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RV dealership net earnings, on average, were up from 17% to almost 27% when the first 10 months of 2003 are compared with the same portion of 2002, according to consultant firm Spader Business Management.
The average larger dealer, which the Spader firm defines as having over $10 million in annual sales revenue, reported the largest earnings growth: 26.6%.
The average larger dealer earned $1,115,091 during the first 10 months of this year, compared with a net profit of $880,559 earned during the first 10 months of 2002.
Mid-size dealers, which the Spader firm defines as having between $5 million and $10 million in annual sales, saw their net incomes grow by an average of 17.1% during the first 10 months of this year.
The average mid-size dealer reported $422,975 in net earnings during the first 10 months of this year, compared with $361,079 earned during the same portion of last year.
Meanwhile, the average smaller dealer, which the Spader firm defines as having less than $5 million in annual sales, experienced an 18.2% increase in net profits during the first 10 months of this year to $206,998, compared with $175,166 earned a year earlier.
The sharp earnings increases occurred despite more modest increases in revenue from the sale of new RV units, the Spader firm reports.
The average larger dealer reported a 6.2% increase in new RV unit sales revenue to $11,354,356 during the first 10 months of this year, versus $10,690,906 a year earlier.
The average mid-size dealer reported a 4.8% increase in new RV unit sales revenue to $4,663,485, compared with $4,451,629 a year earlier.
The average smaller dealer reported a 3.3% increase in new RV unit sales revenue to $2,141,125, compared with $2,072,852 a year earlier.