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

[ronaldson]

Judging by some of the video/photos there could be an increase in used car sales between now and end February, especially in Auckland, as folk replace flood damaged write offs. Most people who had a vehicle in that circumstance will feel they need to continue to own one, and any insurance payout will be reinvested in a replacement fairly promptly.

But Auckland private market buyers in particular will need to be vigilant for a year or two to be sure they are not getting a lemon resulting from this event.

[percy]

Judging by some of the video/photos there could be an increase in used car sales between now and end February, especially in Auckland, as folk replace flood damaged write offs. Most people who had a vehicle in that circumstance will feel they need to continue to own one, and any insurance payout will be reinvested in a replacement fairly promptly.

But Auckland private market buyers in particular will need to be vigilant for a year or two to be sure they are not getting a lemon resulting from this event.

I expect a lot of the water damaged cars will turn up through out the country.
Turners staff should be able to spot them.
Damp [carpet ] smell in car or boot usually gives them away.

[winner69]

Apparently most cars that get half or more submerged are writeoffs …..water and air bag mechanisms don’t mix ,,,,,,and then issues with brakes/gear boxes.

Lots on replacement cars need methinks

Disc. I know v were little about the mechanics of cars.

[percy]

Apparently most cars that get half or more submerged are writeoffs …..water and air bag mechanisms don’t mix ,,,,,,and then issues with brakes/gear boxes.

Lots on replacement cars need methinks

Disc. I know v were little about the mechanics of cars.

For you winner69
https://www.youtube.com/watch?v=F0KMlSxURJk

[Sideshow Bob]

Apparently most cars that get half or more submerged are writeoffs …..water and air bag mechanisms don’t mix ,,,,,,and then issues with brakes/gear boxes.

Lots on replacement cars need methinks

Disc. I know v were little about the mechanics of cars.

I think the big problems will be all the electronics/electrics, especially on the newer cars.

Cars aren't really designed to swim.....

Will be a number of punters with a cheque from their insurance company looking for a replacement car.

[Azza]

I think the big problems will be all the electronics/electrics, especially on the newer cars.

Cars aren't really designed to swim.....

Will be a number of punters with a cheque from their insurance company looking for a replacement car.

Yes definitely issues with electronics, car manufacturers love using wasted space under seats and in the bottom of the boot for things like the srs (airbag/ safety restraint system) computers or the body control modules, as soon as these have water inside for a few days they will chose to let the smoke out which is hard to place back. This will create a surge in the used market around the north island as it did with the Napier floods a couple of years ago.

[ronaldson]

The market announcement by NZA (2 Cheap Cars) today is worth a read, and some reflection in context given the similarities with TRA.

My interpretation is that the used car market in NZ is now gradually consolidating away from the numerous small ad hoc dealerships that have thrived in the past as a result of ease of entry to the industry, and that the future will see continued incremental gains for the larger mature cross-country and more diversified businesses that TRA and NZA represent. This will take time but current evidence is that transition is underway and the NZX listing of these two entities will only serve to make this more transparent via their reporting obligations.

[BlackPeter]

The market announcement by NZA (2 Cheap Cars) today is worth a read, and some reflection in context given the similarities with TRA.

My interpretation is that the used car market in NZ is now gradually consolidating away from the numerous small ad hoc dealerships that have thrived in the past as a result of ease of entry to the industry, and that the future will see continued incremental gains for the larger mature cross-country and more diversified businesses that TRA and NZA represent. This will take time but current evidence is that transition is underway and the NZX listing of these two entities will only serve to make this more transparent via their reporting obligations.

Well possible. However - just looking at the share price trend ... it still might be a bit early to bank on the benefits of this development.

Discl: watching;

[percy]

Well possible. However - just looking at the share price trend ... it still might be a bit early to bank on the benefits of this development.

Discl: watching;

Still a couple of red flags that need to be sorted at NZA.
v Seeking to secure replacement finance facilities for retail trade, post 30 April 2023 and NZ Motor
Finance, after 1 October 2023
 Finalising the appointment of new auditors

[Sideshow Bob]

Still a couple of red flags that need to be sorted at NZA.
v Seeking to secure replacement finance facilities for retail trade, post 30 April 2023 and NZ Motor
Finance, after 1 October 2023
 Finalising the appointment of new auditors

interesting they say "replacement" rather than "renewal" of finance facilities....

Isn't finance one of the more profitable areas for TRA??