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Tommys vs Malibu


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8 hours ago, NorCalSurfer said:

Tommys in Rancho Cordova and Stockton will be soon. They can’t pay 3rd party vendors. So my boat under warranty I can’t get the skins replaced by them because they can’t pay an upholstery shop. I went and picked up the skins and a surf gate actuator. Think about that, they gave me a surf gate actuator to put on myself. 

I bought a Malibu for the warranty and peace of mind. I previously had a Calabria who went BK. At this point I have a Calabria that cost 10x as I have no warranty support now. 

Tommys is done and not a peep from Malibu on how they are going to support their customers as we are all going to be on the water soon, if not already. What if I have a major issue this weekend, why have a boat with warranty when no one can fix it? 

My source told me that Malibu has dealers set up for each location. Final paperwork, etc has to be finished up. They are also working with some local repair shops in areas to get customers taken care of.

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NorCalSurfer
5 hours ago, Stevo said:

I know everyone’s experience is probably different, but @NorCalSurfer keep those skins in the garage for the season or until this gets sorted out and put the surfgate actuator on yourself . Not sure how close you are to the Tommy’s deal ships, but an actuator replacement isn’t that difficult. 
it’s been my experience that taking my previous boats to the Stockton dealership for service /warranty wasn’t the greatest experience.

troubleshooting and fixing your own boat  is a skill more owners should have as it can limit downtime during the months you want to use it.

While I agree with the last statement, I shouldn't have to on a brand new boat. I could have saved over $40,000 buying used if I wanted to do that. I would spend every winter working on my last boat from personally adding surf tabs to doing hard lined ballast, adding all kinds of lights and redoing the stereo multiple times. However, now I have a kid and don't have the time to do these kinds of things nor do I want to on my brand new boat. Also, there's not much I can do when the computer system isn't working properly, I don't care how hands on you are. 

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49 minutes ago, NorCalSurfer said:

While I agree with the last statement, I shouldn't have to on a brand new boat. I could have saved over $40,000 buying used if I wanted to do that. I would spend every winter working on my last boat from personally adding surf tabs to doing hard lined ballast, adding all kinds of lights and redoing the stereo multiple times. However, now I have a kid and don't have the time to do these kinds of things nor do I want to on my brand new boat. Also, there's not much I can do when the computer system isn't working properly, I don't care how hands on you are. 

In the case of buying from Tommy's, at least when I bought mine last year, they have what they call "Always on the water".  If your boat has a mechanical issue and is in service they provide a boat to keep you on the water while yours is getting repaired.  It is good through your first year of ownership.  Not sure it applies anymore, for sure not at the closed stores, but I even have to wonder at the ones that remain open?    

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3 minutes ago, Stevo said:

I would say the overwhelming majority of boat owners have kids, and I’m not discounting your situation, just speaking from my experience I waste less time doing things myself vs hitching up the boat and driving it 1hr+ out to the dealer. Only to have them wear shop shoes on the interior surfaces and leave stainless nuts and bolts in cup holders. 
 

Should you half too, absolutely not, but knowing how these things are put together and operate has saved myself or given me the knowledge to help a friend when they have a problem.

 

Not to mention the whole - most folks are gonna find a problem on the weekend thing.

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MJHSupra

Since I just read about Mastercraft on this thread, it reminded me of the recent Mastercraft earnings call:

 

Fred Brightbill: Thank you, Tim, and good morning, everyone. We delivered results ahead of our expectations in what remains a dynamic and challenging environment for the marine industry. We'll dive into the details shortly, but let me first begin by sharing how pleased I am to be here on my first earnings call as CEO of MasterCraft. My first 6 weeks with our team has been energizing, and it's clear to me that our capabilities and opportunities are even greater than I anticipated. Since I joined the company, I've been on the road meeting with and getting to know our team, our customers, dealers and business partners. And thanks to the openness and preparation of our strong and experienced team, I have learned a great deal in this short time.

. . .

Recently, news that a competitor's largest dealer is in financial distress has heightened this competitive pressure with the potential for higher than normal competitor discounting. Although we made continued progress during the quarter, dealer inventories across the industry including our brands remain higher than optimal. Elevated inventory levels are driving higher carrying costs for dealers. This combined with competitor dealer disruptions is causing dealers to approach ordering with extreme caution. We remain committed to reducing our dealer inventory by the end of the fiscal year to best position the company for a return to growth. Moving forward, we have clearly decline set of capital allocation priorities that we will continue to execute on, including investing in innovation for our customers and sustainable growth for our shareholders.

. . .

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Posted (edited)
1 hour ago, bwski said:

In the case of buying from Tommy's, at least when I bought mine last year, they have what they call "Always on the water".  If your boat has a mechanical issue and is in service they provide a boat to keep you on the water while yours is getting repaired.  It is good through your first year of ownership.  Not sure it applies anymore, for sure not at the closed stores, but I even have to wonder at the ones that remain open?    

Really!?!?!  That's not consistent across Tommy's dealerships.  I asked for a boat when mine was down and was declined every time.  And here I sit.........without my boat.

