Wasn't this the same company that commissioned research into director fees that surprisingly indicated they needed a pay rise. With no mention of closest peer cml director fees.
I wouldn't trust any of their self commissioned research
Last time was towards end of last year. With the Russian firm just behind Turners. Excellent service, car and price. Turners did not stock vehicle we were after (Subaru).
Before that was "Firm That Shall Not Be Named" but man, their cars seemed too cheap as were their facilities. Dodgy car and I wonder if staff had work permits. Didn't buy
Before that some guy flogging a few cars out of his garage. Great guy, great car great price.
Before that Hyundai dealership. Great service, great price, great car. Even better was after sales support. Charged me about 5 bucks to replace a rear bulb that was tricky to get out.
Before that Value Cars Warehouse. Great car, great service, great price. Put right iffy battery before sale.
All cars ran really well with no problems.
Geez - there really is quite the selection!
You will be forgiven to think that you missed that profit upgrade announcement from company...there wasn't one.
Market profoundly dislikes uncertainty. Now that the company has ostensibly confirmed the tougher trading conditions they articulated in late November 2018 some of the uncertainty is removed. Didn't notice any really strong adjectives in their presentation like extremely tough or very challenging so maybe an okay-ish sort of result coming for FY19 ?
There never was a downgrade ....most just assumed it to be
NPBT will still be $35m to $36m
Is that an upgrade ..no ....but better than expected seeing the possible hasn’t likely happened
Close at 233 — cool
Never again to see the 220s
Better than expected guidance = share price back to 3 bucks sooner than later
Undercover snoop number 2
Dropped into Turners in Hamilton last friday early arvo.
Great location very visual, from the busy road, like tauranga, modern looking, simple lines and tidy as.Zillions of vehicles.
Went in through the side entrance this time straight to the free standing workstation in the big open shed full of cars. Unlike tauranga no one at it and the staff strolled around ignoring us, nothing brisk here. I finally went back to office in main entrance and had to ask where the catalogues were, hard to find, they were on both counters in tauranga. My mate came back from the toilet and someone had turned up at work station. He asked about EV's and Hybrids. She couldn't help him!!!?.Couldnt find if they had any!
We spent about 20 mins there, it was bigger and more stock then tauranga. We didn't see even ONE punter looking the whole time!!!:confused:.
Maybe they would sell more cars if they offered with each purchase a free massage with a happy ending?
I think most punters are looking online now and physically only turn up on the weekends to test drive and haggle the deal.
I've previously been to the massive yard Andrew Simms has at Botany Downs on a Tuesday and was the only one their evaluating a car and that dealership represents quite a number of marques and is VAST.
Yes im planning a weekend visit and it would be interesting to know what % goes to dealers.
Still trying to use the TRA story to learn - and find the current "uplifting mood" on this thread quite interesting.
So - where are we?
SP lifted from a low of $2.14 to previous highs of $2.33 (but not higher). No higher highs;
Volume was throughout the bounce neglegible, low even for such an illiquid stock. No big buyer, no market support.
SP just scratched the MA50 and is ways below MA100 and MA200;
Looking at the trendline - the indicators for the current bounce look quite similar to the bounce around October last year (compare the blue potatoes with the red potatoes :);
Attachment 10401
Similar SP bounce (obviously different start and end points), similar low volume and similar RSI shape and level.
While I wish holders all the best - I think there is a good chance the bouncing cat is dead ... not seeing any signs of market confidence.
But of course - they could come out tomorrow and telling us about this amazing upswing in the second hand car market - and up she would go ;);
I was in AutoDream the other day looking at a 2005 Nissan Bluedird done 16,303 klms.Idea was to replace the daughter's which has done 130,000klms.
Asked the salesman whether trade was a bit slow?.No "about nornmal."
Perhaps posters may have realised used car sales are "about normal."
Then again, if you read the link W69 gave post # 4670 page 312 on this thread,we know Turners developments produce great results,"The whole nine yards."
Even better to know this site is owned by Turners,and it will produce great results for years to come."Turners Corner".
I note we have had no share buy back announcements since 8th March.
FNZC are doing the buyback for Turners.
On 7th March 81,579 TRA shares were traded on market.
On 8th March Tra announced they had brought back 35,042 shares...or 42.95% of the shares traded,not 30%
On 5th March 48,722 TRA shares were traded on market.
On 6th March TRA announced they had brought back 23,000 shares or 47.20% of the shares traded,not 30%.
On 6th March 329,744 TRA shares were traded on market.
On 7th March TRA announced they had brought back 163,000 shares,or 49.43% of the shares traded.not 30%
I see CMO published their half yearlies already 4 weeks ago:
https://www.nzx.com/announcements/330839
Revenue up 4%, but earnings down 9.3%.
I guess this fits well into the cyclical picture of the car market TRA published recently (https://www.sharetrader.co.nz/showth...l=1#post751258) - doesn't it?Quote:
The immediate outlook is for revenue to remain high but lower margins and higher costs will constrain trading profitability.
