Through May, dealers report profit, sales up
SIOUX FALLS, S.D. — For the first five months of 2011, new boat sales were up by 17.6 percent compared to the same period in 2010 for the average dealer tracked by consulting firm Spader Business Management. The company’s latest financial report covers the five months ending May 31.
The average dealer reported a Net Operating Profit of $95,000. This compared to a Net Operating Profit of $66,871 last year. Used boat sales were also up by 14.8 percent compared to the same period in 2010.
New boat inventory levels were reported at 10.6 percent above where they were at the end of May 2010. The average gross margin percentage earned on new boats was 0.7 of one percent higher for the first five months of 2011 compared to the first 5 months of 2010.
Total dealership sales were up by 8.2 percent over the sales reported last year at this time.
The average total dealership gross margin percentage was slightly lower in 2011 compared to 2010.
In terms of dollars, the average dealer reported that spending continued to be up by 4 percent compared to the dollars spent a year ago. All expense categories were higher with the exception of Floorplan 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.
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