Eagers Automotive Limited (APE)
All research reports and stock updates for Eagers Automotive Limited.
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Research Reports
Playing possum
Eagers Automotive’s interim result turned out better than it had downwardly guided in May but in line with the July update. Demand is resilient despite the extended wait times for delivery.
Slow lane
Demand for new vehicles in Australia remains healthy, but a variety of factors have conspired to slow down the delivery of orders.
Capital Gain
The acquisition of WFM Motors, owned by APE major shareholder and Board member, Nick Politis, has neatly filled a geographic gap in APE’s national footprint. The acquisition is fairly priced, strategically positive and continues the company’s portfolio realignment.
Hilux or BYD?
Demand for new vehicles in Australia resumed its upward march in 2021, but customers have been forced to be patient as deliveries are stymied by global chip shortages.
Stars align for 2022
Tightness in the supply of new vehicles has caused a reality check for Eagers Automotive’s share price, but deliveries are simply being shunted into next year. Higher gross margins will still feature in APE’s results as the company continues its efficiency improvements. The fight between dealers and manufacturers on change to an agency model is gaining heat.