Dealer profit slips in July
September 14, 2004
Filed under Archives
Overall dealer profitability, as measured by Top Gun dealers nationwide, fell in July to 8.6% from the 10.6% recorded in June. In July 2003, the profit margin was only 7.9%. Overall net profit for the year through July was 7.2%, a slight improvement over the 7.1% YTD figure recorded through June, but below the 7.5% marked through July 2003.
Gross profit per vehicle financed was $512 in July, up from $456 the previous month and up from $374 in July 2003. Showroom traffic was up 2% in July compared to June. psb