Marine Industry Expects Rebound in 2011
By Michael Vatalaro
Buoyed by positive trends in economic indicators, marine industry leaders expect boatbuilders to see growth in sales and revenue of up to 15 percent in 2011. Speaking at an industry event at the Miami International Boat Show, Thom Dammrich, president of the National Marine Manufacturers Association, made the case that boat buyers, who had in the past year or so shopped heavily in the used-boat market, would come back to new models, thanks to improved consumer confidence and a shrinking pool of available used boats. He also noted that boat buyers looking for a late-model used boat would find the supply scarce, as many manufacturers severely limited or ceased production during the recession. Additional evidence of a resurgence in boat buying can be seen in the 14-percent increase in attendance at the Miami show, one of the largest on the East Coast. More than 100,000 people visited the show in February.
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