Report: Marine industry levels off
NEW YORK — The US boat industry has stopped sinking, but may not quite be in recovery mode, according to a recent report in The Wall Street Journal.
The article, by Bob Tita, uses sales numbers of recreational powerboats — and projections that sales “are rising as much as 10 percent this year” as part of the basis for the analysis. Powerboat sales were at a record low of 132,00 units in 2010; the industry averaged 300,000 units annually in the 14 years prior to 2007.
Other hindering factors to recovery include credit access, continued unemployment, a glut of product on the market and rising fuel costs, according to the article.
Click here to read the report: US Boat Industry No Longer Floundering But Recovery Murky
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