SIOUX FALLS, S.D. – Sales of new boats rose by 19.8 percent compared to the same period of 2010, according to a report released by Spader Business Management. The company’s latest financial report covers the first six months ending June 30.
For the first six months of 2011, the average dealer reported a Net Operating Profit of $191,324, a slight increase over a Net Operating Profit of $189,996 for 2010. The average total dealership gross margin percentage dropped slightly by one half of one percent compared to the same period of last year.
New boat inventory levels stayed the same at 10.7 percent above the first six months of 2010.
Total dealer sales for 2011 grew, resulting in an 8.3 percent increase over sales in the same period of 2010. Used boat sales were down by slightly less than one percent.
Average spending at dealerships rose 5 percent over last year, with spending on Personnel Expenses, Advertising Expenses, and Variable Expenses up over last year, and Floor plan Interest and Fixed expenses down.
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.