marine industry

Boat sales expect strong rebound

BLOOMBERG NEWS FILE PHOTO/MUNSHI AHMED
THE superyacht Majesty 88, right, is anchored at ONE°15 Marina Club at Sentosa Cove during the Singapore Yacht Show 2011, in Singapore.
Posted 2/20/12

BOSTON – Recreational boating sales are expected to rise to their highest level since 2007, Enterprisenews.com reported Saturday.

The publication pointed to the expanded Progressive Insurance New England Boat Show, which increased its exhibit space 40 percent from last year. The boat show was at the Boston Convention & Exhibition Center in South Boston last weekend.

The show’s manager, Joe O’Neal, said this year’s turnout from dealers and manufacturers was the strongest since 2008.

Boat sales dropped 55 percent from 2006 to 2010, and used-boat sales slipped 7 percent, according to the Chicago-based National Marine Manufacturers Association. The group sees a 6 percent increase in 2012 sales of new boats and engines.

“The industry’s fortunes are closely tied to consumer confidence, which has been improving nationwide and locally,” Enterprisenews.com said.

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