Tommys vs Malibu

[COOP]

Would this be considered stock manipulation?

 

if the allegations are true this could be really bad news for Malibu, and Jack. 

[Slayer]

12 hours ago, Nick55 said:

Dealers of all sorts generally get some sort of allocation of product based off their performance.  When I worked at a high line European dealer in a past life it happened, usually nothing insane but if the average car we sold was around $100k, it would usually be a single $120k car or a few $50-70k cars.  Generally allocation vehicles were a fairly standard color scheme and option list. There was a 90 day floor plan provided by the manufacturer.  I don’t know if that happens with boat manufacturers as well, but given how product moved I wouldn’t be surprised if that went away in the last two years. But, money was also cheap during that same timeframe, so perhaps they did float the dealers a bit.  

 I could easily see being allocated a 26LSV if you’ve sold some M models, MXZs, or some 25LSVs. If you are only selling 21-22’ boats because nearby lakes have length limits, I can see dealers being pissed about a 25-26’ showing up.  I really want to see what dealer agreements look like for Malibu.  

Reminds me of when Ford had the excursion and forced them on dealers who couldn't sell them.

[oldjeep]

https://www.crainsgrandrapids.com/news/retail/bank-alleges-tommys-boats-defaulted-on-115m-in-loans-seeks-court-appointed-receiver/

That is a pretty fancy looking vertical display in the article pics.  Although that seems to be the way all the local car dealers are going now - big glass inside display "ramps"

[Michigan boarder]

2 hours ago, oldjeep said:

https://www.crainsgrandrapids.com/news/retail/bank-alleges-tommys-boats-defaulted-on-115m-in-loans-seeks-court-appointed-receiver/

That is a pretty fancy looking vertical display in the article pics.  Although that seems to be the way all the local car dealers are going now - big glass inside display "ramps"

It's pretty sweet, right on the backside of the building is US-131 so you see the big display from the highway with the Tommy's sign.  The whole building and set up is only like 3 years old.

[Rmack]

This is not good.   Only dealer in Metro Detroit and Northern Michigan......Who's going to service my baby???

[oldjeep]

12 minutes ago, Rmack said:

This is not good.   Only dealer in Metro Detroit and Northern Michigan......Who's going to service my baby???

For now it sounds like they will.  Until Malibu finds another dealer in area.

[Cole2001]

Any dealer non dealer can service a malibu. They all use the same basic parts for the most part, especially the older ones. It's just warranty that sucks. Experienced this when wizard lake marine lost Malibu

[shawndoggy]

2 hours ago, Cole2001 said:

Any dealer non dealer can service a malibu. They all use the same basic parts for the most part, especially the older ones. It's just warranty that sucks. Experienced this when wizard lake marine lost Malibu

towers / brackets / racks / electronics / vinyl / hardware etc etc etc are all captive manufacturer specific items now.  Shoot, Malibu even marinizes its own engines on the 2020+ boats.  So I'm not sure it's accurate that the boat can be 100% serviced without access to malibu's parts catalog.  Obvs shadetree hacks like myself can change the fluids, but when it comes to replacing a busted heat exchanger or something like that... that's gonna be a malibu specific part.

[Cole2001]

33 minutes ago, shawndoggy said:

towers / brackets / racks / electronics / vinyl / hardware etc etc etc are all captive manufacturer specific items now.  Shoot, Malibu even marinizes its own engines on the 2020+ boats.  So I'm not sure it's accurate that the boat can be 100% serviced without access to malibu's parts catalog.  Obvs shadetree hacks like myself can change the fluids, but when it comes to replacing a busted heat exchanger or something like that... that's gonna be a malibu specific part.

More so the mechanical side of it and basic servicing. Prior to Malibu doing their own engines indmar was the same whether Malibu or not and now the M6 is nearly the same as the zz6. 
Haven’t had a reliable Malibu dealer within a 5 hour drive where I am for 8 years. Let’s just say both the MC/Nautique dealers service the bu’s. And in this situation I’m sure Malibu will be willing to keep their customers by helping to source needed parts. 

[Bozboat]

9 hours ago, oldjeep said:

https://www.crainsgrandrapids.com/news/retail/bank-alleges-tommys-boats-defaulted-on-115m-in-loans-seeks-court-appointed-receiver/

That is a pretty fancy looking vertical display in the article pics.  Although that seems to be the way all the local car dealers are going now - big glass inside display "ramps"

Carvana has a few Spare Vertical Displays

[MalibuNation]

8 hours ago, Rmack said:

This is not good.   Only dealer in Metro Detroit and Northern Michigan......Who's going to service my baby???

