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RV dealer profits grew by more than 30% when the first 11 months of 2002 are compared with the same portion of 2001, according to consultant firm Spader Business Management.
The rates of net profit gains ranged from 31.8% for dealers with more than $10 million in annual sales to 41.7% for those with between $5 million and $10 million in annual revenue, the Spader firm reports.
Dealers with less than $5 million in annual sales had net profit increases averaging 33.1% when the first 11 months of 2002 are compared with the same period a year earlier.
The average dealership with more than $10 million in sales had net earnings of $872,288 during the first 11 months of 2002, compared with $662,683 earned during the first 11 months of 2001.
Meanwhile, the average mid-size dealership, those with between $5 million and $10 million in annual sales, earned $362,726 during the first 11 months of 2001, compared with $256,026 earned during the same period a year earlier.
The average smaller dealership, those with less than $5 million in annual sales, earned $174,448 during the first 11 months of 2002, compared with $131,102 earned during the same portion of 2001.
Mid-sized dealership experienced the largest increase in new RV unit sales revenue, 19.8%, to $4,942,076 during the first 11 months of 2002, compared with $4,126,185 during the same period a year earlier.
The average smaller dealership experienced a 9.7% increase in new RV unit sales revenue during the first 11 months of 2002 to $2,158,358, compared with $1,976,406 a year earlier.
The average dealership with more than $10 million in annual sales experienced a 7.8% increase in new RV unit sales revenue to $11,339,701, compared with $10,541,401 a year earlier.