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

[Rawz]

CFO, Aaron Saunders, bought another $100k worth of share. Now holds $351k worth of shares

Nice support shown

https://www.nzx.com/announcements/403007

[Rawz]

I know this has been mentioned before but thought it was a good reminder for the thread.. the registration costs for a used import has gone from $200 to $2500 and it is killing the used car dealerships. I was talking to one yesterday and the owner was ripping into the government lamenting how much it was hurting his business.

All good for TRA who of course source most of their vehicles from within NZ. From leasing companies, private companies, repossessions, personal etc etc

This is why TRA auto business recently reported growth of 13% in a shrinking market. I expect this market share growth to continue

[ronaldson]

And Alaistair Petrie (Director) purchased another 200k shares off-market on 1 December via his company Bartel Holdings Limited, at $3.50 and cum the 5cps imputed dividend. This will have been during the window available for insiders to do that after release of the half year results, so Rawz is absolutely correct that the internal support shown here is good.

This is yet another company discussed at the Sharetrader get together at Oyster and Chop on Sunday. Not many buyers around presently so I am trying to steal some on-market just now via my own company.

[Snoopy]

And Alaistair Petrie (Director) purchased another 200k shares off-market on 1 December via his company Bartel Holdings Limited,...

I believe that Alaistair Petrie is the merely the NZ representative of the Ecuadorian Alvaro Noboa family, the people behind Bonita bananas. If you look at the biography of Alvaro Noboa.

https://www.alvaronoboa.com/en/biography/

it still says he has interests in New Zealand. Bartel Holdings was a significant shareholder in the old 'Turners Auctions' company, which when taken over by Dorchester, became the Turners business we know today. I know some of the public shareholding information says that Alaistair Petrie is the 100% shareholder of Bartel.

https://app.companiesoffice.govt.nz/.../shareholdings

But I think that is only in the sense that Petrie is the local nominee of the Alvaro Noboa family. Petrie took over this job from Michael Dossor who died in 2016. I don't recall any information on the Ecuadorians selling out since then. And being a shareholder from the Turners Auction days, I think I would remember if it had happened.

SNOOPY

[Rawz]

That's right Snoopy, that shareholder could be a trust and if Alistair is sole trustee of the trust it shows correct in the companies register.

[blackie]

I know this has been mentioned before but thought it was a good reminder for the thread.. the registration costs for a used import has gone from $200 to $2500 and it is killing the used car dealerships. I was talking to one yesterday and the owner was ripping into the government lamenting how much it was hurting his business.

All good for TRA who of course source most of their vehicles from within NZ. From leasing companies, private companies, repossessions, personal etc etc

This is why TRA auto business recently reported growth of 13% in a shrinking market. I expect this market share growth to continue

absolutely agree.
i service a compliance center in dunedin that gives freshly imported 2nd hand cars the once over before they are distributed out to various car yards.

usually their yard and driveway are packed to the gunnels with new imports.

but 4 x weeks ago it was so empty i asked the boss if he was closing down.

he said that with the new taxes the imports have practically stopped overnight and he said he knew of several 2nd hand car yards that have decided to shut shop on the back of this.

[Baa_Baa]

absolutely agree.
i service a compliance center in dunedin that gives freshly imported 2nd hand cars the once over before they are distributed out to various car yards.

usually their yard and driveway are packed to the gunnels with new imports.

but 4 x weeks ago it was so empty i asked the boss if he was closing down.

he said that with the new taxes the imports have practically stopped overnight and he said he knew of several 2nd hand car yards that have decided to shut shop on the back of this.

The government has already implemented the 'clean car discount' which lands squarely on the buyer. The importer/seller levy's the buyer of a car (used or new) a tax if it's 'dirty' (ICE) or a credit' if it's 'cleaner' (EV, PHEV etc).

They're also about to implement the 'clean car standard' which directly (they assume) hits the importers of used and new lightweight vehicles, <3000kg, except motorcycles which they very recently exempted with an amendment to the legislation and an extension to the time to fully implement out to June 2023.

These debits and credits are still a work in progress as it relates to the CO2 emissions calculations per vehicle, of which the MOT are currently the source of truth, and the calculator, albeit pretty vague and wobbly because their source data is also vague and wobbly. Basically it relies on the vehicle industry to supply valid vehicle emissions data. Good luck with that when you consider how many of them have gamed the emissions calculations and are now in legal suits.

But it's only less than a month away before it's partially implemented on 1 Jan 2023 (legislation said so), then the credits and debits start accruing. Importers can pay the 'deficit' as they go or accrue and pay/credit later, which will probably be around June 2023.

Importers will gain credits for clean cars and debits (penalties) for dirty cars that they import. Do you think they'll pass these onto the buyer? Of course they will for debits, but yeah right for credits.

But that will change buyer behaviours which is exactly what the government want with this social engineering policy and legislation, to convert importers and buyers to 'clean' vehicles (credits or discounts) from 'dirty vehicles (debits and penalties).

On the face of it, despite whatever well intended ambitious policy is behind it, this is free-market manipulation and blatant social engineering, and society will decide whether it is sustainable at next election.

[RTM]

absolutely agree.
i service a compliance center in dunedin that gives freshly imported 2nd hand cars the once over before they are distributed out to various car yards.

usually their yard and driveway are packed to the gunnels with new imports.

but 4 x weeks ago it was so empty i asked the boss if he was closing down.

he said that with the new taxes the imports have practically stopped overnight and he said he knew of several 2nd hand car yards that have decided to shut shop on the back of this.

Wonder what effect this will have on Ports of Auckland ? Already a drag on ratepayers, I guess this makes them even less profitable.

[Ricky-bobby]

Are we going back in time? Tax on imports, next import licences! Cuba here we come. Agree, more great news for TRA holders!

[BlackPeter]

Are we going back in time? Tax on imports, next import licences! Cuba here we come. Agree, more great news for TRA holders!

Only if NZ starts to build their own new cars ...