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After boat sales steadily and strongly increased throughout the 50s, there were 3, marinas and boat yards in the U. Other stats included 5,, outboards in use, and , new outboard boats sold during the previous year.
According to the Outboard Boating Club of America, New York lead the way in outboard boat use with , outboards in use at the close of Michigan came in second place with ,, followed by California in third place with , outboards in use. Brunswick entered the marine industry in with its purchase of Owen Yachts. In , Brunswick added the Kiekhaefer Corp. Hurricanes Betsy and Camille were major Gulf Coast disasters that roared ashore in and As the s dawned, all eyes were on the poor economy and the pages of The Boating Industry reflected that.
In , one of the big names in the industry went back out on his own as E. He had founded Mercury in and had stayed on after its acquisition by Brunswick Corp. There was an increased focus on energy efficiency during the decade, as a series of oil embargoes and gas shortages affected the industry. A new wave of watercraft hit the scene in the s as well, with Kawasaki introducing its first U.
PWC in The decade also saw an important trend toward more professionalization as two key industry associations were born. First, in , the Marine Retailers Association of America was founded when representatives from more than 50 boat dealers met in Chicago to form the group.
In the wake of rising energy prices, unemployment and inflation in the s, the 80s began on rocky shores with two back-to-back recessions. The challenging economic times resulted in bloated inventories, laid-off workers and consumers that were too skittish to invest in a new boat. Major events included the botched U. On the bright side, Pac-Man was released in This year is pretty much beyond redemption for most of the companies. It will probably be Boating Magazine Buyers Guide Website one of the worst years ever.
The federal government did the industry no favors in the early 80s, either, as the Department of Energy presented plans to ban weekend boating in an effort to save gasoline. The industry organized significant write-in campaigns to protest the ban, which was later scuttled. The recently formed NMMA also launched a promotional campaign telling the economic story of boating, which employed , people at the time.
Chrysler sold its boatbuilding division to Texas International in Minnesota-based investor, Irwin Jacobs, took over the company in Volvo Penta became an independent subsidiary of the Volvo Group in , as the company increased product launches and product development throughout the decade � notably including the introduction of the Duoprop sterndrive.
In � the same year Yamaha entered the U. Technological improvements set the stage for industry recovery that picked up as the decade progressed. The boating industry was in dire straits as the s started. The earlys recession provided a one-two punch that resulted in dozens of bankruptcies and thousands of employees losing their jobs before the tax was finally repealed in In , Brunswick closed five plants and laid off nearly 1, employees, while Genmar closed two factories.
OMC closed more than a dozen plants in the early s. Carolina Skiff, Carver, Ranger, Trojan and Sabre were just some of the brands that went in and out of bankruptcy. In , massive flooding in the Midwest devastated businesses in that region. Overall, the industry went from employing , in to , in It was estimated that the average boat price dropped by as much as 50 percent.
The luxury tax led to an increased focus on Washington by industry associations and the Congressional Boating Caucus was formed as a formal, bipartisan body to focus on boating issues. Proving the old adage that there are no new ideas, in Boating Industry covered the surging jet boat market. In other significant events during the s, Textron entered floorplan financing, where it would become a major player until the Great Recession and one of the leading pontoon manufacturers was founded when former Forrester president Bob Menne and dealer Gene Hallberg announced their plans to form Premier Marine.
Honda, although it had been selling product in the United States for several years, formed its U. Most of the industry recovered in the wake of the tax repeal, with some exceptions.
Most notably, OMC continued to struggle, losing market share to other boat and engine manufacturers. In , OMC announced it was considering leaving the boat-building business, although it later reversed course.
After saying in that it was seeking new investors and merger partners after posting large losses for several years, it was acquired by Greenmarine Acquisition Corp. Few decades in American history began as rosy as the s. After the worst of the Asian financial crisis receded, a roaring U. Bucking the positive economic trends, OMC filed for bankruptcy and laid off its 7, employees. Signs of economic weakness appeared across the globe in early , as tensions in the Middle East rose after Israel and Palestine resumed clashes and the U.
The world shifted on Sept. Following this tragic turning point, the U. American and British forces quickly launched attacks on targets within Afghanistan. The invasion of Iraq began in March Submit Blog Do you want more traffic, leads, and sales?
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