MRAA Announces Young Leaders Advisory Council

MINNEAPOLIS – The Marine Retailers Association of the America announced today Co-Chair officers and six new members for its Young Leaders Advisory Council (YLAC). The council, exists to elevate the boating industry for both consumers and industry stakeholders through conscientious involvement with the MRAA as young marine professionals. With a fresh perspective, YLAC members are ambassadors who aspire to influence the business, shape future initiatives and evolve into future industry leaders.  

YLAC Chair Susan Duquette is President of Lakeview Marine Inc. in Webster, Massachusetts, and, as a Director At Large, represents the council on the MRAA Board of Directors. Michael Morrison, Director of Finance at Port Harbor Marine in South Portland, Maine, is the newly appointed YLAC Co-Chair. 

“We have an excellent group of enthusiastic young leaders on board,” says Sarah Korbel, MRAA Events and Operations Manager. “We’re looking forward to connecting YLAC’s mission with MRAA’s recently announced Strategic Plan so we can better serve our membership and industry.”  
View MRAA Strategic Plan

New YLAC Members: 
  • Ashlynn LaLonde Olson, Hutchinson’s Boat Works, Inc. 
  • Christian Hansen, Idaho Water Sports 
  • Grace Soucy, One Water 
  • Heather Mess, Marine Max, Inc. 
  • Kenda Kennard, Huntington Distribution Finance 
  • Wendy Ramsey, Pirate Cove Marina Inc. 
Returning council members: 
  • J Hurless, Reeder-Trausch Marine 
  • Jay Poole, Buckeye Marine 
  • Krista Sparkes, Smoker Craft, Inc. 
  • Ryan Kennedy, Morgan Marine 
  • Sarah Korbel, MRAA

The mission of the YLAC is to supplement and support the mission of the Board of Directors of the MRAA. The council provides guidance as to the current state of the marine retailers’ day-to-day operations, both in challenges and opportunities. YLAC strives to set the example in identifying, inspiring, recruiting and onboarding key younger generation members to participate in the association, facilitating the future growth and success of the MRAA. 

Interested in joining the council? 
Submit your application to be considered during the review period this fall. For any questions, please email sarah@mraa.com. 

About the Marine Retailers Association of the Americas 

At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043. 

MRAA Adds 4 New Employees to Amplify Education, Membership, Sales and Marketing Efforts

MINNEAPOLIS, February 8 – The Marine Retailers Association of the America announced today that it has added four new employees in Design Coordinator Grace Schmidt, Online Education Manager Angela Murphy, Sales & Marketing Specialist Gabrielle Ronnenberg and Membership Specialist Jennifer McLachlan.

“We are delighted to add these outstanding individuals to the MRAA team and continue to build a stronger organization that enables us to better deliver on our mission,” says Matt Gruhn, MRAA President. “Their expertise and skillsets will help us deliver greater value for our dealers and the industry, while also contributing to the continuous enhancement of our programs and services.”

From left, Sales and Marketing Specialist Gabrielle Ronnenberg, Membership Specialist Jennifer McLachlan, Design Coordinator Grace Schmidt, Online Education Manger Angela Murphy.
Grace Schmidt — Design Coordinator

Schmidt will coordinate and execute design projects, including graphics, publications and advertisements, related to MRAA marketing and education-based deliverables. Schmidt, who holds a bachelor’s degree in Graphic Design, has professional experience as a freelance designer and artist. In her free time, she loves painting, playing cards with her family and exploring new cities with friends.

“In my beginning days with the MRAA I have had only incredible things to say about the people, vision and drive that this company is made up of,” says Schmidt. “I strive to be a lifelong learner and have found myself feeling so thankful to work in a place that prioritizes education and growth both internally and externally!”

Angela Murphy — Online Education Manager

Murphy will manage MRAATraining.com, MRAA’s Continuous Certification Curriculum, Dealer Week Online, MRAA’s Ask the Expert Webinar series and other e-learning products. Murphy, who has a Master’s Degree in Education with a focus in Technology Integration, brings a wealth of educational proficiency, having served as a schoolteacher for many years. Outside of work, she enjoys crafting and spending time with her family. Her idea of the perfect day is floating on the lake in the family boat.

