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The new RV unit inventories of midsize dealers were up 19.9% as of Feb. 28 while the new RV unit inventories of large and small dealers were up by more modest amounts, according to consulting firm Spader Business Management.
Midsize dealers, which Spader defines as having $5 million to $10 million in annual sales, reported new RV unit inventories valued, on average, at $2,065,138 as of Feb. 28, compared with $1,722,757 as of Feb. 28, 2002, Spader reports.
Meanwhile, the largest dealers, those with more than $10 million in annual sales, reported their new RV unit inventories increased 3.2% to an average of $4,333,670 as of Feb. 28, compared with $4,200,684 a year earlier.
Small dealers, those with less $5 million in annual sales, reported their new RV unit inventories were up 5.1% to an average of $1,061,645 as of Feb. 28, compared with $1,009,725 as of Feb. 28, 2002.
Only the largest dealers were profitable after the first two months of this year. One reason why that occurred was because only the largest dealers reported lower total expenses in the January-February period.
All categories of dealers reported lower sales revenue, in terms of new RV unit sales and total sales revenue, in the first two months of this year, Spader added.
The largest dealers reported spending an average of $487,734 in the first two months of this year, compared with total spending of $524,187 in the first two months of last year. The biggest reductions were in spending on personnel – $259,832 in the first two months of this year versus $283,205 spent a year earlier – and on advertising – $42,825 spent in the first two months of this year versus $53,040 spent a year earlier.
Meanwhile, midsize dealers reported their expenses, on average, totaled $229,213, a slight increase over the $222,914 they spent during the same period a year earlier.
Small dealers reported they spent, on average, a total of $121,489 in the first two months of this year, versus $112,379 spent in the same period a year earlier. The biggest spending increase by small dealers was in the area of personnel. They spent an average of $60,891 on personnel in the first two months of this year, versus $55,345 spent on personnel in the first two months of 2002.