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

[Jonette]

Turners may or may not be under pressure, but NZAI is under a lot more, not due to sales issues though:

https://businessdesk.co.nz/article/m...or-shareholder

the link name says it all if you have not got a sub

[BlackPeter]

Turners may or may not be under pressure, but NZAI is under a lot more, not due to sales issues though:

https://businessdesk.co.nz/article/m...or-shareholder

the link name says it all if you have not got a sub

I always wondered about the wisdom to brand a car salesyard "cheap cars" ... but anyway - there might be a takeover opportunity for Turners, even if their last takeover (didn't they had some funny name as well?) didn't go that flash either ...?

[percy]

I always wondered about the wisdom to brand a car salesyard "cheap cars" ... but anyway - there might be a takeover opportunity for Turners, even if their last takeover (didn't they had some funny name as well?) didn't go that flash either ...?

TRA learnt a great deal from their Buy Right Cars takeover saga.
Think they will leave NZA to others.

[sb9]

TRA learnt a great deal from their Buy Right Cars takeover saga.
Think they will leave NZA to others.

Yeah agreed, lesson or two learnt from Buy Right saga. Do not need anymore of those sour deals.

[BlackPeter]

Yeah agreed, lesson or two learnt from Buy Right saga. Do not need anymore of those sour deals.

Obviously - we don't know yet, how the cheap car saga plays out. However - I think it has potential to impact on Turners (or their market) no matter what they do ...

on the opportunities side it might mean one competitor less to worry about (even if I am not sure whether they had the customers Turners would like to have).

on the risks side it might mean a firesale of a lot of "cheap cars" flooding the market during a market downturn.

Anyway - interesting times. Market consolidation always brings risks and opportunities, which is often good for the established and big players.

[Jonette]

on the risks side it might mean a firesale of a lot of "cheap cars" flooding the market during a market downturn.

Not many cars at all, Turners maintain a stock of over 3000 cars, NZAI only have 500 usually, but not at present, obviously the internal mess has stopped sales so they now have 700+ cars and growing.

[percy]

Not many cars at all, Turners maintain a stock of over 3000 cars, NZAI only have 500 usually, but not at present, obviously the internal mess has stopped sales so they now have 700+ cars and growing.

Wonder how many ASB own.?

[Jonette]

Turners have started advertising cars at their Nelson Branch, just 12 today, but I expect that to grow a lot.

https://www.trademe.co.nz/a/motors/c...user_region=13

[Louloubell]

Turners website says that Nelson will open in August. Yippee

[Jaa]

I had written off Turners subscription business as a nothing burger but the idea seems to be catching on.

The website and service is a bit bare bones (no car seats, snow chains, tow bars etc) but the staff are very efficient and friendly with a car salesperson's desire to sort out any issues over the phone. Not sure why they needed Carly.

Cars, especially electric cars don't stay available on the site for long. Apparently there is now 150 cars out on subscription, about $1.5m in yearly revenue.

Car dealership business Ebbet have launched a competing service Ebbet Subscribe for near-new cars at slightly higher price points albeit with much less monthly kms than Turners. They use Aussie platform Loopit which is designed for car subscriptions so I guess we can expect more such services. Nothing like competition to promote and validate an idea.