Mastercraft and Malibu in trouble?

[JohnE]

Re: Article in Boating Industry Today

Mastercraft slices another 110 employees referencing it as an atomic bomb that has hit the marine industry.

http://www.boating-industry.com/output.cfm?id=2052757

That report is what is spurring much of this discussion.

[SkiTundra]

So if and when a buyer wants to visit a dealer to test and see a certain boat there may not be any. You don't think that might be a problem?

And my understanding is the 'bu has always built boats as they were ordered. So they didn't oversupply anything. Don't you think the lack of financing is adversely affecting their dealers?

I think that will be minimal at best. Many dealers already have boats on the floor from last year and the year before and most can afford to finance themselves for a minimum 'show' of 2 or 3 bestsellers. Many dealers also establish relationships with former customers for test drives (which is what my dealer does).

The core of the problem is that the buyers are simply not there, not that plan co's won't loan money.

I know that our Bu dealer had about 20 boats in stock last July, so at least some Bu's are made to order.

[CradGen2]

WOW it made it to the public

Found this on the web

[SNMike]

Re: WOW it made it to the public

Found this on the web

Did it hit the bridge at high speed? :rolleyes:

[swc5150]

RE: Re: WOW it made it to the public

That's over $300k of boat sitting there! It's just beyond me why they're venturing into that market.

[obie]

Tough to get floor financing for dealers. That is not good for the boat industry. Who's to say that if and when MC, BU, and CC sell off their non-current inventory the credit markets free up? I can't see it, at least not in the next couple of years.

Seems like the banks are punishing the regular folks and small businesses because the government is punishing them. It's one big mess. Everyone is to blame.

[AirTool]

Everyone is to blame.

Don't blame me. I'm clean of guilt and have involuntarily donated THOUSANDS of dollars to the cause.

[JohnE]

Re: RE: Re: WOW it made it to the public

That's over $300k of boat sitting there! It's just beyond me why they're venturing into that market.

Because it seemed like a good idea at the time. :mrgreen:

Seriously by the time the economy tanked they were in too deep to pull out.

[2gofaster]

RE: Re: RE: Re: WOW it made it to the public

A MC300 with all the options would retail at $490,000. STUPID money for a 33 foot boat. The cool thing is you can get it with twin 350hp inline 6 diesels in the V drive config with a bow thruster like a big boat.

[CradGen2]

RE: Re: RE: Re: WOW it made it to the public

I say group buy..... HAHAHAHAHA I'm guessing it has a heck of a surf wake....

[WakeSlayer]

Everyone is to blame.

Don't blame me. I'm clean of guilt and have involuntarily donated THOUSANDS of dollars to the cause.

Ain't that the truth....

[j2nh]

In 2007 MC teamed up with the Penske Group and set a goal of DOUBLING revenues in 5 years. Expansion into foreign markets and developing more product in the 20 to 30 foot luxury line was the goal.
MasterCraft Boat Co. President and CEO John Dorton said in an interview "MasterCraft is moving toward 20- to 30-foot-long boats that will be what Lexis is to automobiles" (knoxnews.com).

And then the bottom fell out. It will be a long time before 30 foot luxury yachts and McMansions come back in vogue if they ever do.

Do what you do best and do it better than anyone else.

[AirTool]

Do what you do best and do it better than anyone else.

I think I've heard that before.

[swc5150]

I'll probably get some disagreements here, but I think the SN200 is a compromise. The 196 was/is the best ski ever boat ever produced. I understand the dollars and sense of making an open bow version identical to its CB counterpart, but what you get is a Prostar 197.

[Nautiquehunter]

I think the 200 is the best parts of the 196 and 206 combined and then improved from there. I cant wait to drive one next season.