Princess Yachts Market Update : What's Hot?
For years, Princess Yachts has been at the forefront of the yachting industry in both product innovation and quality. Combined with a strong partner network, the U.S. market has flourished and is globally leading the way forward in sales. James Nobel, Vice President of Marketing & Communications for Princess Yachts America is ecstatic about what is in store for the manufacturer and recently had this to say, "Princess will have a very strong presence at the popular boat shows this fall and winter, showcasing three new models to the North American market at the 2016 Ft. Lauderdale International Boat Show - the 75 Motor Yacht, V58, and 49 Flybridge. This will be followed by the launch of the new S60 later in the winter in Europe, and several new models that have yet to be announced. In addition, Princess continues to build upon the success of its M Class yachts, with the recently premiered 30M garnering international attention and acclaim following her showing at the European shows this fall."
With over 35 new and pre-owned Princess Yachts sold in the past year by HMY, the demand has been exceptionally strong. HMY sold nine Princess Yachts at last year's Fort Lauderdale Boat Show and hopes to exceed that number in 2016. "We are seeing a lot of interest in the Princess 52, 56, 68, and 75", said Steve Barcsansky, one of HMY's Princess Yachts Sales Professionals. "The late-model pre-owned Princess market is strong as well, particularly the V48, 52, 56, V62, and 72 Motor Yacht. There is a very good probability that if you listed your yacht now, you may see it sold within a few short months."
"Across each of the four ranges, the American market for Princess has seen strong demand in the high 40 to mid 70 foot range. The Princess V48 with its IPS package has been a very popular addition to the V Class range in recent years, and Princess has seen very positive results already with sales of the new Princess 49, the first flybridge IPS model from the brand. The S65 has seen a very strong start in the North American market, with a number of models delivered to owners, and the market is eagerly anticipating the new S60 that will be added to the S Class range in mid 2017. The larger flybridge motor yachts, such as the Princess 68 and new 75 Motor Yacht, have been very popular choices, while the smaller flybridge models from 52 to 60 feet have seen very strong demand from owner-operators," says Nobel.
Recent Video of the Princess S65:
Nobel goes on to explain how pushing product innovation at the Princess factory has helped keep demand high and sales strong, "Even in the recent difficult times in our industry, Princess has continued to reinvest in the company and the product with a strong development cycle that spans each of its product lines, as well as added a new classes of yachts with the introduction of the M Class range of models above 100 feet in 2011, followed by the addition of the S Class range of sport bridge yachts in 2014. Each year, Princess launches an average of three to four new models, which is unprecedented in class. This is impressive, but what does it really mean to the consumer aside from shiny new models every year? For a company that invests so much in product development, the cross-benefit for the customer, as well as the product range, is the learning curve what inevitably comes with bringing a new model to market. As Princess begins each new model from a clean sheet of paper, the opportunity to research and evaluate new technology, build methods, components, and processes into that new model abound. From there, the company can translate these new advances across the range, ensuring that the product continues to evolve and improve with each new boat that is delivered. As an example, Princess moved from resin infusion of small parts through full infusion of every model. This results in lighter, stronger parts as the resin to fiberglass ratio can be near perfect each time a component is molded. This has allowed Princess to reduce the mass of interior stiffeners without sacrificing strength. The result over the last several years of product cycle has been increased interior volume, extensive use of glass to increase natural light, and a lighter, more efficient end product."
Whether you are looking to sell your pre-owned Princess Yacht or trade-in to a new one, HMY Yachts has the most-tenured sales professionals in the industry that can help inform you on the current market and personally guide you through the buying or selling process. If you are interested in meeting with an HMY Sales Professional, please contact us by calling (561) 262-4132 or by filling out the form at the top of this page.
Princess Yachts recently produced a 6-part mini-series which took viewers inside the factory in Plymouth, England. To view all of the episodes, visit our recent blog post.
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