TRA - Turners Automotive Group

[777]

I'll be voting for Chloe, I won't be voting either of the chris clowns or the 81 year old racist or the racist pedo protector wingnut. 

So you'll vote for a personality and not for a Government. Sadly many think like you. So you get your Chloe along with all the dimwits with her. What job will the Mexican get? And you will get one of the Chris's any way.

I thought you would have more sense than that.

[Basil]

The last time we had a silly little socialist schoolgirl in charge our national debt doubled. Remember $2 Billion for mental health and only 7 new beds were created ?  Let's all "be kind" just like Cindy said. What could possibly go wrong.... A LOT ! Chole the Clown is a dangerous communist posing as a caring socialist.

Anyway back to Turners. I think its sound long term buying around here but my friend Winner is doing his best on the other channel to try and talk it down to $5 so he can back up the truck.

[Otago K]

T..............

Anyway back to Turners. I think its sound long term buying around here but my friend Winner is doing his best on the other channel to try and talk it down to $5 so he can back up the truck.

Perhaps I'm in agreement with you both here, can't dispute the fundamentals that you are using, nor the TA indications perhaps behind Winner thought if I'm correct to his thinking.
Perhaps I'm contemplating that the ute should be checked over in case I'm wanting to take a stake in the coming months, still hold the 2CC cash payout plus a bit more.

[HAWKDOG]

Haven't looked at winners TA on the other channel - my simple chart is attached.   Its broken down through the 50 day ma support line heading to the 200 day support- I would look to buy around the 200ma on the weekly chart or high 5's - but I am no TA expert.  Will go look at Winner's charting after I post this.
No argument that its a great run company - but the stock price does what the stock price does.

[lorraina]

Although I think TRA is an extremely well run business,I am not recycling any of my 2CC funds into them at present.
Perhaps when the downtrend turns up.
There are a few issues facing the sector,including higher interest rates,mechanical insurance in the spot light, and possibly more Clean Car regulations,together with the huge number of new Chinese electric cars being sold.
At this stage I do not like what I read about Electric cars,expensive insurance,excessive tyre wear and concerns over crash and general service being hindered by lack and delays with parts,together with a lack of electric servicing personal..
MY 2004 Nissan Sylphy went straight though a WOF last month and after its regular service is running well.
Should it break down at Arthurs Pass or any where on The West Coast any local mechanic can fix it.

[Basil]

A few thoughts.
Parts:- Nissan are a well established brand that's been in N.Z. for over 60 years but you may find after their very recent restructure and parts outsourcing, that you can't get parts for a car that old even if you can eventually find a mechanic in a remote place. prepared to come to your car and try and help you. 
Risk of breakdown in a remote place with all the associated drama's with that: Much higher in a very old car.
Risk of injury to occupants in a crash- A LOT higher with a very old car that doesn't have all the modern safety systems
Ease of ingress and egress - Much easier with a modern SUV
Quality of driving experience with a decent modern vehicle: Chalk and Cheese compared to your old banger.

For what its worth, in my opinion their latest Nissan X Trail E-Power hybrid is a very good vehicle...well within your means and if you crash it, which is more likely as you age, you'll be far better protected by its safety systems than you current car..  It also probably uses about half the fuel your vehicle does and has a 10 year warranty.  Parts are readily available because its a current model car.    Live a little mate, you've pot plenty. 

Most of Turners vehicles are under $20K, most Chinese EV's are over $40K...My thinking is you're making too much of the substitution risk.

In terms of interest rates and their NIM, you're right that in a rising interest rate environment the tailwinds they have enjoyed to their NIM could potentially turn into headwinds but from memory Turners repriced their loans more than a dozed times in the last interest rate upcycle and I think they will manage the risk very well.

Mechanical breakdown insurance noise from the looney left is just that...noise.  Future changes to clean car regulations...anyone's guess.

[lorraina]

As an owner of a 2004 Nissan Sylphy I notice other drivers driving them
There are a great number still on the road, in Christchurch and around the South Island.All seem to be in very good order.
Parts are available from the huge number of local car wreakers should Nissan be out of stock.Every reasonable sized town/city has wreaking yards..
The Nissan Bluebird Sylphy engine is used in a number of other Nissan models.Only part I have had to order from Nissan was a drivers side sun visor.

