TRA - Turners Automotive Group [previously TNR - Turners Limited]

[Baa_Baa]

No doubt Turners want to use the CL8 software to market the sharing facilities in NZ. Whether or not they use the DriveMyCar brand or adopt their own remains to be seen.

On the face of it that would appear logical, giving Turners quick access to a car sharing platform. Oddly though it is a big departure from core business, but then again Turners have yards full of vehicles that they could be offering to market for car sharing. I've followed CL8 for about 5 years, they have not impressed me in any respects, constantly shifting strategy, schizophrenic solutions left abandoned when they don't work out, constantly raising capital, share price around all time lows after years of decline, propped up by Hyshenk (major shareholder), poor execution, questionable leadership, unprofitable. They have for year mislead shareholders on imminent profitability, no more cap raises and been opaque about strategy or execution. They may survive and prosper eventually but since I've been in and out a few times (an occasional trade on news, sell the spike), I've seen numerous competitors emerge in Aus that are executing more effectively, and now there are a number of established competitors (in car sharing) in New Zealand.

I'm unsure why Turners would diverge into car sharing and slap a cool million into this company CL8. Has this been flagged anywhere in their strategy? If so they could've bought CL8 at 7/10th's of a cent recently (or maybe that's what they paid?). Again on face value, this is a much better deal initially for CL8 than it is for Turners, CL8 get the money and Turners get a stake in a company that has struggled for years.

[percy]

I think you are right.

Still interesting that TRA's (car selling) and CL8's (car sharing) performance appears to be sort of correlated, but maybe the common factor lies somewhere else. Any ideas?

No ideas at all.!
I take confidence in Todd Hunter being a lot closer to the second hand car market than I am.I guess he sees the market going in certain directions, and the tie up with CL8 will save Turners time and money,trying to be ahead.
We have seen HGH with Harmoney [and others],and Ebos is doing the same with MDR.[putting a small pinkie toe in the water]
I am sure Todd will give us the full reasons when we have their [shortly to be announced] travelling shareholders' Road Show.

Thanks to my kind friend, who sent me photos of the work in progress at Turners new Archers Road site.Coming aong nicely,and looks as though it is going to be a cracker.!

[Marilyn Munroe]

I was listening to a item on Radio NZ the other day which covered the competition between ride sharing apps OLA and Uber.

The head honcho of Uber in NZ was questioned whether this competition would harm Uber's pofitabilty. Possibly the honcho conceded but we are developing diversification into new fields including car sharing.

So if Turners brings their own sharing business to NZ they may be in the market space with Uber. A company with a proven record of implementation and customer acceptance.

Boop boop de do
Marilyn

[Balance]

https://www.nbr.co.nz/story/turners-...runtled-vendor

Interesting.

Means TRA got a good deal or bad deal?

[percy]

https://www.nbr.co.nz/story/turners-...runtled-vendor

Interesting.

Means TRA got a good deal or bad deal?

Depends who you are,either Turners or BuyRight Cars vendors.
Going to court means both parties feel "hard done by".
Turners have had to put their own people in, and rebranded to Turners,so that shows how Turners see it.
BuyRight Cars will say they had a great business, until Turners buggered it.
The courts are the best place to sort it out.
What I would like to know is how the rebranded business is performing.I would guess the Turners strong brand is working just fine.

[bull....]

Heat Comes Off New Vehicle Market

http://www.scoop.co.nz/stories/BU190...cle-market.htm

new car sales feed into used car sales

[Balance]

Heat Comes Off New Vehicle Market

http://www.scoop.co.nz/stories/BU190...cle-market.htm

new car sales feed into used car sales

And exactly per your comment : https://autotalk.co.nz/news/imports-...-steep-decline

"Imports continue steep decline"

[percy]

And exactly per your comment : https://autotalk.co.nz/news/imports-...-steep-decline

"Imports continue steep decline"

Did not realise Turners sourcing more cars in NZ would affect imports so much.

[Balance]

And exactly per your comment : https://autotalk.co.nz/news/imports-...-steep-decline

"Imports continue steep decline"

Real estate agent at our coffee group has been bemoaning the huge drop off in property sales since the beginning of the year - waste of time having open homes (a basic requirement to win a listing) during the weekends but she has no choice but to continue to do so.

As to why she is feeling such an exponential hit on her income, her observation is that the good years leading to 2017 had attracted a huge increase in real estate agents and when you have less sales as now, the equation is most distressing indeed to income levels.

Car sales dropping and looking around at the proliferation of used car yards all over Auckland (cannot comment on other parts of NZ), the same can only be true as well of car dealers.

More car dealers + less car sales = lower margins = less profits.

[percy]

What your friend told you is contrary to what I, and Turners see.
The second hand car sales yards are contracting,ie fewer yards and fewer dealers.
This is perhaps one of the reasons Turners are gaining market share.