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RV dealer net profits were up sharply during the first half of this year, when compared with the same portion of 2001, although smaller and mid-size dealers carried smaller new unit inventories as of June 30, according to consultant firm Spader Business Management.
Smaller dealers, which the Spader firm defines as those with less than $5 million in annual sales, had the biggest improvement in profitability. Their net earnings soared 50.6% higher during the first half of this year to an average of $101,467, compared with $67,364 during the first half of last year.
However, smaller dealers’ new RV unit inventories were down, in dollar terms, to an average of $968,639 as of June 30, the Spader firm reported.
Mid-size dealers, defined as those with between $5 million and $10 million in annual sales, also experienced a dramatic 33.1% improvement in net earnings during the first half of this year to an average of $198,483.
But new RV unit inventories at mid-size dealers were down an average of 6.6% as of June 30 to $1,701,858, the Spader firm reported.
Only the largest dealers, those with more than $10 million in annual sales, carried larger new RV unit inventories, in dollar terms, as of June 30. The average large dealer had a new unit inventory worth $4,101,220 as of June 30, a 10.3% increase over the average inventory level of $3,717,902 as of a year-earlier.
The largest RV dealers also experienced a 43.6% increase in net earnings during the first half of this year to an average of $565,540, the Spader firm reported.