[Basil]

A wealthy client commented many years ago to me.  "If you don't fly business class you can be sure your kids will".  This is what he was getting at.
https://www.kinghornlaw.com/law/if-you-dont-fly-first-class-your-children-will/

[BlackPeter]

With all due respect to the author we've had ultra cheap Chinese made ICE cars for quite some time at really low prices as little as $19,990 drive away with a 10 year warranty, see  this link https://www.trademe.co.nz/a/motors/cars/mg/mg3/listing/4561195520 so I hardly think a $32,000 drive away pricing on a very small short range Chinese EV, (less than 200km in the real world) is going to make one iota of difference.  EV's are not free to run, you have to pay to charge them up and then there's road user charges as well so I'm not sure if people would ever recover the $12,000 price difference.  Aside from that, who wants ongoing range anxiety with less than 200 km real world EV range !  Medium sized EV's with decent range are a hell of a lot more than $32,000 !    e.g. https://www.bydauto.co.nz/vehicles/atto-3-evo  $60,000 for the base model of a pretty small / medium sized EV.

Maybe a bit thick.

We just bought a MG4 EV Urban ($40k and 400 km range) - and if I refill it at home, we pay $3 in power for every 100km driven. Our older Ford Fiesta Diesel took something like 5 liter per 100km, i.e. something like $17.50 per 100km.

Both cars pay RUC.

So - pricesavings currently $14.50 per 100km. Ah yes, and the MG4 offers more space, a larger boot and all the electronic features you could dream of.

Obviously - sure, if US loses their running looser and price driver, diesel might go down again, but who knows? He has another 2.25 years and another endless January 6th to keep his power forever. Too many Americans are dumbed.

Assuming nothing changes - we save with 15ooo km per year $2175 just for buying an EV.

Not sure, what a new Fiesta Diesel would cost these days and whether they have similar features, but lets put it on $30k? - this means we get the cost for the EV in 4 years back and this is not even taking the 10 years warrenty and the three years free service inspections into account.

Actually - I think it makes a lot of sense these days to buy an electric car ... and they don't have to be dear. Its just that Americans and European carmakers have been too dumb to build good and sensible priced EV's.

Its so amazing to drive with an EV past the petrol stations and actually enjoy the prices.

Obviously - a bit too early to comment on quality and longevity of the MG4, but so far it looks like SAIC learned a lot from producing VW cars for many years - and with a bit of luck I will need less replacement parts than with our old VW (prior to the Ford) and they will be cheaper as well.

But hey, I didn't wanted to turn this into a EV thread, but I just found that some of the comments which might have been valid 10 years ago, don't agree anymore with reality.

[Shareguy]

I'm in Korea at the moment and enjoying the busy roads being fume free as electric vehicles are well established. Lots of charging stations here with Hyundai and Kia the dominant brands with the Chinese brands very popular as well.

Going to look at going full EV for wife's next car. The range issues have largely been sorted with better batteries and they have plenty of power.

[Nizzy]

A move towards electrification generally, not just cars, is happening at pace in many places around the world. Just look across the ditch for starters. NZ has been really slow off the mark for some reason (it puzzles me the negativity & lack of support from the current govt, such a disappointing lot) but its starting to move now.   

[Basil]

I test drove a Zeeker 7X back in March, but the full spec version was $95K.  I do agree that some Chinese made vehicles have made huge strides in quality in recent years but this was never a EV v ICE debate.  It was Lorriana suggesting that new EV's would substitute for Turners used cars which predominantly have a price point south of $20K.

Is there really any genuine suggestion that say an MG4 Urban at $40K, (probably  one of the cheapest non micro EV cars out there) is going to be a substitute for an average Turners car at say $15K ?  You can't be serious ?

I think those are two very different price points for two very different consumers but quite apart from that, no matter what is being sold new now and at what price, it will be resold in due course at a margin by Turners or some other used car dealer.  I don't think their business model wobbles just because there's a gradual, (glacial until quite recently when fuel increased dramatically), change in the nature of the motive power for the vehicles.  That's a point Todd himself has made so its not just my opinion.

[HAWKDOG]

The sale of evs ws going pretty good until this govt killed the clean car discount - which in hindsight with the iran war was a mistake - they then further killed it by changing the petrol tax and rucs.  Why you wouldn't want less toxic fumes in downtown Auckland from ICE cars is beyond me, but not a surprise as this govt doesn't give a rats ass about clean air or clean water.

Buyers in the 15k car market are likely feeling cash strapped due to the cost of living crisis, rising interest rates, and the price of fuel so are not running out and purchasing new vehicles - whereas those with a bigger budget may be looking at EVs.  Likely to be a transition period where it changes from a lack of used evs to plenty.