Brunswick 2024 sales down
The U.S. yachting leader has announced consolidated sales for all its activities for the first quarter of 2024. They totaled $1.365 billion, compared with $1.744 billion in 2023, confirming the Brunswick Group's forecasts, linked to moderate dealer and OEM sales, coupled with higher discount levels in certain areas. Nevertheless, the Group stresses its success in winning market share in various business areas.
Accessories and spare parts less affected
A review of declines in the Brunswick Group's major markets shows a fairly homogeneous picture, despite a few differences.
The Mercury outboard and propulsion segment reported a 23% drop in sales due to lower boat sales and high dealer inventories, despite market share gains and higher engine prices. The brand, says the Group, is outperforming the market, with strong growth, particularly in the over 150 hp segment.
Engine accessories and parts were the best performing sector, down by just 9%. The Navico Group, which groups together Brunswick's electrical and electronic equipment, saw a 24% fall, mainly due to a drop in original equipment sales, despite the release of new products.
Finally, the boat division is also down by 26%. Dealers are cautious in their inventory management after the boat shows. Nevertheless, the Group reports that it anticipated the drop in production well, and partially absorbed its effects by controlling costs.
