Turners Automotive Group — one of New Zealand’s major automotive retail, finance and insurance companies listed on the NZX — is forecasting a record full‑year profit of about $63 million before tax and goodwill adjustments, $3 million higher than previously expected.
Alongside this strong outlook, the company confirmed a $7 million to $9 million goodwill writedown for its smallest division, credit management agency EC Credit, in a review signalled at its half‑year results announcement.
Turners’ chief executive, Todd Hunter, said the underlying performance of the business has been strong, noting “very strong vehicle sales volumes through December, January and February,” with margins improving compared with earlier in 2025.
He also highlighted “very strong lending activity in our finance company, so number of new lending records and very strong origination.”
Hunter acknowledged that economic conditions remain mixed, describing the recovery as “a bit of a two-paced economy,” with strength in the South Island but parts of regional New Zealand and some main centres of the North Island still facing harder conditions. He said improvements are present; “They’re just not as substantial.”
On consumer behaviour in light of the conflict in the Middle East, Hunter said Turners has observed a “strong increase in interest in EVs and hybrid vehicles over the last sort of couple of weeks,” along with more people selling larger engine vehicles. He added that in his experience “people tend to overreact on that short‑term basis, and then things will level out.”
Hunter also noted that the used car segment has proved “more needs‑based and resilient,” tending to “just kind of bubble along, regardless of what happens,” with only “some ups and downs and some minor changes,” but largely maintaining momentum.