Dealer sales up 6.7 percent year-to-date
Sales through the first 10 months of the year are up by 6.7 percent dealership-wide for the average Spader dealer, according to a report from the company.
New boat sales in particular for the average dealer were up by 13.4 percent for the 10 months ending in October, keeping overall unit sales 6.9 percent higher than the same period of 2011 despite a decline in used unit sales by 3.7 percent. While inventories for both were up double digits, 16.2 percent for new units and 11.6 percent for used units, Noel Lais of Spader Business Management said in a note to Boating Industry that lower used sales could be due to a shortage of good used boats.
All other departments saw increased sales as well through October compared to the first 10 months of 2011. F&I and Other Departments grew around 20.5 and 24.0 percent, respectively, leading to increase dealership sales by 6.7 percent for the average Spader dealer.
The growth in new boat sales and all sales dealership-wide brought net operating profits to 6.4 percent of sales for the first 10 month of the year, compared to an average net operating profit of 4.7 percent of sales during the same period of 2011.
Average gross margins on new and used boats were mixed, with the average for new boats down slightly, about one-tenth of a percentage point, while used gross margins were up around two-tenths of a percentage point compared to the same period of last year.