June 7, 2009, Nashville, Georgia: Responding to an unprecedented economic downturn in the marine industry, Chaparral and Robalo Boats (NYSE:MPX) are launching a marketing campaign that spotlights the company's financial strength, new product development, seasoned management team and well-established dealer network.
"At Chaparral and Robalo we feel it's time to shift focus from all the troubled economic news and send a confidence-building message to dealers and consumers alike," said company president Jim Lane. "We are a strong company that will not only weather this downturn, but see the 2010 model year as a time to gain market share."
Operating under the slogan, "A Story of Strength and Stamina" the new marketing thrust draws attention to the company's $51 million in cash assets, $110 million net worth and zero debt service. The campaign also highlights the company's strong, service-minded dealer network.
"We've always said that the boats are the stars," continued Lane, "but given these challenging economic times, we feel people need to know the power behind the brand name. Let's face it; the rules for selling boats have changed. Dramatically. In years gone by styling, performance, features and price got the job done. Now more than ever, the company and the dealer network that stand behind the name is key."
At a time when many builders are slashing R&D budgets, the campaign will also focus on the company's new product development. In the last three years, Chaparral and Robalo have introduced 10 new boats with two Boat of the Year winners including the 400 Premiere Yacht. An unprecedented five new boats are planned for introduction in 2010.
"New sells," says Lane, "and we're determined to stay on the cutting edge of technology. In a down market it's not easy investing in new product development but we feel it's the key to Chaparral and Robalo's future success."
Chaparral and Robalo are also supporting dealers with the industry's most aggressive rebate and sales incentive programs. "Factory support is key at this time. We've crafted rebate programs designed to spark retail sales," said Lane. We've got the financial horsepower to support dealerships in lean times, work with lenders to assist in securing floor plan financing, and pay co-op advertising and warranty claims on time."
Chaparral and Robalo Boats are traded on the New York Stock Exchange as part of the Marine Products Group (MPX). Consequently, consumers and dealers alike are able to verify the company's financial position every quarter and move forward with confidence.
Chaparral and Robalo's complete story of "Strength and Stamina" can be viewed at:
Chaparral:
http://forum.chaparralboats.com/publications/CorpDocs/Chaparral-Boats-Corporate-Info.pdf
Robalo:
http://forum.robalo.com/publications/CorpDocs/Robalo-Boats-Corporate-Info.pdf
