Lazydays Reports Q2 YOY Losses, CEO Remains ‘Confident’

August 16, 2024

John North, Lazydays chief executive officer, said, “Our team has focused on maintaining healthy vehicle inventory, improving F&I per unit and achieving substantial total gross margin improvement sequentially. However, the seasonal improvement in sales volume we had anticipated to occur in the second quarter did not materialize. On a same-store basis, we saw a decline in both new and used unit volume relative to the first quarter, partially offset by significantly improved gross profit per unit sold reflecting the benefits of the inventory actions we took earlier this year. Our same store F&I was over $5,300 per unit, up 6.9%, despite average selling prices being lower by approximately 17% on a blended basis.

“We have continued to focus on maintaining our healthy inventory position while increasing our efforts to procure more used units directly from consumers as trade-ins on vehicle sales have been off approximately 50% compared to our historical averages. As of today, our new inventory is comprised of 26% model year 2025 units and 69% model year 2024 units, with less than 140 2023 units remaining. Also of note, over 75% of our inventory is towable product, up from 70% at the same time last year.” RV Pro