Spader dealers report improving boat sales, profits
The average Spader Business Management dealer increased new boat sales by 13 percent in the first quarter, compared to the same time last year, according to a report from the company.
SIOUX FALLS, S.D. – New boat sales continued to rise in first quarter 2012 for the average Spader Business Management dealer, while net operating profits also increased, compared to last year’s first quarter loss, according to a report from Spader.
Compared to the first quarter in 2011, new boat sales increased 13 percent. Average gross margin percentage earned on new boats increased seven-tenths of one percentage point in the first quarter, compared to the same period in 2011, according to the report.
Overall, the average Spader dealer reported a net operating profit in first quarter 2012 following last year’s first quarter loss. First quarter profits were $2,457, compared to an operating loss of $26,335 at this time last year.
Used boat inventories were down more than 15 percent, which may have contributed to the 11.4 percent decrease in used boat sales when compared to first quarter 2011.
Total dealership sales for the average Spader dealer increase 5.8 percent over the prior year. Gross margin percentage for total sales was 1.4 percentage points higher than last year, according to the report.
Total expenses for the average Spader dealer were up more than 5 percent over the prior year. Although advertising expense and floorplan interest expense was down, all other expense categories had increased in spending.
New boat inventory levels were nearly 8 percent higher than the 2011 first quarter.
