Brunswick Corp, the maker of Boston Whaler fishing boats, forecasts sales growth of 25 percent in China this year as the popularity of boating rises, chief executive Dustan McCoy said.
“We believe the long-term potential in the marine business is larger than anywhere else in the world,” McCoy said in an interview yesterday. “There is so much wealth here it is unique. Boating culture will take hold very strongly.”
Government attempts to clean up the country’s lakes, a growing appreciation of family-oriented -leisure pastimes and rapidly increasing prosperity are driving demand for everything from dinghies to yachts, McCoy said in Hainan Province, China, where he attended a luxury fair.
Photo: EPA
The Lake Forest, Illinois-based company sold about 55 boats to China last year, accounting for 35 percent of the 180 boats shorter than 40-feet-long (12m) that were imported into the country. McCoy said Brunswick is the Chinese market leader in that class.
Brunswick expects its sales growth in China this year to match the 25 percent last year, he said.
China’s market is ripe for larger boats and the company plans to introduce its Meridian and Hatteras yachts that are as long as 100 feet, McCoy said.
Brunswick’s vessels on display at the Hainan fair included a 47 foot-cruiser, the Meridian 441, which sells in China for 9.5 million yuan (US$1.5 million) inclusive of taxes.
China imposes a 43 percent levy on imported boats, according to data from China Customs.
The nation accounted for 1 percent to 2 percent of global yacht sales of US$3.4 billion last year, the executive said.
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