Changes in the Boating Landscape

How recent industry changes may affect boaters

By Amanda Comission

Many people fear change, but Bob Dylan said it best when he wrote, “You better start swimming or you’ll sink like a stone for the times they are a-changin’.”

Perhaps the most indicative sign of the changing times for the boating world was the surprising announcement last June that U.S. boat manufacturing giant Genmar Holdings had filed for bankruptcy. The company employed about 1,500 people, operated five manufacturing facilities, had 1,100 dealers worldwide and built 15 brands of recreational boats, including Carver, Marquis, Four Winns, Glastron and Larson. Obviously no one was immune from the economic turmoil.

The Genmar brands continue to survive under new organizations, but several other companies were not as fortunate. Despite the enormity of these developments, many boaters were unaware of the upheaval and restructuring of the marine industry. It seemed those boating for recreation were completely isolated from those working for boating. This is unfortunate as it is in everyone’s best interests to have consumers aware of how the boating landscape has changed and what this means in real terms moving forward.

Overall, the slowdown has meant tough choices, but has resulted in some benefits for boaters. While paring back, manufacturers have continued to invest in innovation in order to remain competitive. And, for the most part, the Canadian boating industry has navigated the downturn well. Very few Canadian dealers have gone bankrupt and virtually all manufacturers north of the border are still in production. That being said, our economy is intrinsically connected to the U.S so issues that arise from their struggles inevitably affect Canadian boaters.

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