Marine Registration growth on the decline
MARKET
INTELLIGENCE
HOT SPOTS
15
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6
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12
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SAME-STORE SALES REPORT
PARTS DEPARTMENT
4.6 %
SERVICE DEPARTMENT
21.2 %
UNIT SALES
20.3 %
OVERALL
15.7 %
Boat dealer same-store sales decreased overall 15.7 % in February of 2023 compared to February 2022 . Unit sales were down 20.3 % year-over-year , along with parts revenue ( down 4.6 %). Service sales were up 21.2 %. For more information on this report and other industry data , go to www . lightspeeddms . com / data-services .
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Marine Registration growth on the decline
Marine registration was down in nearly all markets in 2022 , according to the latest data from Statistical Surveys Inc .
Seattle-Tacoma , Wash . showed the sharpest decline of 22.48 % with 2586 total sales . Fort Myers showed positive growth (+ 2.64 % and 3691 total sales ) while other Florida markets including Miami-Fort Lauderdale ( -6.03 %), Jacksonville ( -4.71 %) and Orlando ( -4.01 %) posted slow downs . Los Angeles , Calif . and New York , N . Y . also fell significantly , at -18.49 % and – 18.99 %, respectively .
KEY PERFORMANCE INDICATORS
Benchmark your performance against these five marine dealer key performance indicators , offered through Boating Industry ’ s partnership with Spader Business Management , to stay focused on what ’ s important to your business .
60.0 %
50.0 %
40.0 %
30.0 %
20.0 %
10.0 %
0.0 %
-10.0 %
55.2 %
7.4 %
% OF GROSS MARGIN
3.4 %
19.6 %
-20.0% Total Total Total floorplan Total personnel advertising interest semi-fixed
24.8 %
-10.3 %
Total Total net fixed operating profit
SALES VOLUME
11.5 %
$ 1,050,358 through January 2022
$ 929,771 through January 2023
NEW BOAT INVENTORY
81.9 %
$ 4,184,473 through January 2022
$ 7,612,118 through January 2023
NET PROFIT
257 %
$ 21,242 through January 2022
$ 33,308 through January 2023
USED BOAT INVENTORY
56.6 %
$ 510,674 through January 2022
$ 7999,823 through January 2023
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New York , NY -19.0 % Minneapolis-St . Paul , MN -17.8 % Miami-Fort Lauderdale , FL -6.0 % Tampa-St . Petersburg-Clearwater , FL -2.6 % Dallas-Fort Worth , TX -16.2 % Detroit , MI -14.2 % Houston , TX -10.7 % Los Angeles , CA -18.5 % Orlando , FL -4.0 % Fort Myers , FL 2.6 % Jacksonville , FL -4.7 % Charlotte-Gastonia , NC -8.7 % Birmingham , AL -7.5 % Sarasota-Bradenton , FL 2.4 % Seattle-Tacoma , WA -22.5 %
* Seattle , Los Angeles , New York and Minneapolis showed significant decline , while Fort Myers and Sarasota showed some positive growth .
46 march 2023 www . boatingindustry . com