ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Sunday, February 25, 1996 TAG: 9602280002
SECTION: BOAT SHOW PAGE: BS-7 EDITION: METRO
The boating business is kicking up a robust wake. Sales of personal watercraft and yachts in 1995 were especially brisk, helping to give boating a 22 percent gain over the previous year. And 1994 wasn't a slouch. It posted a 25 percent gain.
Last year was the third consecutive year of growth, with sales reaching the $17.2 billion mark, about a half-billion short of boating's 1988 dollar record.
``Considering the chilling effect on sales of 1995's cold, wet spring across much of the country, our industry performance was impressive,'' said Jeff Napier, president of the National Marine Manufacturers Association.
A hot summer helped draw people to the water, Napier said. And so did favorable economic factors, such as high employment and growing disposable income.
``Retail pricing for most boats stayed competitive throughout the year, partially due to the late start, and loans for boats were both easily obtained and reflected a falling interest rate environment,'' Napier said.
The gains are expected to continue into the 1996 model year. The upward movement of boat sales has a history of lasting on average three to five years. There was a seven year boom in the 1980s.
``Last year, we didn't think we could top 1994,'' said Mike Fielder, one of the owners of Advantage Marine and the Southwest Virginia Boat Show chairman. ``I feel like we are going to do every bit as good again this year. It already is showing.''
The recent string of good years has meant boat and motor manufacturers can invest more money into product development, Napier said.
``As a result, our current owners and those likely to enter boating will enjoy a stream of new and improved products with better, more efficient performance,'' Napier said.
Consumers also should see improvement in the service they receive at marine dealerships, Napier said.
Much of the boom in boating last year came from opposite ends of the business. Personal water craft, the Jet Skis, Sea-Doos, Waverunners and Tigersharks of the boating world, saw a 41 percent gain in sales. Motor yachts enjoyed a 30 percent gain.
Manufacturers are looking for ways to maintain or improve sales performance. A look into the future reveals that a large group of boaters remains passionately involved, but boat ownership is becoming more time consuming and expensive. The industry is concerned that the view from the outside may look daunting.
- STAFF
LENGTH: Medium: 54 lines ILLUSTRATION: PHOTO: RANGER. Sales of boats, such as this Ranger Cherokee,by CNBwere up again in 1995, reaching $17.2 billion.