CONTENTS CONTENTS FEBRUARY 2023 DECEMBER 2023
David Fraser Group CEO
CEO’s message
The end of any year is a natural time for reflection. It’s an opportunity to stop and think about what went right, what went wrong, and what you might do differently next year. As 2023 comes to an end, I’ve been reflecting on a year of achievements for Capricorn. Next year marks 50 years since 17 Golden Fleece service station operators, unhappy with the status quo, got together to create our cooperative. So, for me, Capricorn’s strong performance in 2023 comes weighted with a sense of history—a sense of just how far we’ve come and of how much of a difference this cooperative makes to Members and their businesses. For Capricorn, it was a good year. I’m proud of the record number of Rising Stars nominations we received—after all, our apprentices are our future. It was great to see so many Members keen to honour the achievements of the industry’s newest talent. This year our State of the Nation Special Report: The Skills Shortage focused on the most important issue facing our industry and helped us understand how it was impacting Members. We created a lot of Member wealth, including $50.1 million in Capricorn Rewards Points, $17 million in Trade Rebates, and a net dividend of 7% per share. We created $82.8 million in value to Members. In this twentieth anniversary year of Capricorn Mutual, Capricorn Risk Services wrote $121.9 million in gross protection for Capricorn Mutual, and Capricorn Finance provided $49.8 million in loans. Business vehicle finance loans have been included in our CAP ezi-finance offering for the first time. We launched a new-look myCAP experience and introduced online payments, making life easier for Members, and a new joint venture with Repairify to bring cutting-edge technology to the collision industry. It was a year when we welcomed more than 3000 new Members to the Capricorn community and held 33 Trade Shows and Golf Days. We celebrated with you, holding Gala Dinners in Auckland, Christchurch, New South Wales, Queensland, South Australia, Victoria and Western Australia. New Zealand Members also elected a new director this year, James Candish. I know I speak for all the team when I say we look forward to working closely with James to ensure NZ Members’ voices continue to be heard strongly throughout the cooperative. So, a big year for Capricorn. I’d like to take this opportunity to thank the team at Capricorn for all their hard work in helping achieve these fantastic results for Members. Finally, I’d like to thank you for being a valued part of our cooperative family. I wish you all the best for the year ahead and look forward to achieving more great things together in 2024.
4 CAPRICORN SOCIETY ANNUAL GENERAL MEETING
We are pleased to share the main outcomes.
6
PROTECTING YOUR BUSINESS DURING FESTIVE SEASON How to prevent holiday heists.
9 AAAA FUTURE
READINESS REPORT
New study finds aftermarket gearing up for EVs.
12 AAAEXPO - THE FUTURE IS HERE
The Expo will take place 11-13 April 2024 in Melbourne.
14 THE CUSTOMER
TRENDS OF 2023
What you need to know to prepare for 2024.
16 BURNOUT: THE
HIDDEN COST OF THE SKILLS SHORTAGE
Advice on how to spot and manage this serious issue.
20 COLLISION’S TRAINING CRISIS
Are you neglecting to train your staff?
22 CLASSIC/MEMBER RIDE: FORD FALCON FUTURA XL
An unloved classic gets a new lease on life.
27 EPIC 60TH
ANNIVERSARY OF BATHURST 1000 Another brilliant chapter for this legendary race.
David Fraser Group CEO
All information, material and content in this edition of Ignition is provided or sourced by Capricorn Society Limited (“Capricorn”) for general information only and is not intended to be advice or comment on any particular matter or subject. Before acting on any information in this edition of Ignition you should consider the relevance of it to your own circumstances and, if necessary, take professional advice. Any opinions expressed in an Ignition article are those of the relevant individual author and do not necessarily reflect the opinions or views of Capricorn. Capricorn makes no representation or warranty as to the accuracy, completeness or reliability of any material (including without limitation, any third party authored article or supplier advertisement in respect of which Capricorn merely acts as conduit) included in this edition of Ignition. To the fullest extent permitted by law, Capricorn, its officers, employees, agents and representatives disclaim any and all liability to you or any other person for any loss or damage whatsoever connected with: i. reliance on any material in Ignition; or ii. any inaccuracy, error or omission in any material in Ignition. CAPRICORN IGNITION DECEMBER 2023 3
