2254 GMT - ARB's bull at Ord Minnett looks beyond the latest snapshot of new car sales in Australia, which featured a faster decline in the 4x4 parts retailer's key vehicles. New vehicle sales rose by 0.4% in August compared to a year ago. The rise was underpinned by record sales of electric vehicles. Analyst James Casey notes that most models relevant to ARB stayed weak. Toyota HiLux sales were broadly flat, while Ford Ranger sales fell by 51%. "That said, supply of Toyota vehicles appears to be improving with exports to Oceania increasing, consistent with management's expectations of improved supply in 2H 2026," Ord Minnett says. It expects ARB's earnings to grow in FY27, helped by the improved supply, strong gross profit margins and continued offshore expansion.
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