Press release from Business Wire
GE Capital Sees Upbeat Boating Industry Leading to MDCE
Thursday, November 14, 2013
GE Capital Sees Upbeat Boating Industry Leading to MDCE08:00 EST Thursday, November 14, 2013
CHICAGO (Business Wire) -- Marine manufacturers and dealers are upbeat about their industry as the U.S. selling season comes to a close, according to GE Capital's Commercial Distribution Finance (CDF) business, a leading provider of dealer financing across North America.
The positive sentiment is expected to be reflected in the mood at the Marine Dealer Conference & Expo (MDCE), which will be held Nov. 17-20 in Orlando, FL. Sponsored by the Marine Retailers Association of the Americas (MRAA), the event gathers together marine dealers to learn the industry's latest trends and best practices.
Bruce Van Wagoner, president of CDF's Marine Group, noted increases in both volume and outstanding credit line usage compared to 2012. At the same time, inventory aging and credit losses remain low.
“Exciting new product introductions as well as increasing pre-owned sales and trade-ins led to healthy consumer demand this year,” Van Wagoner said. “That's reflected in inventory turns of nearly 2.5 times year over year.”
MDCE attendees are invited to visit CDF at booth #1110 at the Orange County Convention Center. For information, go to http://www.mraa.com/event/MDCE.
The conference will culminate with the Top 100 Gala, which recognizes the best-performing marine dealers in North America. GE Capital has been a sponsor/member of the Leadership Alliance since the inception of the Top 100 in 2005.
“This is a great way to honor these outstanding dealers and to energize the industry as a whole,” Van Wagoner said. “We're proud of our ongoing relationship with the MRAA as well as many dealers across the U.S. and Canada.”
For more than 50 years and through all business and economic cycles, CDF has offered customer-centric floorplan financing programs that enable marine dealers to stock a broad selection of new and pre-owned products. Floorplan financing, also known as inventory financing, is an important element of a successful manufacturer-dealer business model as manufacturers and distributors benefit from enhanced product flow and increased sales opportunities, and dealers obtain improved terms and credit availability.
To help dealers and manufacturers achieve continued success, CDF shares data through comprehensive digital tools. By using CDF's enhanced Customer On-Line Management System (COMS), dealers can speed transactions; locate and transfer products; and otherwise manage their inventory. To speak with a CDF representative, interested parties may call 800-451-5944 or visit the CDF web site: http://www.gecdf.com/home.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided nearly $31 billion in financing for more than 33,000 dealers and 2,000 distributors and manufacturers in the U.S. and Canada in 2012. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products. Customers have access to exclusive online tools and analytics to manage their accounts and inventory. For more information, visit http://www.gecdf.com/ or follow company news via Twitter (https://twitter.com/GEInventoryFin).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (https://twitter.com/GECapital).
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
GE Capital, Americas
Lisa Tibbitts, 203-956-4582