Brokers always say that ....but that solid growth not reflected in the ‘forecasts’
Just as well Turners don’t sell new cars .....and hopefully punters who need a ‘new’ car are buying decent used cars
http://www.sharechat.co.nz/article/1...-continueshtml
I think that's a VERY stark illustration of how the economy is cooling and many consumers are deferring expensive replacement decisions of many different types.
We have the now, well known problem of used campervans not selling and as someone who is taking more than a passing interest in boats at present I can see that very very few boats of any decent value have been selling on Trade Me. Fortunately TRA's one saving grace is most of their customers are not making a discretionary purchase and their previous clapped out ride needs to be replaced with another heavily used one.
I hope that Turners raving on how ‘big data’ is going to transform their business is not just a case of jumping on the band wagon and saying the right things.
For such a strategy to be successful a cultural change is required within the company. Even with the data and analytics they already have they have seemed pretty slow in identifying problems / issues ...but I suppose you’ve got to start somewhere.
"Cartopia" or some similar phrase a few years ago was supposed to be the way to incredible online growth in sales using big data and overseas based analytics'....I think they ran into a tiny wee problem called Trade Me. They've been playing with that "Buzzwords app", its as simple as that.
Bottom line is 90%+ of vehicles are listed on Trade Me and more and more people are cutting dealers margins out of the loop using Trade Me who now have a tie-up with Motor Trade Finance for online finance.
Turners have got trademe covered with plenty of its cars for sale on there.
One way of looking at it, another is Trade Me have Turners covered with more than 90% of the total vehicle market place on its site.
Everyone I know that's looking for a vehicle starts by looking on Trade Me and many dealers use indicative asking prices on there as a point of reference because of the depth of the market. Turners will always be a minnow compared to the online market place that is Trade Me and that's part of their problem going forward in my opinion, not that they will ever admit to it in one of their presentations...
https://www.nzx.com/announcements/335717
Director throwing $40k at more TRA shares.
Must be undervalued big time
We know it should be worth north of $3
At least that's what the directors say
Yes Turners have used Trade Me, and other chanels, to become the biggest used vehicle and machinery retailer in NZ.
I except they will continue to do so for the foreseeable future.