2CC - 2 Cheap Cars Group

[winner (n)]

Annual Report out

Anything new that hasn't been said before

It's only 80 pages odd ...should have put more pictures in.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/2CC/413832/397373.pdf

[winner (n)]

2CC Annual Report 82 pages ........Turners Annual Report 116 pages

Maybe a useful metric to assess the relative value of each company

[lorraina]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/2CC/413832/397373.pdf

[winner (n)]

Wow what a start to the new year ..going  very well ...just look at those margins

Love the bits about being 'being 'super focused' and 'ahead of the curve


http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/2CC/414313/398016.pdf

percy failing in his duty to keep this thread on first page ...had to go to page 4 to find it

[lorraina]

Plenty of buyers lined up,including myself,but the big seller appears to be on holiday.
I too loved the bits about being 'being 'super focused' and 'ahead of the curve.
Proving to be true..!!..
I sent the CEO a quick email :
Crickey..
Another cracker..

[winner (n)]

Plenty of buyers lined up,including myself,but the big seller appears to be on holiday.
I too loved the bits about being 'being 'super focused' and 'ahead of the curve.
Proving to be true..!!..
I sent the CEO a quick email :
Crickey..
Another cracker..

You and many others queuing up to buy ...big time?

Who'll blink first .....Eugene or you guys

Eugene might have 'guessed' a cracker update was due so just waited a while longer

[lorraina]

Two scenarios.
Eugene sees value holding onto his shares.
He may be in discussions with a buyer to sell all or most of his shares.
Currently the big buyers would only be bidding against themselves.
Currently sellers from 32 cents to 85 cents have 53,416 shares.
Buyers want 610,840.

[Basil]

Massive tailwinds in Q1 and Q2 that won't repeat.
CEO has basically no experience in the sector and is basing his forecast on trading conditions when strong tailwinds prevailed. Caution required.

[lorraina]

 EV/HEVS leadership is further strengthened moving to 52% of total sales for Q1 (up from 41% for FY23).
This is the sector of the market that is growing quickest.
2CC should retain their leadership in this sector for the foreseeable future..

[winner (n)]

Guidance says $5m npat ..... eps 11 cents ......with future growth going to happen

On PE of 10 share price $1.10

OMG

Another cracker

[BlackPeter]

Article in the herald: Financial advantage of E-cars likely to disappear in less than one year, their exemption from Road User Charges goes only to March 2024.

https://www.nzherald.co.nz/business/road-user-charges-shock-on-the-way-for-ev-owners-and-aa-sees-double-charging-danger/KKO77UDN4NC67NXWOLHH57BDP4/
(probably paywalled)

Might be an issue for a car dealer who mainly sells preloved old e-cars?

E car subsidy already gone, RUC payments likely to start in less than 9 months and the old battery problem of preloved e-cars hanging like the sword of Damocles over the buyer ...

I am wondering whether this might impact on the market for 2 cheap E-cars?

[Basil]

Thank you for bringing a dose of reality to this thread BP.

[lorraina]

Guidance says $5m npat ..... eps 11 cents ......with future growth going to happen

On PE of 10 share price $1.10

OMG

Another cracker

Market cap is currently $14.5 mil.
NPAT of $5 mil would see them upgrade current sites and expand their footprint.
Currently 12 sites.Room for another 3 to 6. [up to 50% footprint increase]
Business strategy/model simple and effective.
Online sales were 17%.Not sure where they are currently.
With their own staff buying in Japan 2CC can react straight away to market changes.

Hmmmmmmmmmm.I am having trouble buying more.
Appears NZX do not approve of my buying order via Craigs..?

[Rawz]

2CC risk to EVs is overstated on this thread.
They can pivot buying out of Japan back to the next flavor of the month quickly. It takes them 28 days to sell a car once on the lot

[Jay]

And with PHEV, potentially RUC and tax on petrol, how are "they" going to get around that - e.g. how many Km's done on electric  to work out the RUCs??