Off to a solid start
Jan 28, 2025
On Sunday, January 26th 2025, the Toronto International Boat Show closed out their 2025 show on a high note. New boat sales have been a challenge and the recent economic conditions have also been a drag on the market as interest rates were declining throughout the past year encouraging buyers to stay on the sidelines. Political uncertainty adds to the drag and the unsettling effect that Donald Trump has had on markets the world over, amplified that uncertainty. Then Canada‘s Prime Minister announced that he would step down as threats of trade tariffs emerged as a growing headwind that the industry just doesn’t need. It’s like a new version of the Luxury Tax hammering sales again. I suspect that many exhibitors arrived at the Toronto International Boat Show feeling very uncertain about sales prospects for the coming year.
But then, when the doors opened on January 18th, the Public was treated to a packed show floor with a wide selection of new boats, including a few brands that I hadn’t even heard of before and from the get-go, the crowds seemed solid and the attendance was encouraging. Show management has done an admirable job of setting up and organizing all of the displays as well as mounting an extensive show seminar series and a lot of activities on the water in the indoor lake.
A long-standing tradition has been the Buy/Sell A Boat & Win contest, sponsored by RBC and it seemed like every day we heard reports of 40 to 60 boat sales being entered into the contest. The Seminar Series was very well attended and from our perspective at the Canadian Boating and Boating Industry Canada News Week display, there seemed to be a steady and solid flow of show goers passing the booth every day.
Even the new feature of the late night on Thursday January 23rd when the doors remained open to 10:00 pm, the aisles stayed at least reasonably busy and we later heard people say that Thursday was the busiest show day at TIBS since 2013.
While the show was going on, stock markets in the US and Canada rose solidly for investors, supporting the positive economic momentum that has so far accompanied the start of the Trump administration. Although threats of tariffs cast a chill on the economic outlook, we are not sure if this is a credible threat or a very aggressive bargaining position.
While all these factors and many others are whirling about, people are still employed, still enjoying good returns on their investments and still looking forward to a great summer in 2025.
On the whole, my opinion is that 2025 is off to a good start for our industry. Let’s hope that the momentum continues for the Vancouver International Boat Show, January 29 to February 2, 2025. We hope you will come and visit us at VIBS and grab a free copy of the January 2025 Canadian Boating.
Andy Adams – Editor
