Genmar claims US$100 million in May sales

By IBI Magazine / Michael Verdon

Genmar Holdings claimed to generate US$100 million in sales in May, according to a letter sent out to dealers from Genmar chair Irwin Jacobs. "We've just completed our Wal-Mart Boat Sale USA and Boat Sale Canada," he wrote. "Once again we blew the walls out. Between the Wal-Mart parking lot sales and Genmar on-site dealership showroom sales during May 2002, we generated more than US$100 million in retail sales through Genmar's 14 participating boat companies."

Jacobs also said that the sale generated a list of 17,000 "prospective" buyers who are undecided about purchasing a new boat. After the Wal-Mart sale, Jacobs gave these statistics: Lund boats sold the most units at retail; Crestliner converted over 32 per cent of its leads into retail sales; Four Winns converted almost 40 per cent of its leads into retail sales; Glastron and Larson converted 37 and 35 per cent, respectively, of their leads into retail sales, and Lowe converted 33 per cent of its leads into retail sales. Overall, said Jacobs, the 14 Genmar companies converted 20 per cent of all leads into retail sales.

"We believe that when the retail statistical numbers for the marine industry are in for the April through June 2002 quarter," wrote Jacobs, "Genmar's retail sales and market share gains will startle the industry." He added that Genmar will "continue to be at least as aggressive and creative, if not more so, going forward, than we have been during the past several years." He added that the conglomerate will be expanding its dealer base into new territories this year.

(26 June 2002)