“I couldn’t be prouder and more excited to be a part of such a passionate team that has such a deep-rooted dedication to supporting and serving boat dealers and the entire marine industry,” says Murphy. “I am honored to be able to support the industry by creating and managing educational content that helps dealers succeed and improve their business outcomes.”

Gabrielle Ronnenberg — Sales & Marketing Specialist

Ronnenberg will oversee deliverables for MRAA’s Partner Memberships and Dealer Week exhibitors and will work with the MRAA sales and marketing teams on specialty projects. Ronnenberg, who holds a bachelor’s degree in Global Communication and Media Studies, has previous expertise in customer service, marketing and communications roles for legal, medical, tax and accounting and non-profit industries. Outside of work, she enjoys spending time with her family, traveling, participating in outdoor activities and drawing.

“MRAA’s strong emphasis on investing in employee development and creating a fun and welcoming office culture is what drew me to apply for this position,” says Ronnenberg. “It is clear to see how passionate everyone who works here is about cultivating a thriving boating industry – and it’s very easy to get behind that mission.”

Jennifer McLachlan — Membership Specialist

McLachlan will create, implement and monitor member onboarding, engagement and retention plans for MRAA. McLachlan, who has a degree in Marketing and Professional Sales, previously worked for a boat dealer as a service writer and warranty administrator. In her free time, she enjoys traveling, reading, boating and baking.

“I’m excited to join such a dedicated and passionate team of people,” says McLachlan. “I feel that my background will provide a unique perspective and allow me to support dealers and retailers in their continued success.”

About the Marine Retailers Association of the Americas

At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.

TEXA USA Releases TXT MULTIHUB

• Device Innovation provides Smarter Connectivity for multi-environment vehicle interfaces

• Built-in display to visually confirm connection status, new protocols and connection options for versatile modular vehicle diagnostics

• Stand alone Linux operating system for adaptable vehicle connection and greater security

• New certified durability for rugged environment use

Today’s repair specialists must be capable of working at their best on a range of complex vehicle types and systems while using different diagnostic protocols and connection modes. It is for this reason, TEXA developed the TXT MULTIHUB. An advanced diagnostics vehicle communication interface that easily adapts to any vehicle connection in the shop or in the field with greater speed and reliability to confirm needed service faster. TXT MULTIHUB is the only diagnostic tool capable of scanning passenger cars, heavy-duty vehicles, motorcycles, ATVs/UTVs, boats, agricultural and construction vehicles by operating with all of the TEXA IDC5 Licenses, to provide a versatile multi-brand modular diagnostic environment.

Boat tech in blue cap and polo shirt sitting on a boat using the new TXT MULTIHUB on an outboard motor.
TXT MULTIHUB is ready to operate in any configuration, even switching from a standard diagnosis to Pass-Thru automatically.

At all times, the TXT MULTIHUB provides Smarter Connectivity by featuring a built-in backlit display to visually confirm connection status, functioning modes and more importantly the vehicle system battery voltage, so techs can confidently complete important procedures like module programming. The TXT MULTIHUB confirms constant control by displaying more than 40 messages during diagnostic operations, like connection status as Standard, DoIP Wi-Fi, DoIP Ethernet, Pass-Thru.

Equipped with a Linux Operating System, the TXT MULTIHUB automatically switches the channels based on the vehicle connection and type of diagnosis, removing the chance for technician mistakes. This stand-alone system provides greater usability and software security, the opportunity to update the software and seamlessly adapt to new future features.

The TXT MULTIHUB provides Certified Durability features to ensure rigid use will not hold back technicians from completing repairs. Equipped with a reinforced body and anti-shock rubber corners, the MIL810 transit drop testing and IP53 category 2 weather and elements protection testing, confirm the TXT MULTIHUB will operate well in rugged environments.

