Hatteras closing!!

[rustybucket]

I assume this means Hatteras is for sale or could be bought from bankruptcy.

Asking for a friend, if one were to buy Hatteras, what would you do to make the company successful?

As a disclaimer, I know nothing of the internal workings/struggles at Hatteras, just a general takeover/buyout plan.

Focus on delivering a quality product in a timely manner. Only build what is profitable to the company, trim fat from the product and option offerings. Trim some personnel fat, retain quality and valuable employees.

I have talked with several people over the last few years that were buying/building new sportfish boats in the 70-90' range. All of them passed on Hatteras for multiple reasons but the most repeated was the time to delivery. Seems like 5yrs was the average wait time they were given. While viking was quoting a 2 year delivery schedule. Although it does seem like most vikings that come out of the factory spend a considerable amount of time (a year or two) at one of the viking service centers getting all the loose ends tied up.

I'm not sure if it really takes an extra 3 years to build a hatt over a viking but it could be more of a production/facility/personnel issue. If they are closing the doors it doesn't sound like a demand issue? I do know this, if you are quoting 5 years and all your competitors are quoting 2 years you are doing something wrong that will cost you a LOT of sales. Several of the guys I know who went viking said their preference was hatt but b/c of the wait time they didn't really have a choice.

[zigzag930]

I'd sure hate to be someone that has one on order.....

[SKYCHENEY]

The last time I was in the factory, I was not impressed. Everything seemed quite old and not clean and orderly like I was expecting. I think maybe a lack of investment over the years in plant upgrades may have been the reason for the long delivery times.

[Pacblue]

It’s a hard business to make money, especially with industry outsiders behind the wheel.A few hints, reduce the complexity of systems onboard, especially electrical, and move away from painting every boat, which I understand is sacred to many, but you are just adding cost and losing money to your competition.

[SKYCHENEY]

It’s a hard business to make money, especially with industry outsiders behind the wheel.A few hints, reduce the complexity of systems onboard, especially electrical, and move away from painting every boat, which I understand is sacred to many, but you are just adding cost and losing money to your competition.

I disagree. I think people will pay a premium price for a premium product, but you can't make the sale if you can't deliver in a timely manner.

[scottinsydney]

This is a shame.

I have always thought that the new generation of Panaceas, well made as they are, never added to the Hatteras motor yacht heritage. They are too large and too expensive for a recreational boater. To me they seemed suitable for non boating city dwelling owners who needed crew. The private equity guys that bought the business made boats that they themselves might use. This was probably not a good business plan. The profit per unit in building a big boat might be greater but you have to sell lots of them.

The recreational boater in the 40-70 MY category was ignored.

It is no wonder there is such a vibrant second hand market for Hatteras motor yachts and flybridge cruisers.

Lets hope for a businessman who likes boats to buy it. Riviera Australia was saved by the same. Palm Beach's production lines are full. Build products that people want.

[Photolomy]

I don't think Hatteras has targeted the recreational boater for quite awhile now. If I were looking for a new yacht in my price range, it would be a Carver. I know, Carver is not the same as a Hatteras, or even an old Hatteras, but a new Carver is in the same price range (inflation adjusted) as our boats were when they were new. A new Hatteras though is like 5x more. Fortunately, I don't think this would affect Sams, so we will still have a place to buy parts.

[Wiredup62]

I don't think Hatteras has targeted the recreational boater for quite awhile now. If I were looking for a new yacht in my price range, it would be a Carver. I know, Carver is not the same as a Hatteras, or even an old Hatteras, but a new Carver is in the same price range (inflation adjusted) as our boats were when they were new. A new Hatteras though is like 5x more. Fortunately, I don't think this would affect Sams, so we will still have a place to buy parts.

Is Sams totally separate? I hope so. If you follow the FISH TANK sportfishing crew, the owner discussed terrible service and yard management on their new 65' sportfish. They have supported Hatteras a long time and basically said never again. There new sportfishes are beautiful, and it's a shame this year has gone so bad for them. Hopefully, the right kind of company can come along and bring Hatteras back to where it should be.

[krazy8]

Didnt it take 3 or 4 years after build to sell that 45 GT Model they built

[Rich60175]

Hatteras currently has in stock ready to be sold a GT45 and GT65. I also read about the issues with Fish Tank. Makes me second think wanting to build a M75. Just that no one makes as nice of a lay as the M75. Viking is not as nice. It really is a shame, I did hear that they lost several good team members on the build side, one that have been with Hatteras for years. Time will tell. Most VC's want out by the 5 year mark, their at 7 yrs and months currently.