Boat sales rise, profits stay even for Spader dealers

November 23, 2011
Filed under Market Outlook, News

SIOUX FALLS, S.D. – Financial reports from Spader Business Management for the nine months ending Sept. 30 showed total dealership sales were up 11.6 percent over 2010; however, dealers averaged a net operating profit of 3.9 percent, identical to the same period in 2010.

New boat sales were up 16.2 percent over the first nine months of 2011, though sales dropped off slightly in September. Used boat sales were up 11.6 percent over the same period in 2010.

Gross margin percentage earned on new boats for the average dealer was relatively flat comported to 2010. Used sales gross margins were up 1.3 percent over 2010. With that, average total dealership gross margin percentage remained flat in the first nine months of 2011 compared to 2010.

Spending rose 9 percent compared to 2010 with expenses rising in 2011 except for floor plan interest and fixed expenses, according to Spader Business Management.

The Spader training and consulting firm tracks North American boat dealers, both large and small, to compile an average profile, then compares year-over-year trends in a number of different categories.

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