. Freedman Award.

Sanlorenzo Reports 2020 Financials

Gains in the Asia-Pacific and Americas markets offset losses for the Italian builder’s superyacht division.

Into the High Season

Our monthly Pulse Report survey asks dealers about restocking inventory and more, as the new season looms.

It Takes Two to Tango

The boom in boat sales we’re enjoying is a result of the combined efforts of the National Marine Manufacturers Association and the Recreational Boating and Fishing Foundation.

Besenzoni - for over 50 years ambassador of made in Italy in the world - designs and produces accessories for pleasure and commercial boating characterized by simple and functional design

Besenzoni constantly assists its customers in 90 countries with 187 representative points and a direct assistance network consisting of 164 operating units around the world coordinated by the headquarters.

Sea Tow Saves Cold-Stunned Turtles

Its Corpus Christi outfit is rescuing turtles that were affected by the deep freeze in Texas.