Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Tide Turning for Boat Sales?

Details

  • Description

    Thorn Dammrich of the National Marine Manufacturers Association weighs in on boat industry.

  • Duration 3:11
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Out of Washington I am monitoring what is happening here in New York but is that the Javits Center is a few blocks away -- where I am right now in midtown Manhattan.

It is the big boat show and -- -- sales actually.

Up 10% in 2012.

A big chunk of the US economy a lot of jobs out there.

Wire power -- so popular.

How much -- cost little ones sitting on sixty -- thousand dollars or is it that this is some camera he's the president of the national marine manufacturers association.

We talk about the spoke with president wanna get a sense from you most are buds are sold in the United States are made in the United States it was a pretty strong industry.

It is 83% of the votes sold the United States are built in the United States and the US boating industry is -- -- exporting industry as well.

So we employ about 350000.

People -- US in the -- industry.

Wired power boat so popular -- a 10% jump in sales in and frankly the economy we -- -- well.

As a big surprise of a surprise to me why.

Well 2012 was the first significant increase in sales -- we've had in five years so I think -- -- there's some pent up demand that worked there.

As well as you know consumer -- is better than it was a year ago the housing market is starting to improve.

And people are feeling better about making a purchase like this.

What does the 65000 dollar -- there were sitting on a celebrity and this is the 2013.

See your rate to ten SL acts.

Beautiful above the basic but it's a nice -- but people can finance this like they would a -- right.

Actually you can finance a vote like just over ten or fifteen years and you get the payments down -- -- really affordable level.

And this this size it's 41 foot boat this is a very typical -- 98 7% of all the -- in the US.

Are below 26 feet in -- so it's it's really a middle class American lifestyle.

And endorsing a big jump -- that as well -- nice to see these are small business owners be most of the industry.

-- power boat.

Builders sellers etc.

these are small business owners like 97% in the US are.

97%.

Of them though manufactures the dealers the marinas all the -- is that comprising industry are small businesses.

Tell me about the boats -- before -- let you go -- it's happening here in New York it's most of the -- areas of the New York area they're going to be saying but.

You expect to see a lot of.

-- -- -- right hundreds of votes on display along with boating accessories at the -- New York boat show that Javits Center from today through Sunday.

Come on down a get a little bit of face to summer in the -- It definitely by the way it is freezing out -- -- -- -- that we give us see our president not you know.

But also really got the most expensive boats.

At the javits that I might see my head over there bus that's about this week is right going to be about a million dollars.

A million dollars -- chump change not a problem that Tom Garrett thank you very much for bringing obviously the boat for joining me today thank you -- and for braving the cold weather because it is very cold out here Melissa -- but any thing for the Fox Business viewers right ladies but we expect you to sail off into the -- -- -- there.

There are but down the street I'm not sure -- it looks like I'm -- yeah.

It is Coleman's breathing -- that's the last thing -- in the northeast lags the candidate but interesting industry report Carol thanks so much buying coming up in the next hour we.

Load More