SIOUX FALLS, S.D. – New boat and total dealership sales were up for large and small dealers during the 10 months ended Oct. 31, when compared to the same period of 2003, Spader Cos. reported in a statement yesterday.
The training and consulting company tracks approximately 60 dealers in North America, dividing them into two categories: those doing under $5 million in business at retail and those doing over $5 million.
Spader said large dealers’ total dealership sales were up 3.5 percent – from $10,248,176 to $10,610,378 – and new boat sales were up 4.8 percent – from $6,479,360 to $6,791,183.
Total dealership sales were up 8.5 percent for smaller dealers – from $3,302,464 to $3,582,291 – as were new boat sales, which were up 12.6 percent – from $2,052,459 to $2,311,110.
Small dealers reported that their profits were also up, compared to the same 10 months of 2003, as they had a net profit of 5.7 percent of sales, or $205,825, as compared to 4.3 percent of sales, or $142,942, for the same period the year before.
Used boat sales were down 20 percent from $330,429 in 2003 to $264,294 this year.
New boat inventories were down 1.1 percent, from $1,002,767 to $992,134, while used boat inventories were down 13.6 percent – from $89,712 to $77,495.
The total gross margin percent was up 0.8 points to 29.2 percent, while total unit margin percent was up 1.3 points to 19.7 percent.
Spending in terms of dollars was up but, as a percentage of gross margin, was down 4.5 points to 80.3 compared to the same period of 2003.
Large dealers reported a net profit of 5.5 percent of sales, or $580,472, compared to 6.3 percent, or $643,142, in 2003.
Used boat sales were up 14.5 percent to $1,357,831 from $1,186,068 in 2003, and used boat inventories were up 3.8 percent from $419,148 to $435,069. New boat inventories were up 4.6 percent from $3,027,217 to $3,165,909.
Spader reported that the total gross margin percent was down 0.5 points from 2003 to 27 percent, while total unit margin percent was down 0.4 points to 17.5 percent.
Spending was up in terms of dollars and also up by over 2 points as a percentage of gross margin.
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