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

**Davexl** · 08-10-2020, 11:12 AM

Originally Posted by sb9

Last day for yield chasers to get in to avail upcoming divvy..

Think I'll buy more after going Ex. If I can find enough to buy...

The combination of strong branding, covid car use and 2nd-hand value for money in a recession is very appealing...

**Beagle** · 08-10-2020, 11:31 AM

I bought back in for a modest stake on Tuesday to add some diversification to my portfolio. 9.44% gross yield is very attractive and I believe it is sustainable for the foreseeable future. I see people's reluctance to use public transport continuing, (demand for Turners cars remaining strong) and interest rates headed to zero.

**crighton100** · 13-10-2020, 04:52 PM

I see imports have dropped in a big way,which has pushed up the price of cars,so in the short time [next 6 months] the price of cars & margins will go up,can only be good for Turners.See the share over $3 in the next 2 months.Good luck [my bank warned me interest rates for investments will be around half a percent,might as well have your money under the mattress].Stay lucky

**Beagle** · 13-10-2020, 05:27 PM

My main trading bank BNZ has dropped its business call account rate to 0.05%, (that's not a typo). So to be clear, my money would need to stay at call for 20 years to earn 1% before tax. The mind boggles. What happens when the OCR goes negative, will they charge us to keep our money "safe" ?

Anyway back to Turners....sorry for the thread digression.

**clearasmud** · 13-10-2020, 09:31 PM

Read on the bull that used car prices in Australia up 29.9% year on year.

**blackcap** · 14-10-2020, 08:37 AM

Originally Posted by Beagle

What happens when the OCR goes negative, will they charge us to keep our money "safe" ?

.

That's what my broker in the Netherlands does on my on call money. So conceivably yes. That is also why there is this big push ongoing to get rid of cash.

**Beagle** · 14-10-2020, 09:24 AM

Originally Posted by blackcap

That's what my broker in the Netherlands does on my on call money. So conceivably yes. That is also why there is this big push ongoing to get rid of cash.

Thanks for sharing.

**Beagle** · 15-10-2020, 09:08 AM

On CNBC this morning used car prices up 9% in the U.S. last month after climbing about 5% the month before that. Biggest jump in decades apparently. and it seems this is a common thing in most parts of the world driven by lack of new car supply and a huge increase in demand for personal transportation as compared to public transport, (for obvious reasons). The net result is people are paying the window asking price or very very close to it with very limited ability to negotiate.

Can't import second hand cars into N.Z. now unless they have electronic stability control. Combine these two factors and what a serious tailwind this is for Turners. I wonder if Turners are charging enough for their old clunkers ? This amazing once in a lifetime opportunity to get heaps of extra margin and all Turners are talking about is a very modest uplift in profit in FY21 ? Go figure ?

Are they pulling our leg and there's probably a significant forecast upgrade coming or is this just a very average company not taking advantage of their brand power (if there is much), or are delinquent debtors the hidden problem undercutting what should be much stronger growth this year ?