MasterCraft Boat Company partners with Chevrolet, naming the Silverado as its official truck and tow vehicle for 2025.
Quiver AI Summary
MasterCraft Boat Company has announced a partnership with General Motors, designating the Chevrolet Silverado as its "Official Truck & Tow Vehicle" for 2025 and beyond. This collaboration builds on MasterCraft’s existing relationship with Ilmor Marine and highlights both companies' commitment to innovation and performance. As part of the agreement, MasterCraft will utilize eight Chevrolet Silverado 2500HD trucks for various events, including boat shows and promotional tours. The partnership aims to enhance brand visibility and customer engagement while showcasing advanced marine-engine technology shared between the Silverado and MasterCraft boats. Both brands emphasize performance and reliability, making this collaboration beneficial for their customers' outdoor adventures.
Potential Positives
- MasterCraft has secured an exclusive partnership with General Motors, naming the Chevrolet Silverado as its “Official Truck & Tow Vehicle,” enhancing brand credibility and visibility.
- The partnership will feature MasterCraft at a variety of prestigious events, including boat shows and the Barrett-Jackson auction, increasing brand exposure to a targeted audience.
- Collaborative innovations between MasterCraft and Chevrolet, particularly in engine technology, demonstrate a commitment to cutting-edge performance, which may enhance customer satisfaction and loyalty.
- The receipt of eight state-of-the-art Chevrolet Silverado 2500HD trucks will bolster MasterCraft's operational capabilities and marketing initiatives across national events.
Potential Negatives
- Partnership may overshadow MasterCraft’s standalone brand identity, relying heavily on Chevrolet's reputation rather than promoting its own innovations.
- The press release primarily emphasizes collaboration over specific products or advancements, potentially leading to questions about the company's current innovation pipeline.
- Dependence on external partnerships like this may indicate potential vulnerabilities in MasterCraft's market position if the partnership does not yield expected results.
FAQ
What is the new partnership announced by MasterCraft Boat Company?
MasterCraft Boat Company has partnered with General Motors, naming Chevrolet Silverado as its “Official Truck & Tow Vehicle” for 2025 and beyond.
How will the Chevrolet Silverado be used in MasterCraft's events?
MasterCraft will feature eight Chevrolet Silverado 2500HD trucks at 32 boat shows and various other marquee events throughout the year.
What benefits does the partnership with Chevrolet provide MasterCraft?
The partnership enhances support for MasterCraft's initiatives, increases brand presence, and improves customer engagement through shared events and engineering.
What engine technology connects MasterCraft boats with Chevrolet Silverado?
Both MasterCraft boats and Chevrolet Silverado utilize a 5.3L GDI HO engine, showcasing advanced marine and automotive engineering for performance and reliability.
Where can I find more information about MasterCraft and this partnership?
Visit MasterCraft's official website and follow them on social media platforms or check Chevrolet's site for more details on Silverado HD vehicles.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MCFT Insider Trading Activity
$MCFT insiders have traded $MCFT stock on the open market 6 times in the past 6 months. Of those trades, 6 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $MCFT stock by insiders over the last 6 months:
- CAPITAL MANAGEMENT, LLC COLISEUM has traded it 6 times. They made 6 purchases, buying 298,697 shares and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$MCFT Hedge Fund Activity
We have seen 52 institutional investors add shares of $MCFT stock to their portfolio, and 82 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- DIVISAR CAPITAL MANAGEMENT LLC added 227,331 shares (+41.5%) to their portfolio in Q3 2024
- DEUTSCHE BANK AG\ removed 178,452 shares (-92.2%) from their portfolio in Q3 2024
- WELLINGTON MANAGEMENT GROUP LLP removed 174,976 shares (-36.2%) from their portfolio in Q3 2024
- AQR CAPITAL MANAGEMENT LLC removed 114,742 shares (-58.5%) from their portfolio in Q3 2024
- GLOBEFLEX CAPITAL L P removed 100,161 shares (-100.0%) from their portfolio in Q3 2024
- BLACKROCK, INC. added 79,212 shares (+6.5%) to their portfolio in Q3 2024
- DIMENSIONAL FUND ADVISORS LP added 71,008 shares (+9.9%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
VONORE, Tenn., Dec. 10, 2024 (GLOBE NEWSWIRE) -- MasterCraft Boat Company , the world’s top-selling towboat brand, is proud to announce an exclusive partnership with General Motors, naming Chevrolet Silverado as its “Official Truck & Tow Vehicle” for 2025 and beyond. Building on MasterCraft’s longstanding collaboration with Ilmor Marine, powered by GM’s marine technology, this partnership reflects a shared commitment to innovation, leveraging cutting-edge engineering to deliver unmatched power and reliability.
