Archive for » January 10th, 2018«

UK boating industry buoyed by weak pound – BBC News

Sunseeker 76Image copyright
MiKe Jones

The UK’s boat and yacht industry has seen revenues surge to their highest level since the financial crisis after the weaker pound helped drive up sales.

Sales rose by 3.4% to £3.1bn in the year to April 2017, according to a report by lobby group British Marine.

It said that the depreciation of the pound since the EU referendum had boosted the sector by making products cheaper for international buyers.

Overseas sales for UK marine manufacturers rose by 4.7% last year.

It’s the sixth consecutive year of growth for the industry, British Marine said.

“These impressive figures demonstrate how the industry has successfully cashed in on the pound’s devaluation since the Brexit referendum in 2016,” said Howard Pridding, chief executive of British Marine.

Staycation boost

Revenues last reached £3.1bn in 2008-09 as recession gripped the world’s major economies.

The fall in the value of the pound has also helped the domestic market as holiday-makers decided to stay in the UK.

Examining the trends over the second half of last year British Marine said 60% of the industry’s tourism specialists reported an increase in sales over the summer.

Mr Pridding said: “As the pound has dipped, many Brits have rekindled their love for barges, yachting, watersports holidays and canal cruises in and around the UK.”

The figures were released as part of the opening of the five-day London Boat Show which runs until 14 January.


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US boat sales strong heading into show season

As the industry prepares for a busy winter boat show season – a crucial selling period – National Marine Manufacturers Association announced this week that unit sales of new powerboats are expected to be up 6 percent in 2017, marking an estimated 260,000 new powerboats sold last year.

As consumer confidence continues to rise and boat manufacturers introduce products and experiences to attract younger boaters, the outlook for 2018 new powerboat sales is another 5 to 6 percent increase.

“The close of 2017 marked our sixth consecutive year of growth in new boat sales and recreational boating expenditures, and we expect that trend to continue through 2018, and possibly beyond,” said Thom Dammrich, NMMA president. “On the horizon, if economic indicators remain favorable to the recreational boating market with strong consumer confidence, a healthy housing market, rising disposable income and consumer spending, and historically low interest rates, the outlook is good for boat sales.”

 Buyer trends and sales for the year ahead at this winter’s boat shows include the following:

  • Versatile family fun boats: As manufacturers continue to build more accessible and versatile watercraft to attract new and younger boaters, sales are expected to be up for ski and wake boats (seven percent), pontoons (7-8 percent) and personal watercraft (5-6 percent) in 2017.
  • Fishing boats: Fishing boat sales are a major driver of the industry’s sustained momentum. Sales estimates for 2017 show saltwater fishing boats up four percent and freshwater fishing boats up two percent.
  • Cruisers: Boats between 22 and 32 feet are on the rise with estimated gains of 9-10 percent in 2017. With consumer confidence and consumer spending at strong levels, sales of these mid-sized powerboats are expected to continue the upward trend in the year ahead.
  • More boating experiences for new boaters: Boat clubs, rentals and fractional use companies continue to grow in popularity as new boaters explore ways to get on the water. Boating experiences provide a gateway to ownership and companies like Boatsetter, Freedom Boat Club, SailTime and Carefree Boat Club help beginners find ways to go boating.

Annual U.S. consumer spending on boats, marine products and services totaled $36 billion in 2016 and are expected to have climbed 3 percent in 2017 to $37 billion.

The recreational boating industry in the U.S. supports 650,000 direct and indirect American jobs and nearly 35,000 small businesses.

Recreational boats are uniquely American made with 95 percent of the boats sold in the U.S, are made in the U.S.