There's still Gull Lake Marine on the E side of Kalamazoo, MI.

[Hemmy]

4 hours ago, MalibuNation said:

There's still Gull Lake Marine on the E side of Kalamazoo, MI.

And Coldwater, MI.

[cowwboy]

12 hours ago, shawndoggy said:

towers / brackets / racks / electronics / vinyl / hardware etc etc etc are all captive manufacturer specific items now.  Shoot, Malibu even marinizes its own engines on the 2020+ boats.  So I'm not sure it's accurate that the boat can be 100% serviced without access to malibu's parts catalog.  Obvs shadetree hacks like myself can change the fluids, but when it comes to replacing a busted heat exchanger or something like that... that's gonna be a malibu specific part.

I'd guess malibuboatparts .com will grow to be more integral during this period. I know they stock a lot of the malibu specific stuff. 

[TallRedRider]

I got an email today that Tommy's is selling boats from anywhere to anywhere at the 'Best prices you'll ever see!'  

It is a good time for a new Malibu/Axis if you can get your local dealer to service the boat.   

[oldjeep]

23 minutes ago, TallRedRider said:

I got an email today that Tommy's is selling boats from anywhere to anywhere at the 'Best prices you'll ever see!'  

It is a good time for a new Malibu/Axis if you can get your local dealer to service the boat.   

I suppose - that dealer territory agreement no longer applies

[Sparky450]

11 minutes ago, oldjeep said:

I suppose - that dealer territory agreement no longer applies

I would think dealer territory’s disappeared as soon as Tommy’s had dealerships across the nation. 

[oldjeep]

7 minutes ago, Sparky450 said:

I would think dealer territory’s disappeared as soon as Tommy’s had dealerships across the nation. 

Depends on where in the nation.  Sure, they could transfer boats between locations - but there were still 66% of the territories they did not own

[BLSousa]

25 minutes ago, Sparky450 said:

I would think dealer territory’s disappeared as soon as Tommy’s had dealerships across the nation. 

 

17 minutes ago, oldjeep said:

Depends on where in the nation.  Sure, they could transfer boats between locations - but there were still 66% of the territories they did not own

I assume it their territory restrictions were terminated when Malibu terminated their franchise agreement. 

[NorCalSurfer]

My local Tommy’s said all sales go through M&T Bank. 

[bcoppess23]

3 minutes ago, NorCalSurfer said:

My local Tommy’s said all sales go through M&T Bank. 

I'd be curious if this means you can get the boat just over invoice.

[jeffmx]

That email also says "Shipping of the boat will be the responsibility of the customer".

Now to find one without brown interior, that is another story.

[smuurph84]

 think there is any chance the bank would take a trade ??? asking for a friend 

[Nick55]

I’d be interested to see how a boat deal goes through M&T.  I think most would be relatively smooth (even if you had to do your own financing) because quite honestly, the bank doesn’t want these on their books for long. As far as territories and dealers not wanting to work on boats they didn’t sell, that’s crap….. if that was tried with a car, HD truck, airplane, it would have congress up in arms and pressuring their lobbying interests for change.  I know it’s a free market, but a savvy shop should realize that it’s still a ‘Bu, made by ‘Bu and they have that same logo on the front of their buildings.  Refusing warranty work as a dealer is a fast way to lose your franchise as an automotive OEM, I’d assume it’s the same with marine.  

[Hemmy]

14 minutes ago, Nick55 said:

I’d be interested to see how a boat deal goes through M&T.  I think most would be relatively smooth (even if you had to do your own financing) because quite honestly, the bank doesn’t want these on their books for long. As far as territories and dealers not wanting to work on boats they didn’t sell, that’s crap….. if that was tried with a car, HD truck, airplane, it would have congress up in arms and pressuring their lobbying interests for change.  I know it’s a free market, but a savvy shop should realize that it’s still a ‘Bu, made by ‘Bu and they have that same logo on the front of their buildings.  Refusing warranty work as a dealer is a fast way to lose your franchise as an automotive OEM, I’d assume it’s the same with marine.  

Most car dealers want your service more than the sell of the car.  They make more money on service than sales.  Can't imagine a boat would be any different.

[dshack]

40 minutes ago, Hemmy said:

Most car dealers want your service more than the sell of the car.  They make more money on service than sales.  Can't imagine a boat would be any different.

I don't think it is an issue of whether a dealer would service a Malibu that was bought elsewhere -- it is how the jobs are prioritized when it's July 3 and everybody wants their boat fixed ASAP.