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Category: Industry News

NOAA Study Claims Bait-and-Tackle Shops are Boosting the Economy

The National Oceanic and Atmospheric Administration recently conducted a survey that found that independent marine recreational bait and tackle retail stores play a largely important role in boosting the U.S. economy. In 2013, the first ever economic survey of independent retailers concluded that the industry contributed about $2.3 billion into the economy and provides over 16,000 jobs across the nation. The 2015 study results were released in June and showed a clear correlation between positive economic health and a strong contribution of the bait and tackle industry. Although the industry has shown to affect coastal communities in the highest degree,…

Boat Sales Up in October: What it Means for the Industry

Whether you currently own a boat or are considering buying a used boat in San Diego, you’ll be interested to know boat fanciers of all shapes and sizes are more confident in the economy’s health. Boat brokers are reporting an upswing of nearly 10 percent in larger boat purchases in October compared to just a year ago. Overall pleasure craft sales are running just about the same as last year’s sales. This is a continuing trend in the recreational boat arena, according to the National Marine Manufacturers Association. Buying large and small NMMA reported a similar 10 percent increase in…

Now is the Best Time to Buy a Luxury Boat in San Diego

Winter is a busy time for people in the boating industry. The winter months, primarily December and January, are a popular time for buying and selling boats due to the discounted off-season prices. While San Diego may not have a typical “off season”, prices still go down as dealers clear out old models to make room for the latest and greatest yachts. If you’re thinking about purchasing a boat, now is the time to start looking at local yacht brokerages for the best deals and steals on used boats in San Diego. And because o the winter sales and improved…

San Diego Boat Show Attendance Soars

After a downturn in 2013, attendance at the San Diego Boat Show skyrocketed this year. Boating enthusiasts descended on San Diego in record numbers. Total attendance was 7,640, an increase of nearly twenty-five percent from the previous year. The show was bolstered by an expanded presence. Exhibit space increased by twenty percent and a total of almost 125 companies proudly showed off their boating products, targeting individuals looking to buy a boat in San Diego. Other improvements included blue water fishing and sports fishing seminars and an increased selection of “superyachts”. Interested consumers flocked to the show to see what…

U.S. Brokerage Sales Make Progress in 2014

Although boat brokerage stales still lag behind previous numbers that were seen at this time last year by about 2%, sales have increased substantially since the beginning of 2014. Since January of this year, sales have almost doubled from a little less than 1,000 to over 3,000. This is a positive sign showing that the disparity is narrowing and sales may even exceed last year’s numbers in the coming months as the global economy continues to accelerate. While the volume of boat sales have decreased, the actual price volume as increased. For instance, April 2014 boat sales were $311 million,…

Boating, E15, and the Renewable Fuel Standard (RFS)

Since early 2010, California (like many other states) has had 10% ethanol in its gasoline (E10). E10 is now in approximately 90% of the gas in the United States, leaving boaters with no other choice than to utilize this blend of gasoline. Unfortunately, boaters who use E10 are starting to report problems including erratic engines and clogged fuel filters. In some cases, the hydrophilic characteristics of ethanol have caused serious damage, and have even destroyed some engines in new and used boats in San Diego. This leads us to E15, a new fuel blend that contains 5% more ethanol than…

Boat Profitability Returns for Brunswick Marine

A prediction by its CEO that Brunswick Corp’s boat business will return to profitability in 2014 is welcome news to an industry that’s been struggling with sales and profitability since 2008. CEO Dustan E. McCoy told attendees at the annual Raymond James Institutional Investors Conference that Brunswick Marine, the world’s largest manufacturer of pleasure boats, has significantly grown market share in boats under 40 feet during the downturn. Growing penetration in the under-40 segment sets the stage for earnings growth from parts and accessories, which are the core for business growth, McCoy told conference attendees. McCoy’s optimistic tone comes on…

Rise in Consumer Confidence Creates Increase in 2013 Boat Sales

At Ballast Point Yachts, we’re always trying to provide our clients with the most up to date information in the industry, and wanted to share information reported by the National Marine Manufacturers Association (NMMA). As we’re heading into the beginning of February, reports are showing that 2013 boat sales have exceeded those of 2012 by about 7%. Industry experts are contributing this increase to post-recession gains as consumer confidence has been steadily rising over the past two years, causing consumer spending to climb accordingly. One of the strongest relationships that have been observed is between home sales and boat sales….