From NZA's 28th April update;
‘Our new leadership team has been razor-focused on prudent cost controls, accelerating penetration
rates on finance and insurance, and managing price and promotions more effectively whilst tailoring
inventory to specific locations. This has seen gross margins improve significantly in the last quarter,”
Turners are the NZ leaders in second hand cars.
While the number of used car dealers closing up shop is increasing,both TRA and NZA are seeing their market share increase.
Turners have a market cap of $298 mil and are the 54th largest company on NZX by free float,NZA is one of the smallest with a market cap of just over $11 mil.