Dealers report new boat inventories up

SIOUX FALLS, S.D. – New boat inventories were 20.3-percent higher for the average dealer tracked by Spader Cos. during the 10 months ended Oct. 31, compared to the same period of 2004, the company reported in a recent statement.

However, new boat sales, total dealership sales and net profits were also up, compared to 2004, though by a smaller percentage.

Spader Cos. said its average marine dealer earned a net profit of $449,071 or 5.3 percent of sales during the first ten months of the year, up 13.7 percent compared to $394,981 or 5.2 percent of sales during the same period of 2004.

The 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.

The unit gross margin percentage was up 0.9 points from 17.8 percent in 2004 to 18.7 percent this year, while total company gross margin percentage was up 0.2 points at 27.7 percent.

Spending was up in terms of dollars but level as a percentage of gross margin.

Total dealership sales were up 12.6 percent from $8,535,607 to $7,577,745 for the average dealer during the 10 months ended Oct. 31 – compared to the same period of 2004, reported Spader.

While new boat inventories were up 20.3 percent to $2,735,073, compared to the previous year, new boat sales were up 16 percent to $5,595,592.

The average dealer’s used boat inventories were down 3.5 percent to $294,037, while used boat sales were down 1.7 percent to $910,931.

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