How WeBuyCars Keeps Winning in Tough Markets

When the going gets tough, WeBuyCars gets going. Despite a challenging economy marked by low growth, high interest rates, and wary consumers, this phygital used-car retailer has not just survived but thrived. In its first full year as a JSE-listed company, WeBuyCars reported an impressive 16.5% revenue growth, bringing in ZAR23.3 billion ($1.3 billion), and a 23.4% rise in core earnings, reaching ZAR815.4 million.

• According Tariq Ahmed Saeedi from the AIM Group, WeBuyCars bought 167,741 vehicles (up 17.8% year-on-year) and sold 165,185 (up 16.4%). Higher selling prices and operational efficiencies kept margins stable despite tough trading conditions.
  
  
• The company added one retail outlet, bringing the total to 16, and expanded its parking bays by 8.7% to handle more vehicles. Its buying pods, key to sourcing inventory, increased making the process even more accessible.

• A new outlet in East London for 300 vehicles.
• A Pretoria location to accommodate 1,000 cars.
• A Lansdowne, Cape Town site set to open by October 2025.
• These initiatives align with its goal to double its market share by 2028, fueled by anticipated improvements in interest rates and consumer confidence.

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