2CC - 2 Cheap Cars Group

[lorraina]

Well I am like you.
When looking for a CHEAP car as my granddaughter's first car, I went to Turners,Value Cars,2 Cheap and a couple of others.
Ended up buying her an old Toyota from Doug Drake Motors.A great small car for $4,000.
Crikey the AMI insurance bill was over $800..

[Sideshow Bob]

I do find it an interesting gig for Michael Stiassny. NZA, even by NZX standards is a minnow. Market cap of $12.8m.

Add to that directorship of New Talisman (enough said).

Especially given his previous NZX listed directorships.

Maybe just trying to lessen any receivership work he gets with these two.....

[winner (n)]

Stiassny done a great job at Tower over the years

Only 'mistake' he's made is saying if anybody wants to take Tower over they'd need to front up with $1.40

[BlackPeter]

Well I am like you.
When looking for a CHEAP car as my granddaughter's first car, I went to Turners,Value Cars,2 Cheap and a couple of others.
Ended up buying her an old Toyota from Doug Drake Motors.A great small car for $4,000.
Crikey the AMI insurance bill was over $800..

Hmm - I wasn't looking for a cheap car, but for an economical and safe SUV ... and I found it at the local Kia dealer.

But anyway ...

[lorraina]

A friend is on her second Kia.
Loves them.

ps.My 2004 Nissan is still serving me well. .lol.

[Basil]

Hmm - I wasn't looking for a cheap car, but for an economical and safe SUV ... and I found it at the local Kia dealer.
But anyway ...

We're not the only ones that think they are a really fabulous bit of kit.  Every year "Drive" do their very comprehensive evaluation to determine which is the vehicle of the year. https://www.drive.com.au/drive-car-of-the-year/2022/car-of-the-year-2022/
A little known fact is that down under we get a special local suspension tune for the Sportage which makes a world of difference with the handling.  I've driven a fair few medium sized SUV's over the years and they all get soft and squishy with lots of body roll in the tight corners.  The Sportage handles like a dream and the diesel engine has tons of grunt.  Mrs Beagle loves it so much she hides the keys lol.

You can't find vehicles like that at 2 Cheap cars eh 

[lorraina]

https://www.nzx.com/announcements/413216
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.


Good volume so far today ;418,285 VWAP .279cents.
Ended the day with 526,285 traded VWAP .279 cents.

[KW]

https://www.nzx.com/announcements/413216
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.


Good volume so far today ;418,285 VWAP .279cents.
Ended the day with 526,285 traded VWAP .279 cents.

Not so sure I'm a fan of the name change.  NZ Automotive at least sounds like a professional company, 2 Cheap Cars sounds like a scammy penny stock.  It could at least pretend on the NZX it wasnt a dodgy used car dealer LOL

[lorraina]

Well it is a strong band already.
As Suzanne Paul would say "And it really works."...lol

[Stoploss]

Hmm - I wasn't looking for a cheap car, but for an economical and safe SUV ... and I found it at the local Kia dealer.

But anyway ...

Went halves with my daughter on a Kia Stonic 2 years ago . Pretty impressive spec for the money . I use it around town etc while she is at work . A little bit lighter on the pocket than the Audi ....

[Basil]

https://www.nzx.com/announcements/413216
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.


Good volume so far today ;418,285 VWAP .279cents.
Ended the day with 526,285 traded VWAP .279 cents.

Just as well they are not asking us to judge them on their ability to issue a news item with proper spelling and Grammar.

[lorraina]

Correct.
Shareholders and the market will judge them on their ability to source good cars in Japan, and to market them profitably in NZ.

[lorraina]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZA/413350/396821.pdf
Pleasing seeing CEO Paul Millward buying on market.

[Breezy]

A friend is on her second Kia.
Loves them.

ps.My 2004 Nissan is still serving me well. .lol.

So is my 1994 Suzuki, it always passes its 6 monthly warrant no probs,  wife reckons she will just cremate me in it when I go. She has 2 Nissan Lafesta's with a combined value of about 8k so all up our 3 cars only worth 10k, pretty good value aye.

[lorraina]

Ticker code change and name change 0n 26th June.
2CC.2 Cheap Cars Group ltd.

https://www.nzx.com/companies/2CC