Pre-owned vehicle dealer WeBuyCars is deepening its technology investments as its revenue keeps climbing.
The JSE-listed company today announced annual financial results for the year ended 30 September. WeBuyCars reported another year of strong growth, with revenue up 13% to R26.4 billion and core headline earnings rising 15% to R937.6 million for the year ended 30 September.
The company bought 180 576 vehicles and sold 179 006 during the year, representing increases of 7.7% and 8.4%, respectively.
Monthly sales volumes exceeded 15 000 units in six of the last 12 months.
CEO Faan van der Walt comments:“Despite a tough economic environment, we delivered robust results by focusing on what matters most – our customers, our people and our technology.
“We’ve significantly expanded our capacity and invested ahead of the curve in people and technology. These steps position us well to reach our goal of 23 000 vehicles per month by 2028. The used-car market in South Africa is large and growing, and at this point we only have a small share of the second-hand car park.”
The firm opened new supermarkets in Rustenburg and Vereeniging, and expanded capacity at George, Polokwane, the Dome, Johannesburg South and Mbombela locations, increasing national capacity to 12 911 parking bays.
The company also added 23 new buying pods, bringing the total to 106 nationwide, with planned openings in Montana (Pretoria North) and Lansdowne (Cape Town) before year-end, which will boost further capacity by more than 20%.
WeBuyCars says it has secured land in Richards Bay and eMalahleni (Witbank), which will anchor further expansion in 2026.
It adds that it will continue investment in technology and infrastructure to support growth, including the launch of Inspectify, its in-house vehicle condition reporting platform.
The company’s WeFin finance system is now also fully operational, speedingup credit approvals and improving outcomes for both customers and staff.
The board has declared a final cash dividend of 30c per share, up 20% fromlast year, bringing the total dividend for the year to 60c per share. The final dividend will be paid on 8 December.
As part of its succession planning, the board has appointed Dr Wynand Beukes as deputy CEO, effective 1 January 2026.
Currently serving as chief digital officer, Beukes has been a driving force behind the WeBuyCars digital transformation and will continue in that role, while working closely with Van der Walt to ensure leadership continuity, states the firm.
Van der Walt says: “Wynand has been instrumentalin shaping the future of WeBuyCars. His appointment as deputy CEO is a natural next step and will strengthen our leadership team as we continue to grow and innovate.”
Beukes adds: “I’m excited to step into this new role and build on the strong foundation we’ve created. Our focus on technology and customer experience will remain central as we drive growth and innovation across the business.”
Share