Ensuring Advanced Connectivity for all vehicle systems, the TXT MULTIHUB provides greater flexibility for vehicle coverage, advanced speed and software reliability. The TEXA IDC5 software communicates with the the TXT MULTIHUB unit through a Wi-Fi module for the diagnostic operations that use RP1210 (HD pass-thru protocol), standard CAN, CanFD and DoIP protocols; a network cable (Ethernet) reserved for DoIP operations (ISO 13400); a Bluetooth module for conventional diagnoses; a USB socket for all types of diagnosis, including the Pass-Thru (SAE J2534-1 and SAE J2534-2).

Front view of black TXT MULTIHUB device from TEXA.
TXT MULTIHUB

Connecting to the unit in Station Configuration mode, by using a Wi-Fi network or smartphone network, guarantees greater coverage and a quicker exchange of data between the TEXA IDC5 software. When using the Hotspot Configuration, a “point-to-point” wireless connection can be created between the TXT MULTIHUB and the TEXA IDC5 software. This is a very useful option when a fast Wi-Fi connection speed is not available.

TXT MULTIHUB allows easily performing the diagnosis on vehicles equipped with DoIP Technology (Diagnostic over Internet Protocol), even in Wi-Fi. Developed to manage the massive presence of electronics in vehicles and the considerable amount of processed diagnostic data, this standard requires using a connection based on the IP protocol. Pass-Thru, direct access to the manufacturers’ data TXT MULTIHUB, as already stated, is ready to operate in any configuration, even switching from a standard diagnosis to Pass-Thru automatically. It is compliant with the SAE J2534-1 and SAE J2534-2 regulations, therefore it can connect to a vehicle and provide direct access to the diagnostic and maintenance data made available by vehicle manufacturers.

Previously released at the November 2022 AAPEX trade show, the product inventory is now available. Contact the TEXA USA team to discuss questions or confirm local dealers you can purchase the new TXT MULTIHUB and licenses to operate the TEXA IDC5 software for the vehicles your team is repairing.  www.texausa.com

CONTACT:

• TEXA USA Managing Director, Dario Peruch – Tel. 732-668-7393; dario.peruch@texa.com

• TEXA USA Sr. Marketing Manager, Daniel Bemiss – Tel. 848-565-8572; daniel.bemiss@texa.com

Regulator Marine, MRAA Expand Partnership

MINNEAPOLIS — The Marine Retailers Association of the Americas and Regulator Marine expanded their partnership recently, through both MRAA membership and participation at Dealer Week 2022.

Late in 2022, Regulator Marine, a leading manufacturer of offshore fishing boats, signed on to support the MRAA as a Platinum Partner Member. Their commitment to support the association at this level helps to fund and endorse MRAA’s growing list of programs, services and benefits that fuel the success of marine dealerships and their teams.

Additionally, Regulator Marine hosted a regional dealer meeting in conjunction with MRAA’s Dealer Week Conference & Expo, which was held in Austin, Texas, in early December. The partnership with these two events gave Regulator dealers unique access to MRAA’s educational programming and the vast array of business solutions and networking opportunities found in the Dealer Week Expo Hall.

Regulator Marine

“At Regulator Marine, we believe in and support the powerful educational programming that MRAA produces for our dealers,” says Keith Ammons, VP Sales and Marketing at Regulator. “Partnering with MRAA means we can work to ensure our dealers are members of the association, have access to the benefits the association provides and the educational content they deliver and help to support the important advocacy work MRAA does to protect and promote the business of selling and servicing boats.”

Regulator’s high standards for quality and consistency are critical to its product line, which benefits from detailed processes that have been honed over decades and that ensure dealers and consumers are getting nothing short of engineering perfection, as well as the fit and finish expected from Regulator. The high quality products Regulator produces attracts and supports an industry-leading dealer network, which Regulator supports through innovative programs and partnerships, like the one it has developed with MRAA.

“Regulator Marine has demonstrated an innovative approach to developing and strengthening its dealer network, and our team at the MRAA is honored that Regulator’s leadership team has chosen to put its faith and confidence in our programs,” says Allison Gruhn, Vice President of Business Development. “We believe this partnership and the alignment we have on helping dealers grow and improve can produce great things, both for Regulator and for its dealer network.”

