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

[Ggcc]

Just to keep my (voluntary) disclosure up to date ...

It took me some time, but I managed by today to buy a M-sized parcel for a price I was prepared to pay.

Promise however to keep pointing out any risks I can see with the company - we certainly have already enough other cheer leaders on this thread.

Does this qualify me as supporter?

Nice one. I hope it lives up to your expectations. It certainly has done well for me over the last couple of years. Welcome on board

[Onemootpoint]

No, Tina from Turners didn’t die.

https://www.stuff.co.nz/entertainmen...ners-didnt-die

[toddhunter]

Just to keep my (voluntary) disclosure up to date ...

It took me some time, but I managed by today to buy a M-sized parcel for a price I was prepared to pay.

Promise however to keep pointing out any risks I can see with the company - we certainly have already enough other cheer leaders on this thread.

Does this qualify me as supporter?

I will take that as a win Black Peter!

[Louloubell]

Isn't it fully appropriate that Tina has some cheer leaders, doesn't that fit well with her image?

[777]

She should have got a Grand Dame gong today, ahead of the one that got it.

[Jonette]

NZAI recently changed their company name to 2 Cheap Cars. An extremely odd marketing move, emphasising cheap will not work well.

However they also just closed their Hawkes Bay yard, they may have been washed out but they no longer have a presence. It was performing badly for a long time before they closed, with only 30 cars on their lot at most. Interestingly their Wellington yard looks similar with only 20 cars on the poorly located lot (on a busy roundabout), reducing inventory over recent weeks.

Since the owners listed the company and sold shares, the share value has plummeted from $1.30 at launch just 2 years ago to now $0.27. And they appear to be exiting the market.

Glad I could see that coming!

[percy]

NZAI recently changed their company name to 2 Cheap Cars. An extremely odd marketing move, emphasising cheap will not work well.

However they also just closed their Hawkes Bay yard, they may have been washed out but they no longer have a presence. It was performing badly for a long time before they closed, with only 30 cars on their lot at most. Interestingly their Wellington yard looks similar with only 20 cars on the poorly located lot (on a busy roundabout), reducing inventory over recent weeks.

Since the owners listed the company and sold shares, the share value has plummeted from $1.30 at launch just 2 years ago to now $0.27. And they appear to be exiting the market.

Glad I could see that coming!

I can not comment on Hawks Bay or Wellington,however ChCh branch had 70 cars on their site and sell approx 50 a month.Yes 8.57 stock turns.
Their balance sheet is strong with an equity ratio of 55.07%,an excellent cash flow from operations..Intersting to note 41% of their sales are electric or hybrid.
Happening on 26th June NZA to new ticker 2CC.
Makes sense .
"This change marks a new beginning. A reset was needed and that is what has happened. It's now about accelerating performance to new heights. The new board and CEO are well established now and working exceptionally well together. We've made tremendous progress in the recent months with the appointment of new Auditor UHY Haines Norton Sydney, successfully changed over trade finance providers to strengthen our access to funds. There is almost an entirely new leadership team in place and their progress on results over the last quarter in particularly is a great start. We've done a reset, the past is past and we want to be judged on our performance from this point forward," Stiassny says.

[winner69]

Deleted ….Bubbah is one nice person

[Sideshow Bob]

Annual Report

http://nzx-prod-s7fsd7f98s.s3-websit...843/397411.pdf

[Rawz]

Found TRA on page 3. Not much going on.

Just realized im heavily exposed to NZs used car market. Between TRA and 2CC it makes up 40% of my portfolio. Suppose used cars is just as good as any place to hide in a recession..