- Forum
- Markets
- NZX
- TRA - Turners Automotive Group [previously TNR - Turners Limited]
-
30-04-2020, 10:03 AM
#6201
Thanks everyone for attending our first Zoom Q&A...I wish I had got a photo of the screen!
Unfortunately I forgot to hit record so sorry no recording.
Again if anyone has any follow up questions please email myself todd.hunter@turners.co.nz or aaron.saunders@turners.co.nz
Thanks
Todd
-
30-04-2020, 11:05 AM
#6202
No recording, couldnt make the time.Oh well thanks anyway.How are peoples sentiments?
-
30-04-2020, 11:28 AM
#6203
Originally Posted by Joshuatree
No recording , couldnt make the time.Oh well thanks anyway.How are peoples sentiments?
it presented the company as being well managed and dealing with all the CV19 challenges as well as can be expected. Banker support for up to 5 months of lockdown if necessary . Business model not fully undercut, with some operations continuing to generate revenue. Consignment vehicles 50% and to increase over next few months so as to reduce funding requirements. No expectation of capital raising.
I am not ready to invest more however remain holding at about 10% of portfolio and look forward to dividends resuming asap.
For clarity, nothing I say is advice....
-
30-04-2020, 01:12 PM
#6204
Just checked some used car prices on TradeMe. Prices have definitely dropped (I checked against a pre-lockdown newspaper prices) but only around 5% so far.
If I were a used car dealer, I would be fire-selling ASAP and getting rid of all my existing stock at cost or lower if required.
Plenty of opportunities to restock at much lower prices when the rental cars start dumping stock.
-
30-04-2020, 02:23 PM
#6205
Originally Posted by Balance
Just checked some used car prices on TradeMe. Prices have definitely dropped (I checked against a pre-lockdown newspaper prices) but only around 5% so far.
If I were a used car dealer, I would be fire-selling ASAP and getting rid of all my existing stock at cost or lower if required.
Plenty of opportunities to restock at much lower prices when the rental cars start dumping stock.
No there won't be! All that excess rental car stock will be going through Turners. All other dealers will be out of luck ;-)
SNOOPY
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
-
30-04-2020, 03:30 PM
#6206
Originally Posted by Snoopy
No there won't be! All that excess rental car stock will be going through Turners. All other dealers will be out of luck ;-)
SNOOPY
Turners has a contract with all the rental car companies to sell their used-car stock?
I thought that there are a few dealers specializing in selling ex-rentals - Orix, AutoSelect & FleetPartners to name 3 off the top of my head.
Must admit it has been a while since I talked to anyone in the industry however.
Last edited by Balance; 30-04-2020 at 03:35 PM.
-
30-04-2020, 03:35 PM
#6207
Originally Posted by Balance
Turners has a contract with the rental car companies to sell their used-car stock?
Turners will be buying the cheap ones for Carly or whatever it’s called
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
-
30-04-2020, 03:50 PM
#6208
One thing you can be sure of is it's a mess,there are also going to be a vast amount of company cars being sold,as downsizing and layoffs continue.So are the buyers going to be there?
-
30-04-2020, 03:52 PM
#6209
Originally Posted by steveb
One thing you can be sure of is it's a mess,there are also going to be a vast amount of company cars being sold,as downsizing and layoffs continue.So are the buyers going to be there?
I am looking to buy 1 SUV - at around half price of what they are trying to sell today.
Cars, being a durable discretionary spend, will imo definitely feel the impact of the recession as bad as the tourism & hospitality sectors - maybe more so due to the collapse of the rental car industry.
Last edited by Balance; 30-04-2020 at 04:00 PM.
-
30-04-2020, 04:00 PM
#6210
Originally Posted by steveb
One thing you can be sure of is it's a mess,there are also going to be a vast amount of company cars being sold,as downsizing and layoffs continue.So are the buyers going to be there?
according to Aaron from the meeting - " if the price is only $1 then will there be enough buyers? "
For clarity, nothing I say is advice....
Tags for this Thread
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
|
|
Bookmarks