About Regulator Marine  
In 1988, Regulator Marine set out to reinvent the deep-vee center console experience and engineered what is known today as the Legendary Ride. Built in North Carolina and tested against the challenging conditions of the Outer Banks, Regulator boats are seriously tough sportfishers known for their exceptional fit & finish, as well as a dry, soft, and comfortable ride. Designed for ultimate fishability, incredible comfort, and serious performance at every turn, each boat in our line delivers maximum versatility as you pursue the Offshore LifeTM.

About the Marine Retailers Association of the Americas
At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.

Roswell Marine Audio Supports the MRAA as a Platinum Partner Member

MINNEAPOLIS — The Marine Retailers Association of the Americas announced today that Roswell Marine joined The Association as a Platinum Partner Member.  

Through Platinum Partner Membership, Roswell Marine supports the MRAA, its programs and the opportunities the association provides the dealer body in an effort to fuel the success of the industry. Commitments from Platinum Partners like Roswell Marine allows for the expansion of MRAA’s offerings and creates a positive, long-term impact for its members.  

Roswell Marine Audio aims to revolutionize the marine industry with a signature sound engineered for perfection on the water. Roswell Audio line is celebrated by enthusiasts and the world’s top boat manufacturers in applications where unmatched clarity, power, durability, and style is demanded. as Roswell Audio evolves beyond sound alone to define a culture of acoustic perfection, it has become a catalyst for new experiences. 
 

Roswell, for the first time, exhibited at Dealer Week 2022 in Austin, Texas, where they showcased their R1 Marine Audio 6.5-inch & 8-inch marine speakers. Created without compromise, these speakers introduced new possibilities in marine audio, inspiring the development of the Roswell R1 audio line. 

“It was great to have Roswell Marine Audio attend its first Dealer Week event in Texas last December and now offer its support as a member,” says Allison Gruhn, Vice President of Business Development. “Technology plays a huge role in defining the boating experience for dealers and their customers. Roswell Marine Audio’s innovative courage and leadership is a terrific addition to our list of Platinum Partner Member.  

About Roswell Marine   

For 25 years, Roswell Marine has remained at the forefront of innovation; designing, engineering and manufacturing products for the world’s top boat builders. A vision focused on improving every experience on the water gives Roswell Marine an edge in delivering premium products that revolutionize the industry with award-winning results. 

About the Marine Retailers Association of the Americas 
At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043. 

MRAA Launches Updated Strategic Roadmap

• MRAA staff, board and strategic partners set updated priorities for the association’s work in serving North American dealerships

MINNEAPOLIS – The Marine Retailers Association of the Americas finalized a three-year strategic plan that seeks to further strengthen how the association fuels the success of the marine industry. Through expanded dealer training and educational programs and a focus on higher levels of industry engagement, MRAA’s plan puts an overarching emphasis on helping the industry deliver a world-class customer experience.

Full MRAA logo

The 2023-25 MRAA strategic roadmap resulted from collaborative efforts and a two-day meeting among MRAA staff, its board of directors, members of its Young Leaders Advisory Council, and its Strategic Partners. The group of nearly 50 people sifted through multiple MRAA member and non-member surveys and more than 45 individual, one-on-one dealer conversations; to establish a trio of MRAA priorities:

  1. Expand solutions that drive dealer success
  2. Engage more dealers and manufacturers in MRAA’s programs
  3. Promote marine retail strength through data, advocacy

“Over the course of the last 10 years, MRAA has built a comprehensive catalog of dealer training and educational solutions, including customized member benefits, free webinars and publications, 240-plus online courses, a robust Dealer Week conference and expo, and a revitalized Dealership Certification Program,” explains Matt Gruhn, MRAA President. “What we heard from our meeting participants, as well as the nearly 50 other dealer voices they brought to that meeting, was that today’s dealers need more focused training options, including position-specific training and credentialing, to help them strengthen their businesses, overcome the workforce challenges they face and ultimately deliver a better overall customer experience.”

While much of the strategic roadmap provided insights into tactical work that MRAA will focus on, such as building new education and training programs, creating retail data dashboards, and efforts to reduce industrywide Repair Event Cycle Times, the group also put a major focus on driving engagement levels with MRAA’s programs. Those efforts include promoting the benefits of Dealership Certification, both throughout the industry and to consumers; sharing the immense value of MRAA’s work on behalf of dealers and the industry; and becoming an even stronger dealer development option for manufacturers and suppliers.

