Most recent quarter’s data again points to Cirrus Aircraft product strength and consistency over the the past twenty-four months
On November 10, 2010 the General Aviation Manufacturers Association (GAMA) released the industry’s third quarter shipment and billings summary. GAMA President and CEO Pete Bunce saw positive signs in an industry slowly recovering from two years of turbulence, making special mention of companies like Cirrus that are investing in upgrades and new products. “I am especially encouraged by the resources general aviation manufacturers are expending on the research and development of new products,” said Bunce. “Recovery indicators continue to fluctuate, but one positive indicator - the investment in new airplanes and technology – is solid. GA manufacturers are clearly looking toward the future and will be poised for a strong return when the economy fully recovers.”
Preference for Cirrus Aircraft continues at all time high levels as the newest model in the best selling line - the SR22T - makes its global debut
“We see several positive factors combining to push our piston market share higher in a tough market” noted Todd Simmons, Vice President, Marketing. “Most impactful in the third quarter was the introduction of the SR22T with its all-new TCM TSIO-550-K engine installation. This latest iteration in the best-selling SR22 line is not only a performance leader yet also defines the path forward around future fuels. For the third quarter, the new model accounted for nearly 40% of total deliveries right out of the gate. Additional new product features including Electronic Stability & Protection™ in the Cirrus Perspective by Garmin™ avionics suite, Certified Flight into Known Icing, and new personalization options are driving sales and delivery activity as well.”
“For the year we also see an increase in the number of deliveries of new SR20’s. It too has received a number of significant upgrades making it a very capable personal touring airplane, contemporary training platform, or in the case of many new SR20 owners, both.”
Simmons added, “Of course the airframe parachute is as much a topic of discussion today as it was when we introduced CAPS as standard on every Cirrus more than a decade ago. The only difference is now we don’t talk about how it works or why to have it, but instead what an invaluable safety feature it has proven to be and why would anyone own a plane in this class without it.”
Early Indicators are positive for 2011
Brent Wouters, President and CEO, noted several factors approaching the end of 2010 that are contributing to a positive outlook for Cirrus Aircraft in 2011. “The recent passage of generous depreciation rules for small businesses is very helpful, especially since customers can take delivery of aircraft ordered in 2010 by the end of 2011 and still receive the tax benefit. Cirrus is offering additional assistance to our customers with generous trade-in incentives, the lowest aircraft financing rates in years and an unprecedented 5-year spinner-to-tail warranty with any new purchase. Taken together, these are the most compelling reasons to buy in years.”
Wouters added, “This most recent quarter’s performance joins the previous six or seven in the high performance piston GA space where Cirrus uniquely has demonstrated consistency in deliveries and a commitment to product innovation. These fundamentals are critical to the nascent recovery, and while it is still too early to be certain, we are hopeful our numbers suggest an even stronger 2011 for Cirrus and the entire industry.”
Third quarter 2010 Cirrus Aircraft highlights
- Cirrus has delivered more 4-seat, single-engine piston airplanes in 2010 than any other manufacturer year to date, and the SR22 family of aircraft remains the best-selling airplane for now the 8th year in a row.
- Year to date, Cirrus market share for single engine piston, tricycle gear aircraft stands at 35%, an all time high for the company. In 3Q’10 alone, Cirrus market share in the same category stood at 49%.
- Year-to-date, Cirrus has grown its market share leadership to nearly 70% percent for all SR22 comparable aircrafti. In the first three quarters of 2009, the same figure was 58% and in 2008, 50%.
- Both year to date unit volume and market share have grown for the SR20ii. SR20 market share grew from 11% in 2009 to 13% in 2010 and SR20 unit deliveries are up 12% in 2010 vs. the same period in 2009.
- While not reported in GAMA data, sales of pre-owned Cirrus Aircraft through Cirrus CertifiedTM – the exclusive Cirrus Aircraft pre-owned sales division – remain strong at 22 units for the quarter.
SEE Cirrus' special offers available on aircraft deliveries through 12/31/2010
i SR22 comparable aircraft includes the following four seat aircraft: 182T Skylane, T182T Turbo Skylane, 350 Corvalis, 400 Corvalis TT, SR22, SR22T, M20R Ovation, M20TN Acclaim
ii SR20 comparable aircraft includes the following four seat aircraft: 172R Skyhawk, 172S Skyhawk SP, 182T Skylane, DA40, SR20, PA-28-161 Warrior III, PA-28-181 Archer III, PA-28R-201 Arrow
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