Dealer sales down more than 20 percent
SIOUX FALLS, S.D. – The average dealer tracked by Spader Business Management is reporting total dealership sales of $5,775,321 for the seven months ending July 31, compared to $7,384,642 during the same period of last year, a decline of 21.8 percent.
The major factor influencing that decline was a 26.4-percent drop in new boat sales to $3,517,621. However, dealers also reported declines in revenue from marina, service, parts & accessories and finance & insurance.
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 average dealer reported a net profit of $142,255 or 2.5 percent of sales for the seven months ending July 31, compared to $364,394 or 4.9 percent of sales during the same period of last year. That’s a decline of 61 percent.
The average Spader dealer’s new boat inventories were down 2.4 percent, while pre-owned boat inventories decreased 1.1 percent.
In terms of dollars, spending was down 14 percent, compared to the same time last year. But as a percentage of gross margin earned, spending was up by almost 9 percentage points, according to Spader.
- For more of the latest news, click here.