To view the MRAA Strategic Plan, click here.

“What I love about this plan is not just that it perfectly mirrors MRAA’s reason for existence, but also that it was literally created by our dealers, boat builders, engine manufacturers and suppliers in an effort to help us continue to improve the boating industry,” says MRAA Board Chair, Jeff Strong, of Strong’s Marine. “We invite anyone out there who could use some help in strengthening their teams or their presence at the retail level — dealers, manufacturers and suppliers alike — to connect with the programs the MRAA team has to offer and change your business for the better.”

Participation in the MRAA strategic planning process included MRAA Strategic Partners Bennington Marine/Polaris, Boats Group, Brunswick Dealer Advantage, Correct Craft, Lightspeed, Malibu Boats, Inc., Smokercraft, Inc., Volvo Penta, Wells Fargo, Yamaha Marine Group, the National Marine Manufacturers Association and the Recreational Boating & Fishing Foundation. Dealer participation included representatives from Allen Harbor Marine, Boaters Exchange, Buckeye Marine, Cleveland Boat Center, Hagadone Marine Group, Hoffmaster’s Marina, Lakeview Marine, MarineMax, Mount Dora Boating Center, Inc., One Water Marine, Petzold’s Marine, Port Harbor Marine, Reed’s Marine, Strong’s Marine, Superior Boat Repair & Sales, and Taylor’s South Shore Marine.

About the Marine Retailers Association of the Americas

At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.

MRAA Adds Two New Partner Members in January

MINNEAPOLIS, — The Marine Retailers Association of the Americas (MRAA) announces two additional supporting organizations to its growing list of MRAA Partner Members.

Marine manufacturers, suppliers and service providers, through Partner Membership, commit to aligning their brands with the programs and opportunities that MRAA offers in its efforts to fuel the success of the marine industry. Support from Partners allows the Association to expand its offerings and create a positive, long-term impact in MRAA members’ business.

MRAA’s two new Partner Members, each of which bring innovation and support the Association’s member companies, commit their mission to supporting the marine industry by partnering with the MRAA: 

• Find it Now USA (Marine Security GPS) (Spring Hill, Florida)

• Groupe Beneteau Americas (Annapolis, Maryland)

“Both of these organizations add unique product offerings to our growing list of supporting Partner Members,” said Allison Gruhn, MRAA Vice President of Business Development. “Because of their support, MRAA is better equipped to fulfill our mission of serving the marine industry and our dealer members.”

MRAA encourages its dealer members to explore these two new partners, along with the entire list of companies that actively support the MRAA across four levels of partnership. View the full list.

About the Marine Retailers Association of the Americas

At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.

MRAA Announces 2023 Board of Directors, New Chair

MINEAPOLIS – The Marine Retailers Association of the America has announced a new roster of board members, as well as a new Chair of the board.

Jeff Strong, President of Strong’s Marine in New York, has been named the Chair of the MRAA Board of Directors. Strong has owned Strong’s Marine since 1992, growing the family-owned dealership into an 8-location dealership with 200 employees during the peak summer months.  

jeff Strong
Jeff Strong, Strong’s Marine President

“Serving on the MRAA board and now as Chair, for me, is all about giving back and helping to improve and grow the marine industry,” says Strong. “MRAA’s mission is to drive dealership success. And MRAA’s robust training programs, with their wide array of tools and resources, along with all of the benefits of MRAA membership, have long been the focus of our strategic roadmap. I’m looking forward to continuing MRAA’s legacy of delivering on that promise.”

Joe Lewis of Mount Dora Boating Center and Marina in Mount Dora, Florida, has been named the Vice Chair of the MRAA Board of Directors. Hagadone Marine Group President Craig Brosenne has been named the new Secretary/Treasurer. Strong, Lewis and Brosenne, along with Immediate Past Chair, Rob Soucy of Port Harbor Marine in Maine, make up the MRAA’s Executive Committee.