Edited by Slayer
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46 minutes ago, Slayer said:

Really!?!?!  That's not consistent across Tommy's dealerships.  I asked for a boat when mine was down and was declined every time.  And here I sit.........without my boat.

Its the dealers insurance that dictates loaner boats. I know we didnt offer it because of insurance. 

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12 minutes ago, IXFE said:

Just so I understand… 

Is Mastercraft giving me permission to visit one of their hallowed dealerships, look at their boats, and (wait for it)… make an offer to actually buy one…??  WHAT A GIFT! 😳😳

And if that’s not generous enough, they will ALSO “give it serious thought?” Like for real, are they promising not to laugh at me…??? 🤣🤣

Things must be REALLY bad in Vonore if they’ve completely overhauled their entire business model… you know the one rooted in arrogance, intimidation, lying about the competition, cash back scams, and the like…

Like if this ad is true, it means they’re actually going to be HUMAN. Right, guys? 

I’m sorry, I knew the industry was hurting but I had no idea it was THIS BAD! 
 

 

 

 

 

 

 

on second thought… this has to be a scam, right? Almost feels like one of those phishing attacks. 

The IG comments are priceless.

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On 5/14/2024 at 5:53 PM, MikeR397 said:

Ya we need a healthy dose of deflation though so middle America can afford groceries and basic items again. 

Only going UP 

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2 hours ago, IXFE said:

 

I’m sorry, I knew the industry was hurting but I had no idea it was THIS BAD! 
 

Um yeah getting worse by the day, wish I could share Data without getting someone sacked.. 

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29 minutes ago, JeffK said:

Has it hit bottom yet, probably not. But I think it would be wise to get out of the doomsday mindset. The industry fluctuates, it always has. Nothing bad about that, unless you are trying to buy or sell at that exact moment. This environment is no different than stocks. If you buy high, you hold onto it a little longer to let the market catch up or you just dump it at a loss. If you buy low, you have a chance to sell your boat in a higher market, but you'll also be buying the replacement in the same market most likely, unless you are taking a break from it. I usually try to flip more frequently based on my situation with the folks I work with. Haven't had a lot of interest on mine with the interest rates what they are, so I'll hold it another year. This is the most amazing Malibu they've put out in my mind. Performance, handling, rough water handling, etc. It will move. Was holding onto it my plan? No. Will it work out ok? I'm sure it will. 

Going to be a rough few years to level out the past few crazy years.. on the other hand there may be some deals to be had with the Tommy's situation and or other dealers trying to break even on something here and there over the next year or two.. 

After that though new units will continue to rise in price as raw materials, commodities and labor cost continue to rise and inflation stay stubborn.. You’re going to start seeing more budget lines created and or stripping of options to keep the base price increases"appear" down over the next few years...

Tariffs hikes when implemented (likely) will cause EVERYTHING to soar quickly. As import costs soar don't forget domestic prices follow exactly in line, basically consumers just pay more. 

In short boat prices in a few years will level off at further higher prices and values will continue to rise against a sliding dollars purchasing power.  Essentially we have to inflate things away although the marine market especially is waking up to a MASSIVE hangover right now from that crazy partywe just had!

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blake6551

I was negotiating on a few Tommy's boats last week. Deal still wasn't where I wanted it to be given I'm not close to t hem, so just closed on a leftover 2023 23LSV within a few hours from me. Prices are REALLY good right now at the dealers I was working with. If it wasn't for summer about to ramp up and wanting a boat, I would have held out even longer...

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Considering dealers are still selling boats they purchased 2 years ago (2023 models) and have a glut of 2024 models they purchased a year ago that are unsold, it will be interesting to see which current Malibu dealers are going to take on even more inventory from all the Tommy's inventory.  Also, wonder if Malibu is going eat the cost of the flooring/insurance costs for boats they have shoveled off to the other dealers?  

Talk about a 180 degree turn from 3 years ago with the COVID supply/demand craze in pricing vs. now.  Relatively good timing right now if you want a new 2023 or 2024 Malibu.  

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Posted (edited)
3 minutes ago, Wake4Fun said:

Relatively good timing right now if you want a new 2023 or 2024 Malibu.  

I guess that depends on your cash vs loan position.  Rates are not exactly going down

Not to mention - your trade in is worth less now

Edited by oldjeep
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blake6551
4 minutes ago, Wake4Fun said:

Considering dealers are still selling boats they purchased 2 years ago (2023 models) and have a glut of 2024 models they purchased a year ago that are unsold, it will be interesting to see which current Malibu dealers are going to take on even more inventory from all the Tommy's inventory.  Also, wonder if Malibu is going eat the cost of the flooring/insurance costs for boats they have shoveled off to the other dealers?  

Talk about a 180 degree turn from 3 years ago with the COVID supply/demand craze in pricing vs. now.  Relatively good timing right now if you want a new 2023 or 2024 Malibu.  

I tried negotiating on some 2024s but the higher MSRP plus lack of rebate, the cost difference was substantial and the dealers didn't seem very hungry to move verses leftover 2023s of any flavor. Rates suck though, and from my discussions that is killing a lot of potential deals right now.

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