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

[BlackPeter]

Haven't most of the manufactures already settled most of the dieselgate claims ?

Just recently 4 more Volkswagen managers standing in front of US courts ... and there is an ongoing political discussion in Germany about how much the car manufacturers need to contribute to upgrade their cars to the standards they claimed they comply with. That's millions of cars and several thousand Euros per car we are talking.

As well - some large court trials going on in Germany to decide whether the car manufacturers are liable to the purchasers of cars if the resale value dropped due to the non adherence of the car to emission standards.

On top of all of these troubles - some German cities with higher air pollution have been forced this winter by court proceedings to close critical routes to non complying diesel cars. This definitely cuts into the resale value of these cars ... not good if you are not allowed to use your car if you need it (e.g. to drive to work).

The fun only started ... lots of uncertainty. This is the reason one can currently buy e.g. a Daimler share with an EPS of above 8 Euros for roughly 50 Euros. Cheap as chips ... if there wouldn't be the risks.

But - as I said - not sure how any of that would impact on TRA's business - unless they might be able to source in Europe some perfectly good and cheap cars to sell in NZ - only trouble would be that the steering wheel is on the other side.

[Beagle]

Okay so we can add Daimler to the list of car manufactures selling for a PE of just over 6...cheap as chips, unlike their vehicles but its an awfully long list of car companies including Honda and Toyota, Honda in particular have never been big on diesel all trading at super low PE's. Could it be that vehicle purchases are cyclical in nature and even second hand car dealers will find in a bear market people will simply fix what they have instead of changing vehicles ? In the depths of the GFC plenty of car manufactures got down to PE's of about 5 but that's not far off where we are now.
Are the manufactures share prices a lead indicator for this bear market to resume ?
Sheeting this home to second hand cars we know December was down 6%, (from Turners announcement) which is a far bigger decline than general retail and everywhere I drive there's plenty of second hand dealers choc-a-bloc full of stock so I'm a little sceptical about accepting this downturn is because of a lack of stock from Japan. Time will tell but speaking of skepticism, doesn't it strike anyone as rather peculiar that there is almost always a very steady and plentiful supply of shares ready to sell into Turners buy-back ? Baker et al selling down ?

Finally, yes I agree most stocks going ex drop by the dividend amount on the day. What will be interesting is if this one recovers its dividend like most stocks do within a couple / few weeks.

[winner69]

What’s Tesla’s PE?

[BlackPeter]

... doesn't it strike anyone as rather peculiar that there is almost always a very steady and plentiful supply of shares ready to sell into Turners buy-back ? Baker et al selling down ?

I think you are quite aware that Baker (as director and insider) would need to announce any purchase or sell down within a few days (I think 5 days). Last announcement in that regard I remember was Baker buying a nice round additional package shortly before they announced the share buy back.

Come on, beagle - you can do better.

Finally, yes I agree most stocks going ex drop by the dividend amount on the day. What will be interesting is if this one recovers its dividend like most stocks do within a couple / few weeks.

Correct.

[Beagle]

What’s Tesla’s PE?

Ha ha, same as PPH, built on hype but battery cost reduction going forward could be more problematic than many shareholders are hoping for https://electrek.co/2017/12/13/batte...-cars-hyundai/
Maybe some hope for Turners old clunkers for a while yet

[BlackPeter]

What’s Tesla’s PE?

LOL - They are writing a subtantial loss: their PE is around minus 50!

Good news is that their 2017 loss was still larger than their 2018 loss. Things must be all honky dory for electric cars.

[percy]

Comparing a manufacturer like Ford to Turners, is the same as comparing a Kiwi Fruit grower to your local New World.
Possibly interesting,but meaningless.
Should Ford stop producing cars today,it would have little or no affect on Turners.

[minimoke]

LOL - They are writing a substantial loss: their PE is around minus 50!

Good news is that their 2017 loss was still larger than their 2018 loss. Things must be all honky dory for electric cars.

That was on the back of laying off 9% of their staff in June last year. This year already they've announced laying off another 7%

For the virtuous thinking of buying an EV, just think about the people who have been made redundant so you can own your flash car.

[dodgy]

What’s Tesla’s PE?

The problem Tesla has is the phased removal of US subsidies which render the cars way way more expensive for most punters. In NZ large movement to electric poses charging station availability, available electricity supplies, and working out how to recover the road taxes to keep patching our roads, battery recycling/waste etc..
-d

[Baa_Baa]

Comparing a manufacturer like Ford to Turners, is the same as comparing a Kiwi Fruit grower to your local New World.
Possibly interesting,but meaningless.
Should Ford stop producing cars today,it would have little or no affect on Turners.

Absolutely agree, it's meaningless, and imo not at all interesting. Maybe some have run out of negative things to say about TRA?