New additions to the MRAA Board of Directors include Brandon Sharpe, Sales Manager at Arrowhead Yacht Club & Marina in Oklahoma, as the Regional Director for MRAA’s Region 9 (AR, LA, OK, TX), and Susan Duquette, President at Lakeview Marine in Massachusetts, is a new Director At Large, representing MRAA’s Young Leaders Advisory Council.

Returning MRAA Regional Directors include:

  • Region 1 (ME, MA, NH, VT) – Craig LeBlanc, Allen Harbor Marine Service
  • Region 2 (CT, NJ, NY, RI) – Bob Petzold, Petzold’s Marine Center
  • Region 3 (DE, DC, MD, PA, VA, WV) – Jason Murphy, Norfolk Marine
  • Region 4 (KY, NC, SC, TN) – Stacy Greenwood, Cleveland Boat Center
  • Region 5 (AL, FL, GA, MS) – Paul Berube, Boaters Exchange
  • Region 6 (IL, IN, MI, OH) – Chad Taylor, Taylor’s South Shore Marine
  • Region 7 (MN, SD, ND, WI) – Jason Shallcross, Reed’s Marine
  • Region 8 (CO, IA, KS, MO, MT, NE, NM, WY) – Jeff Siems, Blue Springs Marine
  • Region 10 (AK, AZ, CA, HI, ID, NV, OR, UT, WA): Bob Bense, Superior Boat Repair & Sales
  • Region 11 (Canada): Carly Poole, Buckeye Marine

“We are thankful for this talented group of dedicated marine industry professionals, who will help guide the MRAA to continuous improvement and achieve our mission to provide boating industry businesses with opportunities for greater success and growth,” says MRAA President Matt Gruhn. “As individuals, they have proven themselves as accomplished business leaders. Collectively, their shared expertise of dealership operations and immense understanding of the marine industry will certainly help the MRAA reach new heights in our efforts to nurture the dealership body and the industry at large.”

About the Marine Retailers Association of the Americas

At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.

RDS Reinsurance Symposium

INDIANAPOLIS – Relentless Dealer Services (RDS), recently announced its “RDS Reinsurance Symposium,” for auto, marine and RV dealerships.

“Every day as our team travels throughout the country, we hear questions from dealers interested in learning the detailed opportunities with reinsurance,” said Jamison Carrier,  RDS President. “We’ve designed this event specifically to answer those questions.”

Although space is limited, the event is open to dealers of all sizes – from small dealers who aren’t yet participating in reinsurance to large dealer groups looking to maximize their positions to vendors.

The all-star lineup of expert speakers includes:

  • Coby Mavroulis, VP Profit Participation, National Auto Care
  • Cliff Childers, Managing Director, Portfolio
  • Spencer Wanderon, VP of Sales, National Auto Care
  • Paul Schrank, President, Asterix Global Services
  • Steven Cegelka, VP of Operations, Asterix
  • Yancy Spivey, President, YS Asset Management

Experts will cover:

  • Reinsurance basics
  • Tax advantages
  • Regulatory challenges
  • Investment options
  • Industry trends.
Jamison Carrier, RDS President, headshot image
Jamison Carrier, RDS President

RDS is committed to helping dealers build long-term wealth through participation programs including retros, DOWCs and offshore companies.

An MRAA Partner Member, Relentless Dealer Services is a leader in F&I, focused on the RV and marine industries. Their F&I utilizes cutting edge analytics, expert training, flexible reinsurance options and remarkable F&I Products. The RDS team is passionate about working with dealers to transform the norms of F&I to the next level. Their products, training and support protect dealerships, provide exceptional customer experience and relentlessly drive performance to unrealized levels.

The event is February 15-16, at RDS Headquarters in Indianapolis. To sign up, go to https://www.relentlessdealerservices.com/info-submit  For more information, reach out to Jamison Carrier,  jamison@RDSdrive.com;  765.277.9423

Marine Industry Insights: Boat Values, Seasonality and Prepping for a Return to the Norm

• Lenny Sims, VP Business Development/Strategy – Specialty Vehicles for J.D. Power and the MRAA Discuss Insights on the Current Marine Market
Drew Mick, MRAA Data Specialist

By Drew Mick, MRAA Data Specialist

Drew Mick: The overview suggests that boat values started 2022 high but then flipped in the latter part of the year. This is in stark contrast to what was happening in 2021, when we were talking about signs that the market had gone crazy. Can you dig into what was happening last year, compared to 2021, that drove this change?