The collaboration with Chevrolet will provide comprehensive support for MasterCraft's premier initiatives, elevating brand presence and customer engagement throughout the year. As part of the partnership, MasterCraft will receive eight state-of-the-art Chevrolet Silverado 2500HD trucks, which will be prominently featured at marquee events and activations. These include 32 boat shows, 51 stops of the Rule The Water Tour , the prestigious Barrett-Jackson Scottsdale auction, Let Her Rip Powered by Progressive clinics , the American Century Championship Golf Tournament in Lake Tahoe, Calif., and various dealer-facing programs.
“MasterCraft is excited to partner with Chevrolet, as both our brands are committed to providing customers with unmatched performance and reliability. This collaboration is a perfect example of that synergy," said Krista Schipner, MasterCraft Vice President of Marketing. “From the Chevrolet Silverado trucks enhancing our premier events to the shared engineering that connects Silverado with our boats, this partnership underscores our shared mission of empowering customers to make the most of their adventures and build unforgettable memories."
MasterCraft and Chevrolet exemplify a shared commitment to cutting-edge technology and performance, highlighted by the connection between the 5.3L GDI HO engine in MasterCraft boats and the Chevrolet Silverado. Nearly identical to the available 5.3L engine under the hood of the LD Silverado, the marine version is adapted by Ilmor—MasterCraft’s exclusive engine partner—to meet the unique demands of boating, with modifications to its exhaust, cooling, and charging systems while retaining the proven reliability and power Silverado owners expect.
The 5.3L GDI HO engine incorporates advanced technologies like Direct Injection, delivering responsive and efficient performance on the water. With Ilmor’s expertise, honed through decades of automotive racing, the result is an engine that seamlessly bridges land and water, allowing customers to enjoy unmatched power and reliability.
“
Chevrolet’s partnership with MasterCraft is a natural fit,” said Steven Majoros, Chief Marketing Officer, Chevrolet. “Silverado’s proven power and dependability make it the ideal choice to complement MasterCraft’s industry-leading boats. Both brands set the benchmark for performance and reliability, and this collaboration will allow us to showcase that at a host of premier events across the country.”
For more information, visit
MasterCraft.com
and follow along on
Instagram
,
YouTube
,
X
and
Facebook
. For more information on 2025 Chevrolet Silverado HD vehicles, visit
https://www.chevrolet.com/trucks/silverado/2500hd-3500hd
.
About MasterCraft:
MasterCraft is a world-renowned innovator, designer, manufacturer, and marketer of premium performance sport boats. Founded in 1968, MasterCraft has cultivated its iconic brand image through a rich history of industry-leading innovation, and more than five decades after the original MasterCraft made its debut, the company’s goal remains the same - to continue building the world’s best ski, wakeboard, wakesurf, and luxury performance powerboats.
About MasterCraft Boat Holdings, Inc.:
Headquartered in Vonore, TN, MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) is a leading innovator, designer, manufacturer and marketer of premium recreational powerboats through its three wholly-owned brands, MasterCraft, Crest and Balise. Through these three brands, MasterCraft Boat Holdings has leading market share positions in two of the fastest-growing segments of the powerboat industry – performance sport boats and pontoon boats. For more information about MasterCraft Boat Holdings, please visit
Investors.MasterCraft.com
,
www.MasterCraft.com
,
www.CrestPontoonBoats.com
, and
www.BalisePontoonBoats.com
Media Contact:
Mandie Albert
The Brand Amp
[email protected]
