New boat inventories dip, reports Spader

SIOUX FALLS, S.D. – New boat inventories were up 19.8-percent for the average dealer tracked by Spader Cos. during the 11 months ended Nov. 30, compared to the same period of 2004, the company reported in a recent statement.

The gap between 2005 and 2004 is shrinking, however. As of Oct. 31, boat inventories were up 20.3 percent over 2004.

New boat sales, total dealership sales and net profits were also up, compared to 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.

While new boat inventories were up 19.8 percent to $2,727,093, compared to the previous year, new boat sales were up only 15.6 percent to $5,724,865.

The average dealer’s used boat inventories were down 3.2 percent to $288,597, while used boat sales were down 0.5 percent to $944,270.

Total dealership sales were up 12.8 percent from $7,853,687 to $8,860,328 for the average dealer during the 11 months ended Nov. 30 – compared to the same period of 2004, reported Spader.

Spader Cos. said its average marine dealer earned a net profit of $435,136 or 4.9 percent of sales during the first 11 months of the year, up 17.4 percent compared to $373,869 or 4.8 percent of sales during the same period of 2004.

The unit gross margin percentage was up 0.8 points from 17.8 percent in 2004 to 18.6 percent this year, while total company gross margin percentage was up 0.3 points to 28.3 percent.

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

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