Total used boat sales were down drastically for the average Spader dealer in January but new boat and other unit sales were both up, resulting in 8.4 percent more total unit sales during the month compared to January 2011, according to a report from Spader Business Management.
Despite used boat sales dropping by nearly 40 percent in January, according to the Spader report, down from $94,000 to $57,000 for the average dealer, new boat sales were up 13.7 percent to $233,000 and other unit sales climbed 32.8 percent in the month as well.
With new boat sales higher, the average gross margin percentage earned on new boats was up almost 2 points for the month of January 2012 compared to the same period of last year. The average used boat gross margin was up almost 2 percentage points as well.
Total operating sales were up across all categories, with marina and other departments seeing the greatest improvement, rising 58.5 percent and 38.2 percent respectively. Both service and P&A were also up double digits, 11.4 and 15.4 percent respectively.
The average dealer recorded a net operating loss just under $62,000 for the month, though it was an improvement over the net operating loss of $69,000 for the average dealer in January 2011.
Spending was up about 6 percent, with all categories up except for advertising expenses and floorplan interest.
The average dealer reported new boat inventory levels up nearly 16 percent over the same period of 2011, but used boat inventory was down 15.5 percent year-over-year comparatively.