SIOUX FALLS, S.D. — Despite a 13.3 percent increase in new boat sales, a nearly identical net operating loss was recorded in the first four months of 2011 for the average dealer tracked by consulting firm Spader Business Management. The company’s latest financial report covers the four months ending April 30.
For the first four months of 2011, the average dealer reported a Net Operating Loss of $31,326 compared to a nearly identical Net Operating Loss of $30,656 for the same period in 2010. Used boat sales were up by 10.9 percent compared to the same four months of 2010.
New boat inventory levels continue to grow and are now 9.5 percent higher than new boat inventories at the end of April 2010. The average gross margin percentage earned on new boats was slightly less than one percentage point higher in 2011 compared to the same period in 2010.
Total dealership sales were up by 5 percent over sales for the same period in 2010.
The average total dealership gross margin percentage was slightly lower in the first four months of 2011 compared to 2010.
In terms of dollars, the average dealer continued to report about 4 percent higher spending than they incurred a year ago. All expense categories were up with the exception of floor plan interest expense.
The Spader 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.