TRA - Turners Automotive Group [previously TNR - Turners Limited]

[billkiapi]

For what it is worth, I think TRA is good buying at this price and I have doubled my holdings.

agreed, this is a well run company imo, and good for long term value.

[Ggcc]

TRA now continuously trading below key support of $ 4 ...making me nervous ...hopefully it will turn around sooner then 21st May !!!

Lack of commentary here on this SP downtrend makes me feel all is going to be good and its worth adding here then getting worried ...still more thoughts about why SP came below $ 4 will be comforting ....

Hey I am not concerned yet, as the current team at Turners have never let us down so far. I expect to hear that things are tough right now and that car sales have slowed a little above $25,000 and we might see an increase in people not able to pay their cars off, but car sales of the below $25,000 are what they prefer trading in. I believe we will see an increase in market share and a positive longterm outlook. 2025 will see the share price of loads of good NZX stocks increase to their higher value.

[bull....]

TRA now continuously trading below key support of $ 4 ...making me nervous ...hopefully it will turn around sooner then 21st May !!!

Lack of commentary here on this SP downtrend makes me feel all is going to be good and its worth adding here then getting worried ...still more thoughts about why SP came below $ 4 will be comforting ....

yep not much buying support at these prices for the sell down. insto's must see value at lower price ?

[kiwical]

This is a semi newbie question, but are there recognised issues with buying competing companies? I own some 2CC but have resisted TRA so far. Mainly because I have 2CC. Vaguely because of diversification issues, but I also think it might be silly to hook into 2 companies that are to a greater or lesser extent competing with each other. Or should I forget all that and just buy a stock if I see value in it?

[Snoopy]

This is a semi newbie question, but are there recognised issues with buying competing companies? I own some 2CC but have resisted TRA so far. Mainly because I have 2CC. Vaguely because of diversification issues, but I also think it might be silly to hook into 2 companies that are to a greater or lesser extent competing with each other.

When I buy a share, I actively look for a 'competitor' in that same industry that I can buy into as well. Why? Because it stops me getting 'tunnel visioned' and believing my favourite company's press releases, without any other context. Turners Automotive Group may come across as a 'car company'. But it is actually a finance company (the old Dorchester Pacific) that happens to sell (quite) a few cars. 2 Cheap Cars, as I understand it, have got out of the finance business. So TRA and 2CC probably don't overlap as much as you think.

For the record I own TRA shares myself, as well as shares in another 'competitor' finance company called Heartland Group Holdings.

SNOOPY

[alokdhir]

yep not much buying support at these prices for the sell down. insto's must see value at lower price ?

Selling is relentless ...makes me wonder seller knows something which we will know soon ...rerated down 20% in last month or so !!!

[bull....]

Selling is relentless ...makes me wonder seller knows something which we will know soon ...rerated down 20% in last month or so !!!

we will find out fore sure shortly if there was something smelly under the bonnet

[alokdhir]

we will find out fore sure shortly if there was something smelly under the bonnet

Today it shud recover or at least stabilise ...if not then something surely cooking which we may not like on 21st May !!

[toddhunter]

Things are a bit tough for turners (and I am sure other car dealers)if you read this memo
Attachment 15102

Hi everyone time for me to step in again.

Not sure how this image was taken, probably not worth digging into that. This is basically a buyers guide for our car buyers and steers them on the cars to avoid (known mechanical issues...we get this data from our insurance business Autosure + experience) and who they need to get approval from internally to buy cars. Your comments are completely off the mark sashadidi. It doesn't signal anything about how tough or otherwise it is for Turners. What is does signal is that demand is shifting down the price point curve and moderating above for more expensive cars ($20k and above). Unsurprisingly used cars remain resilient but consumers have less to spend...it isn't rocket science and something we have been talking about for 18 months now. This internal document simply helps ensure we source cars where the demand in the market is and avoids the known problem cars...and we are doing this quite successfully as well.

As at the end of March the value of our inventory was down but stock units up. Mar-24 3,465 units @ average price of $7,200 (FY23 3,021 units @ average price of $8,600).

[bulltrap]

Not sure how this image was taken, probably not worth digging into that. ... Your comments are completely off the mark sashadidi.

Thanks Todd for levelling with the shareholding community. Wish others would follow your example.

That was an odd post from sashadidi after nine years of silence. In my view, posting comments on customer experiences, and gauging foot traffic in public places of business, is all fair game and welcome commentary. Posting internal documents on the other hand, is murky territory.

I wasn't dissuaded from recently buying back some of what I sold in the NZX50 inclusion event. Happy holder once again.