Maybe we should be prepared for the downturn in the industry to continue for the next couple of years ... A return to $3.80 might take a bit longer ;);
Maybe.?
However I see TRA's
Sales from new yards helping to keep sales up,and offering the opportunity for finance and insurance.
finance ie Oxford Finance enjoying growth from incresed number of originators.Now approx 500 sites.
Autosure enjoying growth.
Service enjoying growth.
Excellent property development [revaluations],and a possible good profit from a North Shore site sale.
Whangarei.Interesting to note the new site is in a much better location and holds 25% more vehicles.Will yearly turnover be
up 25% to 50% or more.?
Possibly very large developments in both ChCh and Auckland.
At this be of those friendly investor roadshow that’s NGOs last year I heard they were talking about doubling market share
Wonder how that’s progressing
Progressing well.driven by both more sites and better located sites.
Whangarei,New Plymouth,Hamilton {BuyRight Cars], and Wellington would be helping that strategy.
New site on North Shore [Archers Road]should be open in August, and also a new development announced for Westgate.
I also "vaguely" remember 5%.
Does this answer the question ?
Attachment 10416
To me this says they have 10%
Maybe it was 5% and now about (but less than) 10%
Doubled msrket share ...job well done
A marketeers nightmare.....
.....41% say Turners most trusted used car dealer and 88% say they will use again .......but market share between 5% and 19%
Your comments should be directed at the other Beagle.
End of Financial Year next week ...they essentially know by now the result
SO NO NEWS IS GOOD NEWS
NPBT likely to $33m to $35m .....decent growth over last year
Share price back to $3 before we know it
Glad some packed a sad below $2.20 and fearfully sold out ...thanks
https://www.youtube.com/watch?v=vURZqS2xMkI No interest whatsoever in the bait or the Moon cycle :p
Incredible.
Reminds me why ARG are happy to have a "mutually beneficial long-term reltionship " with Turners.
Land banking by ARV.
Turners need land/space/yard to display vehicles.Buildings are moveable containers. So bare land would suit them.
At end of lease Turners move on with their container buildings.
ARV have a site to "fully" develop,brought years ago, and the rent would have covered their holding costs.
Clever,like the hound who in the end woke up and scored the treat.
Well we are past the full moon,and all is well,next stop the divie announcement.
I'm afraid it will have to be a SPECTACULAR divvy announcement to make up for my capital losses on this. :(
I started getting hopeful last week when the SP rose into the $2.30 range, but alas it was short-lived. Here we are at $2.26 and a profound lack of interest from buyers and sellers alike.
Stay disappointed.!
Will be 4 cents fully imputed per share at the end of April.
Looks as though the lull in selling was caused by the seller being on holiday for a couple of weeks...lol.
ps.I have seen some photos of the new Whangarei Branch.Looks great.
One month ago I sold out my complete TRA holding after losing faith into the company. Looks like I managed to find pretty much the SP bottom for doing so.
However - on the bright side - I used the money to buy HGH ... and hey - I am already now 3% better off thanks to this swap than if I would have kept my TRA shares. And to be honest - I think my up chances look better as well ;);
Attachment 10428
Memo: It even can be good to sell at the bottom;
My SELL finger is getting itchy, but currently there's nothing I really want to move the money into - well not at the right price to justify the loss I'll make.
Sitting tight for now and waiting for winner's promised return to $3. :cool:
... unless something better comes along ...
The perfect inverse bell curve pattern not looking too good
Snow Leopard was only taking the mickey out of us.
Buckle up as car sales experience a bumpy ride
Quote:
Around the world, car sales are declining. From the United States to China, car lots are suffering from increasing unsold inventory. In China, for example, automobile sales fell 13.9% in November from a year earlier, the steepest such drop in more than six years, and for 2018, car sales recorded their first annual fall in two decades, declining 6%.
Yes new cars become used cars.
Turners buy a lot of NZ new used cars.Have to as they do not sell new cars.
They also import a great number of used [approx 6,000 a year] from Japan,so I can't see where you get your relevance from.
They can import more or less, depending on demand.
Try to think of Turners as the finance company that owns NZ biggest used car dealer.
Low interest rates and low unemployment,together with an expanding foot print should mean Turners are trading OK.
I expect their finance division is still growing,as is their insurance division,and end of vehicle life logistics business.
The surprise may be their property division.
Worth pointing out Minimum Wage increases significantly in a few days with it rising to $20 in a couple of years. This will have the effect of applying a General Wage order - the one tide will lift many ships. Plenty of head room for people to take on additional debt to purchase car
Turners might still be paying a divie that attracts and holds the long term investors, but technically it's a dog and as we know management and directors have little sway over SP market sentiment. It has smashed a whole lot of investors capital, including that of some who love this company and bought up big a while ago just for the income. Assuming they don't have to sell, I guess it's all fine.
