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U.S. Boating Industry Continues to Surge; Expecting Full-Year Sales to Grow 8 …


CHICAGO, Aug 14, 2014 (BUSINESS WIRE) —
After a slow start resulting from a harsh winter and cold spring, the
recreational marine industry is experiencing accelerated growth, says GE
Capital, Commercial Distribution Finance (CDF). Retail and wholesale
sales are up versus a year ago in the U.S., and the industry is on track
to reach the 8% growth in retail dollar sales originally forecast
in February by CDF at the Miami Boat Show

.

“We finance more than 2,000 dealers in our marine business, and we see
them moving a lot of product at the retail level,” said Bruce Van
Wagoner, president of CDF’s marine group. “We have no reason to think
the industry won’t hit or even exceed 8% growth this year.”

Through June, retail boat sales are already up 4.8% excluding personal
watercraft (PWC), and up 9.5% including PWC, according to early
reporting data from Statistical Surveys, Inc. (SSI). For this same time
period, wholesale financing volume at CDF is up 13%, dealer inventory
turnover is over 2X, and aging rates, reflecting inventory over
one-year-old, are down 2%.

“These strong inventory turns and low level of aged inventory are the
best we’ve seen in 20 years,” said Ed Bragg, vice president of
manufacturer relations for CDF’s marine group. “This data underscores
the broader health of the market place and also shows the disciplined,
prudent business practices which provide a good foundation for further
growth.”

“The marine industry can obviously benefit even further if the economy
accelerates, but it also has to be prepared for every economic
scenario,” Van Wagoner noted. “Both manufacturers and dealers have done
an excellent job of riding out the ebbs and flows of the economy in
recent years, and today the industry is again vibrant.”

CDF, which has been in the marine industry for more than fifty years of
business and economic cycles, offers customer-centric new and pre-owned
floorplan programs that enable marine dealers to stock a broad selection
of products. Inventory financing, also known as floorplan financing, is
an important element of a successful manufacturer-dealer business model.
CDF has long-term relationships with marine customers, including over
500 dealers who have been customers for at least 20 years.

About GE Capital, Commercial Distribution Finance

GE Capital, Commercial Distribution Finance provided $34 billion in
financing for more than 30,000 dealers and more than 3,000 distributors
and manufacturers in the U.S. and Canada in 2013. Programs include
inventory and accounts receivable financing, asset-based lending,
private label financing, collateral management and related financial
products. For more information, visit http://www.gecdf.com/

or follow company news via Twitter ( http://twitter.com/GEInventoryFin
).

GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com

or follow company news via Twitter ( http://twitter.com/GECapital
).

GE

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-0.97%


works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building, powering,
moving and curing the world. Not just imagining. Doing. GE works. For
more information, visit the company’s website at www.ge.com
.

SOURCE: GE Capital

GE Capital, Americas
Tara Lambropoulos, 312-441-7854
tara.lambropoulos@ge.com

Copyright Business Wire 2014

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Hunts Marine Bag Quintrex Boats National Dealer of the Year Awards

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Quintrex Aluminum boat Dealer

Quintrex Aluminum boat Dealer

Awards like this just don’t happen.

Sydney, NSW (PRWEB) August 14, 2014

Hunts Marine bag Quintrex Boats National Dealer of the Year Award.

In what continues to be a stellar year for marine dealer, Hunts Marine, they have been recently awarded the Quintrex Boats National Dealer of the Year Award.

The Quintrex Award recognizes excellence in sales, service, product, and industry knowledge, systems and processes, and community involvement.

Quintrex aluminium boats are amongst the most popular aluminium boats in Australia, and Hunts Marine has a proud long-term partnership with Quintrex.

Commenting on the award, Proprietor of Hunts Marine Jon Hunt said, “The entire team at Hunts Marine put a lot of effort into winning this award, it means a lot to us and we are very proud of this achievement.”

“Awards like this just don’t happen. Customers are far more discerning and have a greater awareness of the full gamut of what is available in the market. When Hunts Marine commenced business almost 70 years ago, it was wooden boats, now it is mostly aluminium boat sales specifically tailored to the individual’s needs. We have grown and adapted to the times, and that is what we will continue to do to stay ahead,” Jon added.

“That is a good thing. At Hunts Marine, we want our customers to be fully informed and in the position to make the right choice about the right boat for them, and our team is there to assist and guide them in their decision making process, and I believe that this award signifies that we are getting it right,” remarked Jon.

Quintrex National Account Manager Cameron Wood in congratulating Hunts Marine said, “It is always a pleasure working with the team from Hunts Marine. They truly have excelled in all areas of the award criteria. Hunt’s is one of our largest dealerships and has a very professional approach to the business, excelling especially with their customer service. We never hear a bad word about them, and their customers are always full of praise for the staff and the dealership.”

In conclusion, Jon Hunt added, “As part of our commitment to the community, we are involved with local schools, sporting clubs, and local events, and have been involved in the BoatSmart program for the past four years by loaning a 470 Escape to a local school.”

Hunts Marine is one of New South Wales oldest and most respected marine dealerships. The family business was established in 1946 and has traded continuously since that date. In addition to the original Blakehurst dealership, Hunts Marine has dealerships in Wollongong and Batemans Bay. Quintrex aluminium boats are available at all dealerships.

For further details, contact Jon Hunt on 02 9546 1324 or visit http://www.huntsmarine.com.au.

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