MasterCraft -- 2013 and beyond

Top US towboats coming back down to earth

Terry McNew is a straight shooter. When he’s not wakesurfing behind one of his Tennessee-built towboats, the President and CEO of MasterCraft is thinking about how he can do it better. And Australia, he will tell you, is a key part of his motivation.

Just six-years ago, Australia took a dozen of the premier towboats. Nowadays, we are buying more than 100 MasterCrafts a year. This is music to the ears -- and those big speakers hanging from the towers -- of the 12 MasterCraft dealers dotted around the country.

Established in 1968, MasterCraft is now the biggest producer of inboard ski, wakeboard and luxury performance powerboats in the world, shipping to more than 30 different countries and 130 dealers.

"We’re working on an Australian edition," McNew told BoatPoint and boatsales during our interview at the MasterCraft stand at Sydney International Boat Show. "An exclusive external and internal design. We’re bouncing concepts around."

NEW 2013-14 RELEASES

When you examine the boat-builder’s timeline it’s clear MasterCraft doesn’t have idle hands.

The biggest news thus far in 2013 was the all-new 24-footer, the X46, a dedicated wake-surfing boat that replaces the popular X45. In fact, its global debut was at the Sydney boat show where we caught up with McNew.

For skiers, the new ProStar model that was just launched this month in Canada makes big claims. We also hear of a yet-to-be released new entry-level MasterCraft coming later in the year.

Among the other exciting 2013 news is a Surf Package for creating the best wakesurf waves on compatible MasterCrafts; an all-new audio system that allows for zone control giving separate audio controls for bow, cockpit and tower speaker; an all-new trailer package with new graphics, new wheel options and more.

NEW AFFORDABLE MODEL

But the challenge now is with making its class-leading boats more appealing to the younger generation. Wakesurfing in itself has helped with that, but MasterCraft has always been a premium product with a price premium.

"Our customers are 35-55 year olds, half of whom pay cash for the boat," McNew explains of today’s Baby-Boomer boater. "So we need to get the younger buyer.

"We’ll do that with marketing, a new family focus and by lowering the pricing on some key new products," McNew says, adding that the younger generation are more payment-oriented, suggesting financing will be part of the strategy.

"If you look at the demographics, as we did earlier this year, and a 1997 buyer, well, when you look at the 2012 buyer he’s the same guy that just got older. He shifted to the right.

"And so we need to hand the torch off. That’s the challenge… appealing to the younger buyer. When we introduce these new products they will be significantly reduced in price to allow people to get into the brand. Our boats hold a better trade-in value than our competitors -- we use the best materials -- so people can step up through the brand.

"You’ll see a big change in our marketing, too, with our brochures, there’s a change to the family and lifestyle. We have the pros, Harley Clifford from Australia is the number one wakeboarder in the world, and we love that, and we have the top skiers.

"But you’ll see some new product released next year that will appeal to the younger professionals, younger singles and younger families. It will have all the beautiful design that MasterCraft is known for. That’s free. We’re not giving that up. We’re not going to sub-brand it.

"It will be a more affordable boat. The younger buyer’s debt-to-equity ratio is much higher than the Baby Boomers’. But they still have a desire, we just have to help them with their need," explains McNew.

IN THE WASH

McNew says right now, right around the world, wakesurfing is huge and it's attracting new people at both ends, people who are staying active well into their Sixties.

"I enjoy it," he says. "I grew up surfing. You’re 20 feet behind the boat, not 70 as with wakeboarding." But McNew is also aware of some 'issues' surrounding the legality of wakesurfing so close to a boat here in Australia.

Meantime, expect to see a new Australian-model MasterCraft and the entry-level boats at next year’s Sydney boat show. As with all new MasterCrafts, scale models are built, tank tested and there’s digital analysis used to ensure they create the perfect wakes and waves.

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MasterCraft -- 2013 and beyond

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