From the article:
"They also planned to sell used cars, as well as offering vehicle servicing."
Totally agree, definitely an apples and oranges situation. New car franchises will also sell the late model trade-in's the franchise accepts to be placed on their forecourt but these are typically higher value late model cars traded on new ones as opposed to the typical $10-15K vehicle Turners sells which is their bread and butter. You could very easily make the case that Turners will get more business because older model trade-in's a new franchise doesn't want on their lot will simply be driven down the road and sold to Turners at wholesale.
I think the metrics on Turners at this price point are compelling and I am really enjoying the regular strong fully imputed quarterly dividends, the next of which is due to be paid out next Wednesday and will pay for many enjoyable treats for the Beagles.
A bit of a dip over the last few days… tempted to buy some more but they are already a large part of my portfolio…
The million dollar question is if Turners can off-set inflation, costs of living etc against their increasing market share. The decreasing number of car yards/competition, difficulties importing vehicles, and Turners increasing their outlets (Rotorua and Nelson) hopefully ( a bad term for any investor) are in Turners favour.
RECORD RESULT to be announced soon
TRA share price has caught the bug and looking a bit sick
Hope it doesn’t drop to 350 or so….that wouldn’t beca good look
That’s a bold forecast 😎
My data suggests you could be right, but what do you base it on?
Todd said so a few weeks ago
http://nzx-prod-s7fsd7f98s.s3-websit...687/366468.pdf
But then RECORD has a few meanings eh …and I might have misinterpreted what Todd really meant and it’s not really a record like highest ever. They