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

[Rawz]

Hey rawz, a question

Oxford has the best processes to meet the new regs ….but does the verification etc mean they have to reject more applications than they might have done pre regs.

My understanding is the HGH and UDCs of the world are still approving the same levels of finance.. the big issue is when the car loan application is sent for drawdown and the new verification piece comes in. You see these cheeky customers/car dealers/brokers were entering not so accurate expenses or income into their systems. The funders had to literally create entire new teams to verify the inputs which is when it was rejected, then re-worked, then re-approved, then loan settled. Most of it still gets financed. But very annoying for the car dealer and customer. Should be sorted up front! Not conditionally approved.

Todd's post earlier in the year gives comfort that Oxford technology sorts it upfront. Much better and more reliable for the car dealers. And I reckon Oxford has won heaps of new business (dealership) relationships

Todd said this earlier:

Oxford have been very early adopters of comprehensive credit scoring (this information gives us an immense amount of data on a customers payment history with credit cards, loans, utility bills etc.), we have been early adopters of tools that help automate income verification and affordability assessments, and affordability assessments and income verification have been a core part of the Oxford credit process for over 3 years now

[Beagle]

Hoping for a trading update and 6 cps dividend announcement any day now, (announced 10 March last year).

[Louloubell]

Yep, this will give the share price some momentum in the right direction as long as the results are as expected and communicated.

[Rawz]

"Oxford see record volumes"

[DeathByWarriors]

They've been eerily quiet lately. Hoping for a decent upgrade as part of the announcement.

[Ggcc]

My guess it will be known by the end of this week , although who knows in these times. Everyone is focused on Ukraine and gas prices.

[LaserEyeKiwi]

https://www.stats.govt.nz/news/card-...micron-spreads

todays stats NZ Feb figures show a slowdown in motor vehicle sales for Feb (Omicron Impact)

[DeathByWarriors]

Do people really use cards to purchase vehicles though or is that for other vehicle related expenses (excluding petrol)? Most cards have a daily transaction limit around $10k anyway

[LaserEyeKiwi]

Do people really use cards to purchase vehicles though or is that for other vehicle related expenses (excluding petrol)? Most cards have a daily transaction limit around $10k anyway

It's measuring like for like. Previous measurements have pretty well matched vehicle sales activity.

[Jonette]

Using sales from Waka Kotahi - https://nzta.govt.nz/resources/new-z...xisting-fleet/

General Trader Sales look poor since July 2021 when the Auckland lockdown started, NOTE, this includes all traders, and many such as 2Cheapcars (NZA.NZ) stopped selling entirely. Turners stock was reduced severely in Oct, so they may have had a boomer quarter, they are the biggest trader, but in lockdown they don't drive the trader data.

Dunno yet, I'm waiting to see the next results to see if my assumptions hold - I upkeep an interesting data set.

Trader Sales.jpg