Legislation passed in support of US industry growth - MarineBusinessWorld North America newsletter
by Peter Rendle 9 Jul 08:00 PDT
Monthly Recreational Boating Industry Data Summary report © National Marine Manufacturers Association
On Friday, President Trump signed what he referred to as "one big beautiful bill": legislation that preserves key provisions from the 2017 Tax Cuts and Job Act (TCJA). These provisions will continue to support growth, investments and job creation across the marine manufacturing sector. The enactment of this pro-growth tax code is critical to supporting small businesses and keeping American marine manufacturing globally competitive.
From the American Sports Fishing Association came this comment. Last week, President Trump signed the One Big Beautiful Bill Act into law, codifying the elimination of de minimis beginning in 2027. This industry priority will level the playing field for U.S. manufacturers and support fisheries conservation efforts. The de minimis threshold allows imported goods valued under $800 to enter the United States duty-free and also permits overseas manufacturers to evade paying the federal excise tax on sportfishing equipment.
The NMMA's latest Monthly Recreational Boating Industry Data Summary report, covering the rolling period from May 2024 through April 2025, points to continued headwinds with new powerboat retail unit sales down 9% year-to-date (Jan-Apr 2025) compared to the same period last year. A total of 64,883 new boats were sold through April, down from 71,321 in 2024.
Simrad Yachting, a leader in marine electronics and navigation, today introduced the new AutoTrack™ feature for its HALO® 2000 and HALO 3000 Radars. The new feature brings automated tracking to the world's most intuitive and easy-to-use radar system. AutoTrack* automatically detects, tracks, and prioritizes moving vessels and other targets, enhancing situational awareness and improving on-water safety.
A quick look at the annual U.S. Coast Guard recreational boating accident statistics shows "operator inattention" and "improper lookout" to be perennial placeholders in the top five primary contributing factors in boating accidents. A free online micro course aims to address the issue by helping boaters avoid distracted boating and enhance situational awareness and boating safety skills. The course is designed to make boating safety instruction accessible and fits into busy schedules, typically taking less than 30 minutes to complete.
Marine Products Corporation (NYSE: MPX) announced today that it will release its financial results for the second quarter on July 24 before the market opens. In conjunction with its earnings release, the Company will host a conference call to review the Company's financial and operating results on July 24 at 8am Eastern Time. For interested individuals unable to join by telephone, the call also will be broadcast and archived for 90 days on the Company's investor website.
Quick Nautical Equipment, a flagship brand of Quick Group and a global leader in marine equipment innovation, is proud to confirm that the integration between Quick Nautical Equipment's bow thrusters and Mercury Marine's Joystick Piloting system is now officially available on the market.
BRP Inc. (TSX:DOO; NASDAQ:DOOO) today announced that it has entered into a definitive agreement whereby members of the Marcott family, owners of Bentley Pontoons, will be acquiring Manitou assets in Lansing, Michigan. This transaction comes on the heels of BRP's decision to sell its Marine businesses to double down on its core Powersports activities, enhancing its position for long-term success.
Peter Rendle - peter.rendle@worldmarine.media