Issue link: https://read.dmtmag.com/i/459238
www.BoatingIndustry.com 20 | Boating Industry | January 2015 BY JONATHAN SWEET a lthough small, the wake segment has recovered more quickly than other parts of the market and is getting plenty of attention. Boating Industry talked to Bill Yeargin, presi- dent and CEO of Correct Craft, parent company of Nautique Boat Company, one of the biggest players in that segment. Correct Craft also recently acquired the PCM and Crusader engine brands, increas- ing its foothold. Yeargin shared his thoughts on the towboat segment, the boating market as a whole and the future of Nautique. Boating Industry: The wake segment continues to be strong. Why has this segment recovered better than others? YEARGIN: First, it really depends on how you describe strong. The wake segment is just over 50 percent of where it was before the recession and is a small overall piece of the boating market. We have about a dozen brands fi ghting over about 7,000 units. People in the overall boating industry often mention how well they think the wake segment is doing and it is doing better than it was but it is still much smaller than we were, and there are a lot of good brands fi ghting for that business. The segment has, however, recovered better than some others and I think there are two good reasons for that. First, we have a very loyal and active customer base. Wake sports are an important part of their lifestyle. Secondly, the companies in our segment have all done a good job developing new product which we all know attracts buyers. Boating Industry: What's your outlook for the segment in 2015? For the marine industry as a whole? YEARGIN: Jonathan, I wish I had a crystal ball. … The industry now has a few years of growth and we all expect it to continue. However, I do not see any dramatic growth on the horizon. Just slow steady growth. For our segment the latest information says the growth rate is slowing down. It is still growing but at a slower rate. Boating Industry: What's next for the towboat market? What are some of the product features we can expect to see in the near future? YEARGIN: The collective towboat segment has always been near the forefront of our overall industry in innovation and I expect it will stay that way. Our Nautique team has an exciting fi ve-year develop- ment plan and I know we will stay focused on innovation and new product. For a bunch of reasons I am going to dodge your question on specifi c product features but I can say there is good reason to expect continued innovation. The future is bright! with Correct Craft president & CEO Bill Yeargin