Spader dealers’ sales and profits up

SIOUX FALLS, S.D. – Total dealership sales for the average dealer tracked by Spader Cos. during the 11-month period ended Nov. 30 were up 3.8 percent, compared to the same time last year, the company reported in a recent statement.

That’s largely due to a 17-percent increase in used boat sales, according to Spader. However, new boat sales were also up during this period.

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 1.3 percent for the average dealer, compared to the same period of 2006, having increased to $6,910,906. Pre-owned boat sales had increased to $1,252,119.

Total dealership sales had jumped to $10,978,035 for the average dealer during the first 11 months of the year, reported Spader.

New boat inventories, which were up in 2006, have also increased in 2007. But for the 11-month period ended Nov. 30, they were up only 2.8 percent to $3,548,127, compared to the same period of the previous year, as were the average dealer’s pre-owned boat inventories, which have increased 4.7 percent to $396,196.

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

The unit gross margin percentage was down 0.2 points to 17.9 percent, while total company gross margin percentage was up 0.3 points to 28.5 percent.

Net profits were up 6.7 percent during the 11-month period ended Nov. 30, compared to the same period of 2006.

The average dealer earned a net profit of 4.2 percent of sales or $459,695, compared to a net profit of 4.1 percent of sales or $430,983 during the same period of 2006.

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