WeBuyCars will next month open a new car “supermarket” in eMalahleni, Mpumalanga, with a capacity for 450 vehicles.
The JSE-listed company has over the past few years rapidly expanded its dealerships across key cities in seven provinces on the back of increasing demand for pre-owned cars.
Last year it opened new supermarkets in Montana, Pretoria, and Vereeniging, and this month in Lansdowne, Cape Town.
WeBuyCars has 18 car supermarkets and 83 buying pods, where vehicle owners can have their cars evaluated and bought by the company.
It has continued to grow market share, with growth in units sold of 8.4% to 179,006 in the 2025 financial year. Last year, total used vehicle registrations increased by 1.2% 1,740,103 from 1,720,009 in 2024 while new vehicle registrations rose 11.9% to 612,653 from 547,581 in 2024.
CEO Faan van der Walt said in the company’s latest annual report released on Friday that WeBuyCars experienced margin pressure from structural shifts within the automotive industry.
The continued strength of the new vehicle market, together with the rapid rise of competitively priced Chinese brands, including GWM, Chery, Omoda, Jaecoo, Jetour, MG, JAC and BAIC, had significantly influenced consumer behaviour and heightened competition. “These brands have captured notable market share through attractive pricing and compelling new vehicle offerings.”
He said for WeBuyCars, each new vehicle sold represents a future opportunity in the pre-owned market, either through trade-ins or direct sales. “As more affordable new vehicles enter the market, the pipeline of used vehicles expands, reinforcing the foundation of our business. These shifts also reflect a broader consumer trend, with South Africans increasingly prioritising affordability, technology and long-term value in their purchasing decisions.”
New vehicle sales of Chinese brands increased by 74.4% year-on-year, while other brands with value-for-money offerings, such as Suzuki, grew their new vehicle sales by 26,4%, according to WeBuyCars.
WeBuyCars CFO Chris Rein said: “The buoyant new vehicle market and the growing penetration of Asian brands are expected to have a positive long-term impact on WeBuyCars, as these vehicles will enter the used-vehicle market in the future. This will expand the group’s acquisition base and opportunity set.”
WeBuyCars’ target is to sell 23,000 cars per month by 2028. Last year monthly sales exceeded 15,000.
The company is also selling pre-owned cars on behalf of third parties like banks and dealerships. In December, it concluded the acquisition of a 49% stake in the digital vehicle auction platform GoBid for R376.8m, which it said “represents a significant step in strengthening WeBuyCars’ market position across the full used-vehicle value chain”.
WeBuyCars’ target is to sell 23,000 cars per month by 2028
WeBuyCars has faced criticism from consumers over Dekra vehicle inspection and valuation reports. It has created Inspectify, a vehicle inspection entity to provide “accurate and transparent vehicle assessments”.
Last month, WeBuyCars was fined R2.4m in administrative fees by the National Consumer Commission (NCC) and was ordered to refund R3.4m to 31 consumers who had lodged complaints with the NCC.
According to the NCC, consumers complained that the company failed to provide remedies to consumers based on sale agreements signed between the supplier and the consumer. The NCC formed a “reasonable suspicion that WBC’s terms and conditions, particularly in relation to warranty and terms of sale, contravened several provisions of the CPA [Consumer Protection Act]”.
As part of the agreement, WeBuyCars has agreed to create 300 employment opportunities over a period of up to five years, and committed to educating consumers on the purchase of used motor vehicles.
Van der Walt said in the annual report the initial engagement with the NCC arose as a result of differing views on the interpretation of certain terms and conditions in sales agreements.
While WeBuyCars, supported by external legal advice, maintains its terms, conditions, and trading practices are appropriate. “We elected to prioritise regulatory guidance, cooperation, and business continuity through settlement. In doing so, WeBuyCars has sought to engage constructively with the NCC, not only in its own interests, but also in the interests of the broader used vehicle industry, recognising the importance of regulatory clarity and consistency,” he said.
Van der Walt said the settlement with the NCC was not expected to impact how WeBuyCars applies its terms and conditions. “Our focus has always been on ensuring that our terms benefit the consumer, and we anticipate that the changes arising from this settlement will not disrupt our daily operations.
“The majority of the amendments required are straightforward and align with our existing practices. However, there may be one or two changes that will provoke healthy debate with the NCC, ultimately aiming to enhance consumer protection and understanding.”
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