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5/14/2024 |  Experience Kissimmee Renews Partnership with Powerboat P1 (SportsTravel) Experience Kissimmee will be a sponsor of the 2024 P1 Offshore National Championship, the UIM Class 1 World Championship, the P1 AquaX USA National Championship and presenting sponsor of this year’s Cowes-Torquay-Cowes Powerboat Race in Great Britain, renewing a relationship with marine motorsport promoter Powerboat P1 that began in 2016.
The sponsorship package offers a platform to raise awareness of the destination both in the United States and Europe through the live audiences and P1’s national and international television coverage. The P1 race season kicked off last weekend with the P1 AquaX season-opener in Daytona Beach and will head to the Space Coast next month for the opening offshore powerboat racing event at Cocoa Beach, Florida.
5/8/2024 |  MasterCraft Boat Cuts Outlook as Sales Fall 43 Percent, Retail Sees Turmoil to Start the Year (SGB UPDATE) MasterCraft Boat Holdings, Inc. beat its own forecast for net sales in its fiscal third quarter, posting revenues of $95.7 million, down 42.6 percent, or $71.1 million, from the prior-year Q3 period. The decrease in net sales for the quarter ended March 31 was said to be due to lower unit volume and an increase in dealer incentives, partially offset by higher prices and favorable model mix and options. Dealer incentives include measures taken by the company to assist dealers as the retail environment remains competitive.
5/7/2024 |  Team Penske suspends senior leadership. What to know about the scandal that has rocked IndyCar (Associated Press (AP)) Roger Penske took a tough stance this week by suspending two senior leaders and two engineers ahead of the Indianapolis 500 as punishment for a cheating scandal that has engulfed his IndyCar team.
The issue centers on Indianapolis 500 winner Josef Newgarden’s illegal use of his car’s push-to-pass system in his March 10 season-opening victory at St. Petersburg, Florida. IndyCar stripped Newgarden of the win and teammate Scott McLaughlin of his third-place finish, docking both and fellow Penske driver Will Power 10 points each and hitting all three with $25,000 fines.
2/8/2024 |  MasterCraft Narrows Full-Year Guidance as Boat Market Outlook Weakens (SGB UPDATE) MasterCraft Boat Holdings, Inc. reported consolidated net sales of $99.5 million for the second quarter of fiscal 2024, down $59.7 million from the second quarter of fiscal 2023. The decrease in net sales was reportedly due to lower unit volume and an increase in dealer incentives, partially offset by higher prices and favorable mix and options. Dealer incentives include higher floor plan financing costs due to increased dealer inventories and interest rates, and other incentives as the retail environment remains competitive.
1/25/2024 |  Marine Products Corp. Sees Q4 Boat Unit Sales Sink 34 Percent (SGB UPDATE) Marine Products Corporation, the parent of the Chaparral and Robalo boat brands, reported that fourth-quarter net sales came in at $70.9 million, down 35 percent from the prior year’s corresponding quarter. 
The decrease in net sales was primarily due to a 34 percent decrease in boats sold during the quarter. A 4 percent increase in gross average selling price was offset by higher retail incentives for a new program announced during the quarter.

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