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Marine Industry Data - Canada -- Market For Growth - October 2007
Marine Industry Data - Canada -- Market For Growth - October 2007 |
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Canada -- Market For Growth - October 2007 The big issues that we identified at that time were the rising cost of fuel, the inflationary effect of Canada's booming petroleum industry and the wealth effect of rising housing prices. In the marine industry at that time, many Canadian manufacturers were struggling with the very substantial rise in the value of the Canadian dollar against the American dollar. The US is Canada's largest international trading partner, by far and the Canadian “Loonie” was up 35% in little more than a year against the American dollar. As of March 2008, the Loonie is holding at approximately parity levels with the US dollar as the American housing market suffers ongoing declines against a world-wide backdrop of rising commodity prices. In the Canadian boat market, Service Canada reports that both new vessel registrations and vessel transfers for pleasure craft in the period from April 1 to August 31 of 2007 was 100,015 vessels compared to 94,346 in the same period last year – an increase of more than 6% year over year. Canadian buyers are in the market and Canadian builders seem to have made great strides in terms of adjusting to the US/Canadian exchange rate. Overall, the marine business in Canada is definitely a Market for Growth in the coming year. In this article, you will find Canadian Marine Engine Sales data – 2002 to Present, a new National Pleasure Craft Licensing Report and detailed business data in the various segments of the marine industry. ACCESS THE COMPLETE ARTICLE:
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