Due to excessive inventory Century Boat Company has shutdown production at its fiberglass boat manufacturing facility in Panama City, Fla. for the final for 2 months of 2008. Century Boat vice president and general manager Dean Burnett stated the reason for the shutdown was to, relieve dealer inventory pressure for the remainder of the calendar year and plan for the future success of this company in 2009 and beyond.”
You’ve probably noticed that there seems to be some pretty good deals on boats these days. As the economy waits to rebound, there have been several factors that have contributed to this “buyer’s market”. The over estimated demand by manufacturers for new boats and a substantial sell-off in the private party marketplace have significantly reduced pricing. In addition, marine finance programs are still surprisingly attractive. Interest rates have remained low and there are programs available for many credit profiles. Read the rest of this entry »
Jeppesen Marine’s Club Jeppesen Marine and Sea Tow Services International Inc. have partnered to help make boating easier and safer for their customers. “We are dedicated to improving personal safety and peace of mind on the water,” said Capt. Joseph Frohnhoefer III, vice president of operations, Sea Tow. Sea Tow provides emergency on water assistance to boaters. Sea Tow is now offering its customers a discount on all of Club Jeppsen Marine electronic cartography charts, which provide easy to use and up to date navigational information.
Club Jeppesen members will now enjoy similar discounts on Sea Tow services. Richard Ellis, Jeppesen Marine’s Club director stated,“Our organizations share important common goals — enhancing security and safety on the water and making boating more enjoyable. By joining forces, we’ve made it easier and more affordable for boaters to belong to both organizations and enjoy even greater benefits.”
That’s what Michael Berzowski, a Milwaukee lawyer, asked FBI agents after they called inquiring about a suspicious boat loan request. Needless to say Berzowski was a little surprised to hear the news that his financial records had been used to apply for yacht loan as part of a $2.6 million fraud scheme.
According to the latest figures from Info-Link’s Bellweather Report new powerboat sales in June dropped nearly 20 percent from the June of 2007. This continues the dramatic drop in new powerboat sales from the market’s peak in March of 2004.
What is bad news for dealers spells opportunity for boat buyers. As dealer inventories continue to expand the opportunity for boat buyers to negotiate great deals increases. The secondary market for used boats is also a great buyers market at the moment since such great deals can be found on new boats the prices for used boats are dropping in order compete.