Our drive to create a better business encompasses not only delivering returns to our shareholders, but also supporting our people, our communities and our environment.
As New Zealand’s leading used car business, we recognise the role we can play to help transition New Zealand’s fleet. EV and Hybrid sales are growing as a percentage of total cars sold in Turners. As more corporate and government fleets transition, we will see these numbers grow further. Turners’ sustainability strategy is underpinned by two key pillars:
Enhancing the well-being of our staff and the communities in which we operate.
Supporting and accelerating the transition of the New Zealand light vehicle fleet to a cleaner, lower emission future.
We have continued to invest in Turners Subscription and, in partnership with EECA, we have expanded our subscription EV fleet. This allows customers to ‘try before you buy’, as well as providing an alternative form of vehicle ownership. We currently have more than 100 vehicles on subscription of which over 40% are EVs or Hybrids. Unfortunately, used EVs continue to be difficult to source. Japan is the major source of used vehicles for NZ and there are only 303,000 EVs in the Japanese vehicle fleet out of a total of 78 million cars. New EV sales in Japan in 2021 were 20,000 against new car sales of 4.4 million.
We believe that it is a long term journey to transition New Zealand’s fleet and an integral part of this is to support people moving from older, high emission vehicles to newer, lower emission vehicles. We work with vehicle vendors, including insurance companies, to ensure that end of life vehicles are responsibly managed out of the New Zealand fleet.
In FY22, Turners de-registered over 17,000 old or damaged vehicles, which were then on-sold to wreckers and recyclers. A large portion of a car can be recycled, helping create a circulate economy.
Overtime, as second hand EVs become more affordable and accessible, we will see more people switching to these vehicles. In the meantime, sourcing lower emission vehicles, particularly hybrids, to replace older vehicles continues to be a key focus for Turners. We also expect other alternative fuel vehicles, such as hydrogen, to become more prevalent over time and will continue to monitor international and market trends in this area.
EV/Hybrid Sales as % of Total Sales
EVs and Subscription (ESG #1)
Turners have a role to play to help the NZ fleet transition, in partnership with EECA we have expanded our EV fleet.
We currently have 100 vehicles on subscription of which 44 are EVs or Hybrids. There is high demand for these subscription cars…and helps with “try before you buy”
Used EVs continue to be difficult to source…Japan is the major source of used vehicles for NZ. There are 303k EVs in vehicle fleet out of a total of 78m cars. New EV sales in 2021 were 20k against new car sales of 4.4m
Older low range EVs have a good fit in the subscription business
EV and Hybrid sales are growing as a % of total cars sold in Turners, and as more corporate and government fleets transition we will see these numbers grow further.
Formalised Turners’ sustainability committee
Appointed sustainability champions in each business
Identified key sustainability pillars
Initiatives undertaken to support Turners’ long term sustainability pillars
Confirm approach to Climate Related Disclosures and develop reporting framework
Identify climate related risks and opportunities for Turners
Define Scope 1 and 2 measures
Commence measuring Scope 1 emissions
Implement external assurance process
Establish KPIs for emissions and other material issues
Increase disclosure and reporting
Commence measuring Scope 2 emissions
Integrate management of climate related risks and opportunities into risk framework
Continue to develop disclosure and reporting
Keep updated with key announcements, events and reports