Lenny Sims: When you look at 2021, things were still on that skyrocketing trend that started in 2020, which all came because of Covid. Boating was seen as an escape. Price went out of control. At the end of the day it’s all supply and demand, and boats were no exception. What we were starting to see with 2022 is a return to the norm. For instance, seasonality was hardly a thing in 2020 and 2021, yet here in 2022 it is beginning to show again. When everything seems down in 2022, it’s really just a flow or trend back to where things were before. And if you take that all into account, things are still slightly on the incline, especially when you compare it to 2019, our last “normal” year.

Also, what are the possible repercussions of this change for the dealer in 2023? What about for the dealer and their sales team? How can dealers use this information to help them outperform the market in 2023?

In terms of repercussions for dealers, I hesitate to even call it a repercussion, but what this means for dealers in 2023, they need to be more conscientious and pragmatic with trade-in allowances and the amount of trade-in value they are going to give to consumer who are looking to buy new product.

Looking at the Marine Values vs. Traffic data, there seems to be little difference across the year in terms of Average Retail Value, with the exception of a slow decrease throughout the last quarter of the year. What insight can dealers take away from this data? How can and should they use it to make better decisions?

This could parallel what I said before for the first question. Seeing a decline in traffic for that final part of the year is typical in your average year. As I mentioned before, 2022 is seeing the return of seasonality in the normal yearly cycle. So when you look at this data, and see that slight decline, it is nothing to be concerned about at all.

In comparing the 2022 year-end report to the 2021 year-end report, it appears you broke the boat categories out differently. What was your reasoning for breaking down the categories the way you did? Is there a trend you’re trying to identify or isolate?

This was simply due to wanting to change how we reported this data, and admittedly this is subject to change again. While we kept our marine categories limited in our last year-end report, we saw that this year, we had the ability to do more with it, so we wanted to try it out.

The Model Years data sheds light on consumer interest that perhaps can help dealers make decisions on what pre-owned inventory to acquire. Generally, there seems to be a steady decline the further we go back, but I am wondering if the slight 2008 “bump” is noteworthy?

The answer to this may be fascinating to some, but boring to others. Typically, the operating window for our data is 15 years. When people come in with a boat to trade in or sell, the dealers look in their system for the best comparisons. Obviously, the best way to do this is comparing year to year, but if the boat year falls before this 15-year window, dealers will simply go to the next best thing: comparing to the lowest year available. This would potentially lead to that slight uptick.

Please tell us about the story the Fuel Price Data graphs might tell a dealer. For example, is this evidence that high fuel prices are impacting web traffic more now and in 2022 than in 2021 and 2020? And/or could some of this downward movement simply be the usual seasonality?

The better story with looking at this data is how each boat type compares to each other. For example, when looking at the chart for outboard boats and stern drive boats, this would tell me that outboards are more affected by fuel prices than stern drive. There is much more movement happening with them. The same can be said with the inboard boats and personal watercraft chart, with more volatility happening with the former. Another important thing to keep in mind with this is that the movement in the traffic tends to be about a month behind any changes in fuel pricing.

Can you shed some light on any other big takeaways or key indicators in this report that are meaningful to you and provide valuable insight to marine dealers and their staff

My final thought that I really can’t emphasize enough is that dealers need to realize that we are on a return to the norm. The days of swinging for the fences and hitting home runs are over. The trend is leveling back to the standard, so dealers will need to return to those practices that were working for them before these past two crazy years. To continue the baseball metaphor, singles and doubles are just fine in winning a game.

MORE DATA: For more information about trends in boat values, download the J.D. Power Market Insights 2022 Report. This is the first in a series of quarterly reports we will be publishing in the MRAA Resource Center. For an overview of J.D. Power and its boat valuation process, see the MRAA’s previous Q&A session with Sims on the 2021 Marine Market Insights Report.