Center Console Boats And More

2005 Yamaha 40hp motor on Pontoon Boat?

Hey this weekend I was out on the lake, the tac on my boat started smoking and I could smell electrical burning, I opened the compartment under the steering wheel area and there was smoke. and the tac had some smoke in it. Now the engine was running fine but the tacometer wasn't working anymore. Did my tac just burn out and could it be more to it than that?