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Kayla Schober
Seattle Boating ExaminerA native Washingtonian (yes we do exist) Kayla has been boating in the Puget Sound area for the past 15 years. She and her husband bought their 1st boat before they even had a couch. Most of her free time and weekends are spent on their sailboat, Zig Zag. She blogs at www.sailingsamandkayla.blogspot.com.
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Struggling Economy Affecting Boat Sales
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by Kayla Schober, Seattle Boating Examiner
Seeing boats on the lakes and sound is a common sight here in the Seattle area. Boats are part of our summer landscape and it seems like there are more all the time especially when we try and get through the locks. But the struggling U.S. economy and increasing gas and diesel prices are affecting boat sellers and builders in the Northwest. Even to us avid boaters, boats are still a discretionary part of our budget and can be one of the first expenses to cut in lean times. According to the NMMA (National Marine Manufacturers Association) boat sales decreased 6% from 2006 to 2007.
Last week Redmond, WA based Olympic Boat Centers filed Chapter 11 bankruptcy. They are the second largest boat retail chain in the U.S. with 20 locations on the west coast from British Columbia to San Diego. Olympic Boat Centers sells several brands including Bayliner, Maxum, and Trophy boats. According to court documents they owe up to 100 million dollars to their creditors including Brunswick Corporation.
In related news the Brunswick Corporation, who manufactures brands like Bayliner and Maxum, has suspended boat making at its Arlington, WA plant for 1 month. 425 workers are affected and will not be receiving pay during this time. Sales for the boat division of Brunswick were down 6% in 2nd quarter of 2008 vs. 2nd quarter of 2007. Sales outside the United States saw a large increase which helped prevent further losses.
Fortunately for the boating industry the declining domestic industry has been partially offset by the steadily increasing export market to Canada, Europe, and Australia. NMMA reports export sales increased 23% in 2007. Even more good news is that 2007 was the first year the export market for boats exceeded the import market.
Now might be the time to check out destinations closer to home. Slowing down can help you enjoy the scenery while cutting fuel costs. Sailboat owners can take advantage of breezy days and put up the sails. Invite your friends and family on board for the day or weekend and have them help with costs by bringing food and drinks. If they offer to help out at the pump take them up on it.
For those looking to buy a boat the time may be now since there will be deals available with the softening of the market. What better way to forget about our economy than by spending a day on your boat even if you keep it at the dock to save on fuel.
Topics: Boating , boat sales , Olympic Boat Centers
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