Spader dealers’ profits down, sales up
SIOUX FALLS, S.D. – Net losses were 20.9 percent greater for the average dealer tracked by Spader Cos. during the three months ended March 31, compared to the same period of 2005, the company reported in a recent statement. However, new boat sales were up 4.2 percent.
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.
New boat sales increased from $1,317,310 to $1,372,744 while used boat sales decreased 15.5 percent to $172,668.
Total dealership sales were up 2.5 percent to $1,929,085 – due largely to increases in marina and service revenue, as well as new boat sales – for the average dealer during the three months ended March 31 compared to the same period of 2005, reported Spader.
While new boat inventories were up 15.8 percent to $3,567,798, compared to the previous year, the average dealer’s used boat inventories were up only 4.3 percent to $329,259.
The unit gross margin percentage was up 0.5 points to 18.9 percent so far this year, while total company gross margin percentage was up 1.4 points to 29.2 percent. Spending was up in terms of dollars.
Spader Cos. said its average marine dealer reported a net profit of $11,911 or 0.6 percent of sales, down 20.9 percent compared to a net profit of $15,063 or 0.8 percent of sales as of March 2005.
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