WeBuyCars recorded revenue growth of 13.1 percent to reach 26.4 billion rand as the used vehicle platform handled over 180,000 purchases and nearly 179,000 sales, generating core headline earnings of 937.6 million rand. The Johannesburg Stock Exchange-listed company credited geographic expansion and digital improvements for lifting monthly transactions above 15,000 units while announcing a 20 percent dividend increase.
Management identified affordable Chinese vehicle imports as a potential challenge to the secondhand automobile sector, as brands including Chery, Haval and BAIC captured more than one-third of new car financing in certain segments. Industry executives warned that the surge in lower-priced models from manufacturers based in China could diminish demand for pre-owned vehicles when new options carry comparable price tags, forcing traditional dealers to reconsider their strategies amid intensifying market competition.
Management identified affordable Chinese vehicle imports as a potential challenge to the secondhand automobile sector, as brands including Chery, Haval and BAIC captured more than one-third of new car financing in certain segments. Industry executives warned that the surge in lower-priced models from manufacturers based in China could diminish demand for pre-owned vehicles when new options carry comparable price tags, forcing traditional dealers to reconsider their strategies amid intensifying market competition.
