Reported in the Wall St Journal, Brunswick Corp. (BC) says its third-quarter loss narrowed from a year ago and anticipates increasing production of recreational boats and engines early next year to resupply its dealers.
Brunswick, the world's largest producer of recreational boats by sales, curtailed production sharply this year to clear out a glut of unsold inventory. Third-quarter production of boats fell 70% from the same period in 2008. The company also resorted to steep discounts to move unsold boats and engines.
As a result, third-quarter boat sales sank 62%.