In July 2017 the SP topped at $3.97 after a two year recovery from a prior reversal. Since then it's been all downhill even recently faltering at the common resistance of the 50MA. Currently at $2.25 it's a 50%+ loss of capital. You'd have to be pretty committed to that income and safe from having to sell your shares to be dedicated to this decline in SP sentiment with no sign of a recovery anytime soon. Or have faith in the company and be patiently waiting for a low SP to buy into the income,
That's what sorts the income focused from the capital focused investors, one is immune to SP fluctuations for purposes of income, whereas the other is very sensitive to retaining and growing their capital.
A mate reckoned he saw this on a white board at Turners ...probably from their last strategy meeting
Maybe the thinking around how they think they could make clipping the ticket actually generate real profits
All this ticket clipping imo is because company cannot make ends meet by just selling USED cars so dabbles into anything to make profit...
Maybe they could add a Lunch Bar or two on the new sites
The old Turners Seaview/Gracefield site had a cafe .....very busy as not much competition for the hungry factory workers in that area
Good use for unproductive space - rent it out
Wonder how space they have is unproductive?
Yes I thought you were ahead of them.
Perhaps the slogan will be,"Buy One [car],get one [lunch] free.!!
Just keep those ideas coming.
So property development,car sales,finance,insurance,lunch,service,and end of vehicle life logistics,debt collection,we already have some rather nice tickets to clip.
Beagle is fast asleep with his small holding...whatever you do don't wake him up to start more barking lol
Mrs Beagle
I concur...........................
The idea is great with the one stop shop. it would work in areas that have a view. If you look at the Napier Branch it is always busy in the weekend, but no room for a cafe let alone a view to skip your cuppa. Plus cafes are not as easy to run as in the past due to a lot more competition and Turners have do do things official..... It always is more expensive when things are done officially IE Hawkes Bay Seafood, which has a cafe style business, but are under investigation for paying staff under the table (which we all hear is going on in many cafes)
It has morphed into an imperfect bell curve with orca fin , which of course is still very bullish whilst the price is at or above $2.26.
Like any good TA sort I predict that ultimately the price will either go up, down or stay the same depending upon all sorts of imaginary lines and numbers and other stuff.
I will also at some juncture come back and point out how obvious it was at this time to do what ever it was which works out the best.
But until then I hold a few of these things especially as I have now learnt that Turners have cafes on site. Though I may deny holding later if it all turns to custard.
So, if someone can go check on the availability of decent coffee and custard items on the cafe menu then we can all make better informed suppositions about the future.
Suggested Dreamcatcher Cafe Menu
Cappuccino....$3.25 top end of brands
Latte.............$3.00 with a2 milk
Long Black.... $2.20 slow brewing but excellent aroma
Irish Coffee....$2.00 includes 2 or 3 shots of whiskey certainly helps nerves
Flat White......$1 80 this months special with 'USED' beans only
CUSTARD Pastry free with every car sold ........................
Throw in that massage with a happy ending for any car sitting on the yard longer than a month, purchased ,and we have winning strategy.
Should be getting a dividend announcement and market update today Percy? Hopefully not one of those 5pm announcements.
https://www.trademe.co.nz/motors/use...17af41052dd7ef
I would say all the various marques through their respective dealerships are on serious sale this weekend.
Talking of different marques,how is your new motor performing.?
All good thanks. I think all brands suffer from the occasional manufacturing error.
Good.
Yes agreed.
Even Rolls Royce can make dud engines lol
Every man and his dog's dealership is having a massive end of year financial sale this weekend.
Now we know this is much more than a vehicle retailer I think we can apply a different PE to the amalgam of their business units.
I think a PE of 10-11 is fair and reasonable and if they can make ~ 26 cps in FY20 that's suggests a significant recovery in the share price is possible.
Faulty head gasket...coolant got into the engine oil and caused massively accelerated wear and the engine seized at just 850 km's.
After significant pressure, (plenty of vigorous barking was required, just as well I get plenty of practice on here, lol) Holden supplied me a brand new 2019 Holden Calais V replacement car for my 2018 one and the new one comes with an extended 5 year warranty, something I insisted on. They fitted a new engine to my first car and it only took them 2 days to resell it, (Rioja Red, really metallic burgundy, Holden Calais is a popular colour).
Dealer was good and supplied a good quality loan car while this mess was cleaned up. New one seems to be running like a well oiled Swiss watch and is a good bit of kit.
I am philosophical. Shyte happens from time to time.
The car My partner bought from Turners a few weeks back had a boo boo and needed a new transmission. Thank goodness it happened within a few days after the transaction took place. Turners were really good with dealing with it and so were the lease company as the bill to replace the transmission was over $13,000
Whoooh pretty significant damage, it’s good that Holden sorted it out though. Yup **** happens every now n again, previous Toyota never skipped a beat for 4 years, Mercedes thereafter never skipped a beat for 9 years, then the current bmw had a mechatronics issue on 2nd day of owning it😱 like u say, **** happens
It sure does and more often than you would think...an interesting study from some years back about how often https://www.telegraph.co.uk/motoring...ty-survey.html
Turners are on to it with their Autosure warranty insurance and have been reviewing claim rates for the different marque's especially the Euro's with their "legendary" spare parts prices and I understand have been making some big changes to what they insure and the pricing.