Turners Automotive Group Ltd
7.35
NZD
-0.14
(-1.87%)
ISIN
NZVNLE0001S1
Return %
Stock
S&P 500
1Y
-0.27
14.20
3Y
72.94
81.12
5Y
67.05
68.34
Capital Structure
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in mil. unless spec.Semi-annual Revenue
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in mil. unless spec.Company Description
- CEO
- Todd William Hunter
- Full Time Employees
- 578
- Sector
- Finance
- Industry
- Finance/Rental/Leasing
- Address
- 70 Shortland Street Auckland AUK New Zealand 1140
- IPO Date
- Oct 15, 2003
- Website
- turnersautogroup.co.nz
- Similar Companies
- Business
- Turners Automotive Group Limited is a New Zealand-based integrated automotive financial services company primarily engaged in automotive retail, finance, insurance, and debt management businesses across New Zealand and Australia. The company operates through three core divisions: Automotive Retail; Finance and Insurance; and Debt Management Services. In Automotive Retail, Turners is the largest retailer of second-hand vehicles in New Zealand, dealing in cars, trucks, machinery, motorcycles, boats, and caravans. The Finance and Insurance division offers various loan and insurance products tailored to vehicle buyers, including personal and motor vehicle loans. The Debt Management division provides credit collection services for businesses in both New Zealand and Australia through its EC Credit Control business. Turners Automotive Group was established in 2014 following a merger between Turners Auctions and Dorchester Pacific, which specialized in consumer insurance and finance services. The company is headquartered in Auckland, New Zealand, and has expanded its geographical footprint primarily within New Zealand, with growing operations in Australia. Its strong presence in automotive retail is supported by about 30 branches nationwide. Recent major developments include Turners' strategic investment in September 2024, acquiring a 50% stake in My Auto Shop, a vehicle repair and maintenance platform with over 300 MTA-approved repairers and mobile services, which expanded Turners’ service offering into after-sales vehicle repairs and servicing. It also invested in Quashed, an online insurance platform designed to help consumers manage insurance across multiple categories. In early 2024, the company opened a new dealership in Timaru, further strengthening its retail network. Additionally, Turners was added to the S&P NZX 50 and MidCap Index in December 2023, marking a significant milestone in its corporate profile. Turners Automotive Group targets a diverse customer base including individual vehicle buyers and sellers, commercial clients, and businesses seeking finance, insurance, and debt collection services. Its integrated business model spans multiple facets of the automotive sector, from retail vehicle sales to financial products and post-sale vehicle care services, underpinned by a strategy focused on growth and digital innovation. The company continues to focus on growing its profit and market presence with a goal of achieving $65 million in profit before tax by fiscal year 2028, reflecting a decade of sustained growth and strategic diversification in its automotive and financial services offerings. Turners employs over 700 staff and remains a dominant player in New Zealand's automotive retail and financial services markets.