A dose of realism is overdue.
Yeah, YAWN...I've heard it all before, countless times. I won't quote really old posts as that's not really cool but if you go back to 14 September 2017 when the shares were ~ $3.20 you'll see quite clearly I was starting to really lose faith, while others were talking of 25% per annum eps growth and some even of $5 by late 2019.
I think some people really don't get it that the used vehicle market is, and always has been, and probably always will be, an extremely tough low margin business with no moat to entry with its market share being steadily eroded by private sellers and buyers on Trade Me.
The receivables ledger was going from bad to worse in boom times before this virus with bad and doubtful debts steadily heading up indicating systemic issues with their approvals and collections process. I believe that's the reason they couldn't sell it. Now we're in a severe recession, (possible global depression), they are going to get smashed with bad debtors in their finance division, as sure as night follows day.
I believe they are actually very poorly positioned to weather this deep global recession, possible great depression because they have recently expanded their retail footprint with lots of expensive long leases. Very good stock to avoid, in my opinion.