Personal watercraft manufacturers launched a program this week that will allow members of Congress to apply for a PWC to be loaned to public safety agencies in their congressional districts.
The Congressional PWC Loan Program is backed by members of the Personal Watercraft Industry Association (PWIA): American Honda Motor Company, Inc.; BRP U.S. Inc.; Kawasaki Motors Corp., U.S.A.; and Yamaha Motor Corporation, U.S.A.
While the Congressional PWC Loan Program is new, the PWIA's loan program is not. Since 1989, approximately 15,000 vessels have been loaned through manufacturers and their local dealerships to law enforcement, fire and rescue, and marine mammal research organizations across America. If calculated at the 2003 average retail price of $8,890 per vessel, manufacturers' investment in this program has exceeded $133 million.
A typical loan period is one year. Large, three-person units account for more than 75% of the retail market, and are typically the type used in the loan program.
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