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Dealers make most of their money on used and after sales. They have all reduced fleet business and discounts to retail customers so they are in fact making more money on lower volumes of new vehicles.
Not sure what to make of it. If we are selling lots of used cars fine but if profits rely on new cars and production is hit wonder what impact it will have?
Evening all
Just bought back into my favourite trading share again today, paying 18.85p p/s excl comms & SD.
Only very modest sum (around £2K), as don't have much, and part of my SIPP.
This used to trade realiably bw low 20s and high 20s before Covid struck.
With so much money sloshing around I hope many will be buying PDG's cars. I am expecting a slimmer buisness that does more online/internet sales rather than the old fashioned dealership sales. Many employees no longer work (unfortunately) so cost base should be lower. The SP was around 40p about 4 yrs ago and unlikley to get back to that level for a long time, but my plan is to make about about 10% which needs a little under 2p rise from here.
Never confident, and often see SP fall soon after I buy, but so far managed to make a little profit of bw 5% and 10% on each occasion (4 times) over last 12 months, with a couple of better trades back in 2018. So fingers crossed for another ride on the PDG roller-coaster.
Cheers & GLA - CSDI
Broker target from last week is 25.00.
19.85 ask, would be good to see this back over 20.00.
Thanks for your reply Skier, I’ve opted for PDG and will keep an eye on LOOK.
Oz, like them both.
PDG and LOOK are both transitioning to *online-first* car sales. That is where the future growth sits. Both firms understand the modern world is about becoming the "Amazon of cars". Browse, click, finance, buy, collect, deliver, aftersales, OTA updates, rebuy, repeat.
Good news let's hope someone is listening!
https://www.motortrader.com/motor-trader-news/automotive-news/pendragon-turnaround-continues-q1-10-8m-profits-21-04-2021?eea=ZklYZ0dEZ1RSK2M0dHRvMkV2Sm5DbXZ5ZnQrZDF5ODJ4cGJNM2NSMy9IRT0=&n_hash=1461&utm_source=e-shot&utm_medium=email&utm_campaign=MT-043-(Edi)MTDailyNewsV2-%231461
Skier, you seem very knowledgeable about both LOOK and PDG, which one is the better investment in your opinion?
Up she goes.
In line with lookers with car sales down 10 percent on last year. Remember dealerships were open for nearly all three months last year, what a result
Couldn’t agree more chaps just a matter of time. I’ve been trying to find ipo date for Cazoo, any ideas?
It will get busier here as the giant £5 billion *Cazoo* float approaches in a few weeks.
PDG is readying for a relaunch of Carstore.com and its *digital transformation* from Arthur Daley to tech unicorn.
PDG has superb online assets (much better than you think) and is ripe for *takeover* or merger with Lookers, Cazoo, Carzam, Driverama, Carvana, and perhaps even Amazon.
The new wave of online car-retailer unicorns has only just begun.
Where is everybody, I feel like I’m talking to myself here.
10 x more buys v sells, sea of blue, might add a few more here.
£17k buy just gone through.
Looks like some very strong buying here today.
https://www.fool.co.uk/investing/2021/04/18/uk-shares-to-buy-now-how-id-invest-1k-today/
If I was Cazoo, Cynch or one of the other online companies (inc Autotrader which will come under attack) id quickly buy up Lookers or Pendragon. If Look or PDG are compared to or valued anything close to these online companies then we will be laughing.
All good points Skier. I see you’re on Lookers too. Both great companies and still got a long way to go. It’s fairly quiet on both boards so must be institutional investors buying up which is great
Yup. The tech wave that has swept car manufacturers in 2020 (like Tesla) is now sweeping car retailers in 2021 (like Cazoo).
PDG and LOOK have quietly executed a tech revolution in Covid lockdown. Slashed costs, click and deliver, simul-finance, Carstore.com, Click And Drive, etc.
The market is finally waking up, post-Covid , to that "online transformation".
Think Deliveroo, only bigger.
Long overdue and only just started. When Cazoo, Cinch etc start preparing their valuations for listings and car sales pick up as UK cash deposits are unleashed with pent up demand for cars we definitely have multi baggers at Lookers and here with Pendragon
Up +14% now. Rerate underway.
Market is finally waking up to PDG potential. PDG is bigger online than Cazoo (LOOK is also bigger). A tech unicorn.