https://www.nzherald.co.nz/business/...ectid=12142731
Interesting situation for some dealers though with SME business confidence hitting new 10 year lows according to the ANZ bank economist today.
Corporate Cars parallel imported 3 x new Audi A8's ($109K each) and 2 x new Audi A7's, ($115k each), (both brand new models just been released and the new model Audi A8 recently won World Luxury Car of the year for 2018) and the new model A7 not even released here yet. All 5 brand new parallel imported cars have remained unsold for many months now despite being priced at tens of thousands each less than through official distribution channels. Just imagine their floor plan finance costs :eek2: I was slightly tempted but have pulled my head in with the recent share market correction and I'll bet I'm not the only one. Interesting situation developing though and I agree that with the lower $Kiwi, as David Vinsen, (who is well known in the industry to be a good honest trader with a well earned reputation over several decades) suggested, prices must eventually go up and perhaps by as much as the 10-15% he suggested. I think with the currency where it is there is a bit of a tailwind to second hand car values at the lower end of the market. Higher end will struggle as people remain reluctant to commit in uncertain times, unless they have too.
Agreed, Good news about Turners value end of the market. Record month and I am pretty sure they commented at the annual meeting that August was very strong so two really strong months in a row. Is this pup finally starting to bark and if so when will the SP show some life ?
I have an interesting tale about a luxury car from the German bug group of brands parallel imported. The dude took it to an authorised dealer in NZ to get serviced. The NZ dealer got bent and twisted about it, took the ID information from the car and grizzled to Wolfsberg who used it to trace the overseas dealer who sold the car.
The overseas dealer got the "ziss is not permitted" speech and was fined his dealer margin.
Boop boop de do
Marilyn
PS. I agree the A8 is a damned nice car. My worry would be Vee Dub have a reputation for "don't care not going to fix it" attitudes towards warranty problems.
Btw, last day today to be in to get that juicy divvy. Goes ex-div tomorrow.
Interesting post, thanks. I wish you hadn't said that, I might have to try one out now lol.
Makes you wonder what would happen to that U.K. dealer that sold out 5 brand new high value cars, especially seeing as they were models that had just come out, (they normally are barred from selling brand new ones offshore, rules around demo's are a bit more relaxed). Might have his distribution agreement pulled !
Not sure about the styling of the 8 and the size of the front grille https://www.trademe.co.nz/motors/use...7b58aac7a2598c
New A7 a more sylish bit of kit to my eyes https://www.trademe.co.nz/motors/use...cf1595cd330f8b
Agreed minimoke, Turners SP has been a real "highlight" lately hasn't it along with the milk twins...on second thoughts I think I'll give trying out the new A8 a miss and just keep licking my wounds.
Trading at $2.85 with a 4c fully imputed divvy going Ex tomorrow.:confused:
Its a sad day when TRA is the only sign of green in my portfolio. If it keeps this up I might be above water by Christmas.
Perfect weather over the long weekend. Hound was tempted to go look at some flash euro cars but then thought of the first year depreciation and ongoing expensive running costs and quickly retreated into his kennel and then thought a good walk in the Botanical gardens would be a LOT cheaper and better for me too. Lots of other dogs there to pat too.
Hope Tuners sold heaps this weekend. There's is a needs based business model not a wants based one.
Must be time for Baker to buy another big pile of shares at this price ...nearly 10% cheaper than when they were really cheap not that long ago.
My buy finally got hit, i have enough now.
Another newsletter ....plenty of warm fuzzy stuff to enjoy reading over morning tea
http://nzx-prod-s7fsd7f98s.s3-websit...804/289229.pdf
By the way the site down by the Basin still devoid of cars