Genmar claims 20 per cent increase in dealer orders

By IBI Magazine / Ed Slack

Fueled by dealer optimism built through three successful North American Internet promotions and the launch of the customer service programme Genmar FirstMate, Genmar Holdings, announced today that dealer orders for new-model Genmar boats are up approximately 20 per cent over last year's figures.

The increase in dealer orders is expected to translate into record sales for Genmar, which exceeded US$1 billion in sales for the first time in company history during the 2002 model year. The strength in Genmar's business is further supported by the continuing monthly trend, supported through Genmar's dealer finance companies, which reflect a more than 20 per cent increase in dealer loan payoffs over the comparative prior year months and dealer monthly loan payoff dollars exceeding dealer monthly purchases by almost 2-to-1 (Genmar dealer finance companies include Trans America Distribution Finance, Deutsche Financial Services and Bombardier Capital).

Genmar claims aggressive marketing campaigns, including Boatcash.com, The Home Town Boat Show and Boat Sale USA and Canada, resulted in more than US$500 million in sales during the 2002 model year and left dealer inventories at their lowest levels in many years, the boatbuilder claims.

"A twenty per cent increase in dealer meeting orders is an exceptional number, particularly when you take into account that Genmar is the largest boatbuilder in the world," said Genmar chairman Irwin Jacobs. "An unprecedented number of non-Genmar dealers have also contacted us requesting to become Genmar dealers."

In the past six months, Genmar says its Add-a-Brand Programme has received more than 500 requests from dealers looking to add Genmar products.

(13 August 2002)