US sailboat wholesale production declines by 19 per cent in 2008
By IBI Magazine
Sailboat production in the US fell to 11,427 units for 2008, a decline of 2,731 units or 19 per cent, compared to the previous year. US sailboat manufacturers also cut their workforces by a combined total of 23 per cent. According to the latest "The Sailing Market: State of the Industry" report, production levels haven't been this low since 1991, after the imposition of the Luxury Tax. The annual report, compiled by The Sailing Company, said that the estimated value of sailboat production fell by 31 per cent to US$551m in 2008. In a year of financial turmoil, all categories of US-built sailboats saw a decline last year. Sailboats below 5.8m (19ft) were down by 19 per cent to 91,60 units. Sailboats from 6.1m-10.7m (20ft-35ft) were down by 24 per cent to 1,366 units, and sailboats from 10.9m (36ft) upwards were down 18 per cent to 901 units. The total of imported sailboats declined by 15 per cent last year. The cruiser category, from 6.1m-10.7m (20ft-35ft), showed the greatest decline at 45 per cent over 2007. But imported sailboats over 13.7m (45ft) saw an increase of 10 per cent in unit sales, and multihull cruisers reported a 7 per cent increase. The large multihulls represented a record 32 per cent of all imports compared to 27 per cent the previous year. In the study, US sailboat builders predicted lower unit production for 2009, forecasting that sailboat production will be down 9 per cent to 10,413 units. Smaller boats are expected to see a more moderate 7 per cent decline for the year, while the builders are predicting a larger 17 per cent drop in sailboats over 6.1m (20ft). Historically, the US sailboat industry tends to be overly optimistic in its forecasts. Last year, manufacturers predicted 14,745 units would be built in 2008. They were high by 23 per cent.
(18 March 2009)
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