There is a perspective that you can look at it from both sides.
In good times people update their cars.
And in bad times they repair them.
Guess you can make money on both sides. Do Turners do repairs...didn't think they did.
Don't think they do, either.
But then - how much money would you invest into repairing a 20+ year old car (excluding vintage cars ;)?
Repairs on a very old car quite easily get more expensive than buying a newer car. Now - if its not economical to repair it, and you still need a car to get to work, what would you do next?
You've also got to consider the downtime and inconvenience of vehicle breakdowns especially for those people who are relying on their vehicles to get to / from work or for business meetings or who need to pick up kids / grandkids from school at defined points in time. Owning vehicles older than 15 years has significant downsides in my opinion, (albeit a given that depreciation has run its course). Autosure breakdown insurance is fine but there's no insurance for all the inconvenience and downtime just the cost of the repair less the excess of course.
Wish you could convince my parents of the downsides of owning older cars! Can't for the life of me get them to get rid of their two old clunkers and replace them with something newer!
Still, need to have the retirement village chat to them as well.....that's a whole another level of "discussion":confused:
Your parents are not alone.;From Turners Investor Presentation 27th July 2017,page 9.
Average age of a car in NZ is 14 years.
20% of cars [aprox 700,000] are more than 20 years old.
23% of NZ drivers say they are very likely or extremely likely to buy a car in the next 12 months.
It is also extremely likely I will be adding to our TRA holding this afternoon or tomorrow morning at $3.44.
The SP cannot get traction if major shareholders keep flooding the market with shares.
The very large sell down by Hugh Green family was always going to take time for the shares to find loving,caring homes.
I would think this parcel is just some one taking quick profits,from that sell down.
I have seen John Ryder sell out of Ryman very early on,Mark Stewart sell out of Ebos before they took off,so although I watch who is buying/selling I pay more attention to the actual company's fundamentals.
Milford again.?...lol.
Just received the contract note.Very please to get the number I asked for.