Leading the nation in sales of new powerboat, engine, trailer and accessories in 2016 were the following states:

  • Florida: $2.5 billion, up 5 percent from 2015
  • Texas: $1.4 billion, up 5 percent from 2015
  • Michigan: $868 million, up 9 percent from 2015
  • Minnesota: $710 million, up 9 percent from 2015
  • North Carolina: $689 million, up 11 percent from 2015
  • New York: $688 million, up 14 percent from 2015
  • Wisconsin: $622 million, up nine percent from 2015
  • California: $615 million, up 15 percent from 2015
  • Georgia: $551 million, up 11 percent from 2015
  • South Carolina: $544 million, up 10 percent from 2015

It’s not just new boats Americans are buying; there were an estimated 981,600 pre-owned boats (powerboats, personal watercraft, and sailboats) sold in 2016, totaling $9.2 billion in sales, NMMA reported.

There were an estimated 11.9 million registered/documented boats in the U.S. in 2016.

Ninety-five percent of boats on the water (powerboats, personal watercraft, and sailboats) in the U.S. are small in size, measuring less than 26 feet in length—boats that can be trailered by a vehicle to local waterways.



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UK boating industry buoyed by weak pound – BBC News – BBC.com

Sunseeker 76Image copyright
MiKe Jones

The UK’s boat and yacht industry has seen revenues surge to their highest level since the financial crisis after the weaker pound helped drive up sales.

Sales rose by 3.4% to £3.1bn in the year to April 2017, according to a report by lobby group British Marine.

It said that the depreciation of the pound since the EU referendum had boosted the sector by making products cheaper for international buyers.

Overseas sales for UK marine manufacturers rose by 4.7% last year.

It’s the sixth consecutive year of growth for the industry, British Marine said.

“These impressive figures demonstrate how the industry has successfully cashed in on the pound’s devaluation since the Brexit referendum in 2016,” said Howard Pridding, chief executive of British Marine.

Staycation boost

Revenues last reached £3.1bn in 2008-09 as recession gripped the world’s major economies.

The fall in the value of the pound has also helped the domestic market as holiday-makers decided to stay in the UK.

Examining the trends over the second half of last year British Marine said 60% of the industry’s tourism specialists reported an increase in sales over the summer.

Mr Pridding said: “As the pound has dipped, many Brits have rekindled their love for barges, yachting, watersports holidays and canal cruises in and around the UK.”

The figures were released as part of the opening of the five-day London Boat Show which runs until 14 January.


Similar news:

Classic crafts cruise on at Minneapolis Boat Show

With U.S. boat sales hot for the second year in a row and with Minnesota ranked fourth among all states as a leading market for new powerboats, engines, trailers and accessories, the 2018 Minneapolis Boat Show expects a major splash in attendance starting Thursday.

There, in front of Hall D near the main entrance, some 36,000 visitors will be greeted by boating’s past. Surrounded by magnificent wooden creations and a few old fiberglass gems, members of the Bob Speltz Land-O-Lakes Chapter of the Antique and Classic Boat Society will be serving up nostalgia for at least the 15th year in a row.

Like the rest of the boating community right now, the club is in a period of prosperity. Membership is up 20 percent over the past two years to about 360 people. This year’s boat show, running through Sunday at the Minneapolis Convention Center, provides another opportunity for expansion.

“We are growing and we have a reputation of being a very active chapter,” said Dave Bortner, the club’s president.

Bortner, who owns a boat service and restoration company in Mound, said there’s a full spectrum of boat styles represented in the club — from canoes to sailboats and specialty boats. What’s relevant to the club changes as various “new” watercraft become collectible. Finned fiberglass boats made by Herter’s Inc. in the 1950s have drawn attention for a number of years. Century Coronados, Boston Whalers and James Bond-style Glastron boats — also made from fiberglass — have come into vogue.

“What is cool to collect is getting newer,” Bortner said. “It’s not just wood boats.”

Surprise is a 1927 Hutchinson Launch 30-foot boat built in New York. It was commissioned by a wealthy woman as a birthday surprise for her husband. The boat will be on display Thursday through Sunday at the Minneapolis Boat Show.