Spader dealers’ sales up slightly

SIOUX FALLS, S.D. – Net profits were down 18 percent for the average dealer tracked by Spader Cos. during the six months ended June 30, compared to the same period of 2005, the company reported in a recent statement.

As of the end of June, the average dealer earned a net profit of 5.2 percent of sales or $301,258, compared to 6.4 percent of sales or $367,324 in 2005.

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 were up 1.2 percent, having increased from $3,869,647 to $3,915,502 while used boat sales were down 11 percent to $545,464.

Total dealership sales were up 1.4 percent to $5,788,006 for the average dealer during the six months ended June 30 compared to the same period of 2005, reported Spader.

New boat inventories were also up, having increased 16.5 percent to $3,536,017, compared to the previous year, as were the average dealer’s used boat inventories, which jumped 10.7 percent to $367,435.

The unit gross margin percentage was down 0.2 points to 18.2 percent so far this year, while total company gross margin percentage was up 0.5 points to 27 percent.

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

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