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

[RTM]

Actually - if things turn sour, people are much more likely to buy a used car than a new one, i.e. great hedge.

As well - 20% of New Zealand cars are more than 20 years old (that's 700.000 cars). Most of them clearly need a replacement soon. How many of their owners would you expect to buy a new car as a replacement?

Have a look at their recent investor presentation:

https://www.nzx.com/files/attachments/262355.pdf

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.

[BlackPeter]

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?

[Beagle]

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.

[Benny1]

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"

[percy]

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.

[sb9]

It is also extremely likely I will be adding to our TRA holding this afternoon or tomorrow morning at $3.44.

Hmm...are you throwing a curly one there with ref to the large crossing of 800K shares at 3.44 a piece??

[percy]

Hmm...are you throwing a curly one there with ref to the large crossing of 800K shares at 3.44 a piece??

Put my hand up with Craigs for some.
Will have to wait for the contract note to see if I received what I asked for.
Would expect confirmation by tomorrow morning.

[Beagle]

The SP cannot get traction if major shareholders keep flooding the market with shares.

[sb9]

The SP cannot get traction if major shareholders keep flooding the market with shares.

I hope that's the last of any major selldown by a large holder at discount.

[percy]

I hope that's the last of any major selldown by a large holder at discount.

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.