Sign of the times?
Waiting list for a new Toyota hybrid was 9 months last year.
Friend just offered a new one in January.
Sign of the times?
Waiting list for a new Toyota hybrid was 9 months last year.
Friend just offered a new one in January.
Buy interest as good as non-existent currently. Still, at say, $3 the fully imputed yield would be 7.66% and that would have to mean something to somebody so should represent a genuine floor price.
I looked again at the half year result (to 30 Sept) announced late November. One interesting comment is that the number of registered dealers in NZ (ie the competition) are currently at the lowest level in 9 years, and the NZ used car market volume is down 7.5%. Despite (or because of) that Turners market share is increasing quite significantly, from mostly locally sourced vehicles (which I note is the emphasis of the Tina advertising!), and further expansion in Timaru, Napier and Tauranga is planned to complete during FY24.
Dividend guidance for FY23 is maintained at 23cps, the majority to be declared in relation to the second half as is normal for TRA.
I intend to remain holding (see 7631#).
I guess the question is how the next year will go for them. How will markets react to the promised recession as well as to government increasing thumbscrews for polluters? Any risk that loans turn bad when people can't afford anymore the increased cost for mortgage plus the car loan?
SP was in March 2020 below $1.20. Will we see that again?
I think that the massive reduction of imported used vehicles must also effect TRA. colloquially my local branch has seen a reduction of 200 imports across the block per month to 10!!!
These guys are my biggest hold. the general tone of the last couple of announcements have got me feeling that things are really slowing down for them. There wasn’t the usual bullish tone from Todd…. And even the chat on this forum has been so. Hoping to be proven wrong in the next announcement! I would like to buy more, but will hold for now I think.
It is better to be cautious in times like these. I feel Todd has always underestimated and over delivered. I must admit we are heading into some uncertain turbulent times and having some cash available is a must.
I’m not planning on selling in a hurry, but very cautious to accumulate more without some more up to date news no matter how cheap I feel they are getting.
That’s my gut feel too. Well run business and gaining market share but it’s been tailwinds and if things like interest rates, unemployment, fuel prices all go up and inflation is a bit sticky in NZ it could be tough going. I don’t own any but I wouldn’t mind buying some but I’m personally just going to wait until it clear interest rates are peaking. A lot of good dividend share are being re rated by the market as interest rates keep increasing
If your a buy and hold investor who believe in them long term I reckon you just hold and let us punters take the risk we miss the boat when the tides turns. The imputed div gives you some safety at the moment but my gut is they trade a bit lower yet.
Great company, 2nd biggest holding under HLG. Not selling any for the next decade or until they have 50+ branches (same as Toyota). Keen to buy more when it’s really cheap. Let’s see how low it goes
Finance division performed not the greatest recently. I expect that to improve over the coming years.
Consistent EPS growth will re-rate TRA. Look at the multiples briscoes gets vs the other retailers due to their consistent eps growth
Why would anyone invest in a 5 year term deposit when they can buy TRA? Yield is better and better get it will grow!
The banks must be laughing all the way to the bank
Share price down 26% on a year ago could be one reason......
I'm happily holding (and recently added to) TRA and 3 bank stocks.
Not laughing yet, but not crying either.