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

[tommy_d]

I remember as well that I bought our kids around 2000 good quality film cameras

probably could have got away with buying them one each

[Getty]

He's got a 1000 kids tho, cant show any favouritism...

[Ggcc]

OK - I guess the transformation from horse carts to combustion engines was probably a bit before any of our times, so lets pick something closer in time to explain.

When I was young you could buy a reasonable SLR (film-) camera for the equivalent of something like $1500 to $2000. Obviously - top models have been more expensive. This was still true when (around 2000) the first reasonable quality digital SLR cameras came out.

When our children grew up (say something like 35 years ago) a reasonable quality Super 8 camera with sound was something like $2000 give or take. 20 years ago I bought a reasonable quality digital film camera (using tapes) for a similar price.

I remember all of my life lots of shops specializing in buying and selling used cameras.

Today my cell phone (an order of magnitude cheaper than the good SLR and early digital camera from 20 years ago) can do more than above cameras as well as above SLR. I know, it is tough - maybe the SLR would be with film better in landscape photography, but for other use - my cellphone is much better (looking at sensitivity, quality of picture and of course practicality. Price of a photo? 40 years ago $1 per photo, today - nothing. I better don't tell you what I used to pay for a minute of Super 8 film.

I remember that the price of a good camera (when looked after) hardly deteriorated over the years. I remember as well that I bought our kids around 2000 good quality film cameras, given that the digital ones (at similar price) just didn't cut it at that time. Two years later the digital cameras could match the quality of the analogue cameras and 4 years later the film cameras had lost all of their value - nobody used anymore a camera which made so expensive photos.

May I mention it - my cellphone, while 2 years ago top of the range is now (still new available) in the shop for something like $500.

I can't remember a lot of shops these days trading in used cell phones, people just buy them and throw them after 2 to 4 years away.

Now - this was a technical step change from roughly 1995 to 2005. In the beginning all experts could tell you that digital photography will never cut it. Ask them today. And yes, this was similar like the move from horse cart to car with combustion engine, from letter to email or from old Xerox machine to any new cheap scanner / ink printer. Lots of specialized business had their problems in any of these step changes ... but no doubt, this time it will be different :

Personally - I expect the move from combustion engine to EV to be similar - and, not too far away.

Anyway, just my thoughts ...

You should go to an infratil meeting and ask Tim Brown what he thinks about the EV revolution. He will enlighten you as he did me.

[BlackPeter]

probably could have got away with buying them one each

Yeah right - amazing how the same sentence can have so different meanings, isn't it? I was obviously talking about the year 2000, which is now already so far back in the past ....

[clearasmud]

You should go to an infratil meeting and ask Tim Brown what he thinks about the EV revolution. He will enlighten you as he did me.

And what did he say?

[Beagle]

Just crunching the numbers and assessing value going forward.
At today's opening price of $4.05 (less 6 cents back very shortly for Fy21's dividend) give s net investment price of $3.99 for FY22 earnings and beyond.
FY21 Covid affected eps was 31.4 cps so that's a trailing FY21 PE of 3.99 / 31.4 = 12.7 and that's for a company that's clearly articulated its growth ambitions going forward.
Looking at FY22's forecast yield, if we assume 21.5 cps which is 7.5% growth that's 21.5 / 0.72 = 29.86 cps gross and on $3.99 that's a forecast gross yield of 7.5%.

The recent rise above $4 looks fully warranted to me.

[Beagle]

deleted - site issues caused a double post.

[Ggcc]

And what did he say?

It was a long story and he was neither for or against EV vehicles. He mentioned until the government were clear with how they were implementing their thoughts about EV vehicles, electric companies were not ready to invest in infrastructure to deal with the inflow of the maybe's. He mentioned about the cost of EVs and kiwis reluctants to buy them without some form of subsidy. They have an electric bus at wellington airport that is charged by a diesel generator??? In short he had more to say, but laughed the idea off indicating the answer of EVs was more complicated and involved Government action and not just talking (what Cindy is so good at)

My personal belief. Most car dealers I talk to are just going with the trend. They all want to do their bit for the environment, but until we know how they will dispose of these batteries properly Im out and many car dealers say the same. Just google are electric cars good or bad for the environment.

One quote

Through their entire lifetime, electric cars are better for the climate. In the manufacturing process, electric vehicles will produce more global warming emissions than the average gasoline vehicle, because electric cars' large lithium-ion batteries require a lot of materials and energy to build.

I for one don't think EVs are the future, maybe a side step until the next future thing. Maybe hydrogen who knows. Until then TRA will continue to perform for the next few years until the what ifs and maybes are answered properly by the government.

[Biscuit]

....I for one don't think EVs are the future....

For increasing numbers of us, EVs are the present. I've had mine for nearly 4 years now, done over 100,000 kms. Cheap to run, no maintenance...

[LaserEyeKiwi]

It was a long story and he was neither for or against EV vehicles. He mentioned until the government were clear with how they were implementing their thoughts about EV vehicles, electric companies were not ready to invest in infrastructure to deal with the inflow of the maybe's. He mentioned about the cost of EVs and kiwis reluctants to buy them without some form of subsidy. They have an electric bus at wellington airport that is charged by a diesel generator??? In short he had more to say, but laughed the idea off indicating the answer of EVs was more complicated and involved Government action and not just talking (what Cindy is so good at)

My personal belief. Most car dealers I talk to are just going with the trend. They all want to do their bit for the environment, but until we know how they will dispose of these batteries properly Im out and many car dealers say the same. Just google are electric cars good or bad for the environment.

One quote

Through their entire lifetime, electric cars are better for the climate. In the manufacturing process, electric vehicles will produce more global warming emissions than the average gasoline vehicle, because electric cars' large lithium-ion batteries require a lot of materials and energy to build.

I for one don't think EVs are the future, maybe a side step until the next future thing. Maybe hydrogen who knows. Until then TRA will continue to perform for the next few years until the what ifs and maybes are answered properly by the government.

Those sort of quotes have been widely discredited, as they include theoretical carbon costs of building and powering EVs (using hypothetical mix of energy sources), but don’t include all the carbon costs of building and powering ICE cars. The far most common error is neglecting the carbon costs of petrol. The error is they base it on the carbon emitted from burning petrol in the engine, and neglect to include all the carbon costs involved with the extraction, refining and transporting that petrol from all over the world to your cars petrol tank.

And there is no question mark about “disposal of batteries” - as every single EV battery cell that is judged to be no longer efficient enough to be used in an EV is eagerly repurposed by those after stationary power storage at a bargain price.