Marine manufacturers and dealers are upbeat about their industry as the U.S. selling season comes to a close, according to GE Capital’s Commercial Distribution Finance (CDF) business, a leading provider of dealer financing across North America.
The positive sentiment is expected to be reflected in the mood at the Marine Dealer Conference & Expo (MDCE), which will be held Nov. 17-20 in Orlando, FL. Sponsored by the Marine Retailers Association of the Americas (MRAA), the event gathers together marine dealers to learn the industry's latest trends and best practices.
Bruce Van Wagoner, president of CDF’s Marine Group, noted increases in both volume and outstanding credit line usage compared to 2012. At the same time, inventory aging and credit losses remain low.
“Exciting new product introductions as well as increasing pre-owned sales and trade-ins led to healthy consumer demand this year,” Van Wagoner said. “That’s reflected in inventory turns of nearly 2.5 times year over year.”MDCE attendees are invited to visit CDF at booth #1110 at the Orange County Convention Center. For information, go to http://www.mraa.com/event/MDCE. The conference will culminate with the Top 100 Gala, which recognizes the best-performing marine dealers in North America. GE Capital has been a sponsor/member of the Leadership Alliance since the inception of the Top 100 in 2005. “This is a great way to honor these outstanding dealers and to energize the industry as a whole,” Van Wagoner said. “We’re proud of our ongoing relationship with the MRAA as well as many dealers across the U.S. and Canada.” For more than 50 years and through all business and economic cycles, CDF has offered customer-centric floorplan financing programs that enable marine dealers to stock a broad selection of new and pre-owned products. Floorplan financing, also known as inventory financing, is an important element of a successful manufacturer-dealer business model as manufacturers and distributors benefit from enhanced product flow and increased sales opportunities, and dealers obtain improved terms and credit availability.