Interesting that with only 17 days left to go to year end, TRA is not prepared or able to give a trading update?
Also, while the presentation slides of the half year results (Nov 2018) and the Forsake (Oops - Forbar) are substantially the same, there is one very interesting (and telling?) difference :
Now "Correction / consolidation occurring in the dealer markets which is good for Turners med/long term"
[B]Good med/long term?????
[/B]Clearly, TRA is being impacted short term then!
And why should TRA expect to be a beneficiary when barriers to entry in the used car industry is so low?
Yeap I picked that up too mate and skim read the presentation and interpreted it as basically confirming the downgrade announcement of November 2018.
None of this surprises me though and is probably factored in to the current share price. Those hoping for an eventual recovery to the former glory days of $3.80+ are in my opinion going to need a GREAT deal of patience.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Buy a truck and try to compete with Mainfreight.
Brand.
NZ's most trusted used car brands....Turners and BuyRight Cars.
BuyRight Cars - most trusted used car brands?
Says who?
They certainly advertise a lot but that's a function of scale.
I can tell you that BuyRight Cars is definitely NOT a quality used car dealer from personal experience! You just have to see some of the crap (high mileage aged Jap cars) they sell on their yard!
And by TRA's own admission, they bought a bit of a dog?
Yeap I picked that up too mate and skim read the presentation and interpreted it as basically confirming the downgrade announcement of November 2018.
None of this surprises me though and is probably factored in to the current share price.
Tend to agree with you but one has this nagging feeling that the downgrade is going to be a lot worse than the 5-10%.
They certainly advertise a lot but that's a function of scale.
I can tell you that BuyRight Cars is definitely NOT a quality used car dealer from personal experience! You just have to see some of the crap (high mileage aged Jap cars) they sell on their yard!
And by TRA's own admission, they bought a bit of a dog?
From Turners brand research .Nov 2017..[sorry nothing later that I have seen].
Buy Right Cars Nov 2017;Satisfaction 88%.Likelihood to repurchase 77%.
Tend to agree with you but one has this nagging feeling that the downgrade is going to be a lot worse than the 5-10%.
They have an official forecast in the market which they subsequently qualified on 27 November. One presumes that the directors know about their continuous disclosure requirements under NZX listing rules ?
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Buy a truck and try to compete with Mainfreight.
Brand.
NZ's most trusted used car brands....Turners and BuyRight Cars.
C’mon Percy ...most trusted?
2 Cheap Cars looks more trusted (8% v 4%) than Buy Right
Somebody once told me once that the gold standard of most trusted brands is the Readers Digest one.....and that used car dealers aren’t included as nobody trusts a used car dealer to start with.
”When investors are euphoric, they are incapable of recognising euphoria itself “
2 Cheap Cars looks more trusted (8% v 4%) than Buy Right
Somebody once told me once that the gold standard of most trusted brands is the Readers Digest one.....and that used car dealers aren’t included as nobody trusts a used car dealer to start with.
Buy Right cars needs a name change to Better Days Cars lol
Better days at Larry love used cars, what could possibly go wrong lol https://www.youtube.com/watch?v=2VbX22w9qws Come on Percy, you gotta admit it is kind of funny. I guess some of Turners end of life vehicles would fit right in on Larry's car lot
Last edited by Beagle; 14-03-2019 at 02:18 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
"We have recently undertaken market research which shows that the Turners brand stands out strongly as the most "trusted" brand in the used car market and the brand that has the most awareness'.
Chair and CEO's report page 6 TRA's annual report 2018.
You must have missed it W69.
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