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

[Beagle]

Okay just to add some balance I will say that with the families tax package going through and increases in the minimum wage over the next few years this should feed through to more money in modest income families hands which should be good for Turners demographic in terms on assisting them into a low / mid value car. Increases in income should assist with debt servicing eligibility criteria too.

On the other hand we might see some softening in demand at the top / luxury end as business people remain cautious of the new political environment so this is probably not the optimum time to open a BMW dealership

[percy]

When "the workers" have their party in government, they are more inclined to spend,and take on debt.
One of the first things they want is a new second hand motor [on tick].
Turners are here to help them,car,finance and insurance,.
A case of being in the right sector at the right time.
Should interest rates increase, they will do even better.
I am "well positioned".!

[percy]

big end of town not buying more ....hmmm

Just added 847 to the wife's holding,and 3130 to mine.Both of us having the same even amount, makes things easier to work out.Also saves arguments as to who received the bigger divie.and who pays for our next holiday.Paid $3.14 xd.

[RTM]

Just added 847 to the wife's holding,and 3130 to mine.Both of us having the same even amount, makes things easier to work out.Also saves arguments as to who received the bigger divie.and who pays for our next holiday.Paid $3.14 xd.

Soooo....big end of town finally buying ?

[Beagle]

Pretty clear that the downtrend still continues as does the woeful lack of depth on the buying side. I think the directors have simply squeezed shareholders too hard and there's a fundamental lack of interest at present at throwing more money at this capital hungry business. Hard to see this breaking out of its malaise anytime soon.

[percy]

But as morning follows night it will,and I am "well positioned."
Exactly the same noise as HBL's SPP attracted a year or two ago.
And like HBL,TRA shareholders will reap the rewards................lol.

[Beagle]

But as morning follows night it will,and I am "well positioned."
Exactly the same noise as HBL's SPP attracted a year or two ago.
And like HBL,TRA shareholders will reap the rewards................lol.

No...Even I would have to concede the HBL noise was a bit more dogmatic lol

[percy]

No...Even I would have to concede the HBL noise was a bit more dogmatic lol

Exactly the same.
Share holders shafted.
Complaints,here on ST,complaints at HBL presentations and at their agm.Stupid people saying they will sell their shares,never again invest in HBL,will take their money out of HBL.
Yet like TRA, HBL raised the capital quickly and put it to great use.
TRA are not going to leave this extra capital sitting in a no interest deposit account.They have organic growth in a sector that is doing well,and plenty of opportunities for meaningful eps accretive acquisitions.

[RTM]

Exactly the same.
Share holders shafted.
Complaints,here on ST,complaints at HBL presentations and at their agm.Stupid people saying they will sell their shares,never again invest in HBL,will take their money out of HBL.
Yet like TRA, HBL raised the capital quickly and put it to great use.
TRA are not going to leave this extra capital sitting in a no interest deposit account.They have organic growth in a sector that is doing well,and plenty of opportunities for meaningful eps accretive acquisitions.

I hope you have it right Percy.
I am a little concerned that they are to concentrated in a particular area...that is used cars. I thought I was buying into a more diversified finance business. But it has changed since I first purchased, particularly with the purchase of Buy-Rite cars. Watching closely.
Disc. Hold bonds and shares.

[percy]

I hope you have it right Percy.
I am a little concerned that they are to concentrated in a particular area...that is used cars. I thought I was buying into a more diversified finance business. But it has changed since I first purchased, particularly with the purchase of Buy-Rite cars. Watching closely.
Disc. Hold bonds and shares.

They are a property developer,they auction cars, equipment,and written off vehicles.They import vehicles.They sell cars.They finance and insure cars,and equipment.Being able to clip the ticket the whole way through the supply chain.Moving the focus of the business from wholesale, to being in direct contact with the end user means greater margins. Some parts of the supply chain having greater margins than others,but each add on gives each transaction greater value and overall profit.
I have followed the car sales from 1967 when I worked in the industry.Very few hard years.Finance companies such as Finance and Discounts,Marac,Allied,and others have been very profitable.You must remember people will stop paying their mortgage, before they stop paying off their car.They need their car to get to work.No car,no work,no anything.
One great advantage TRA have over other finance companies is they can direct the car/equipment buyers, to their finance and insurance at point of sale.
Great business model that can be scaled up further,and will be.
Like HBL the directors are large shareholders.TRA are well capitalised with shareholders equity,bonds,bank lending,and securitization.