WeBuyCars, South Africa’s leading used-vehicle retailer, has reported robust financial growth for the year ended 30 September 2025 despite facing intensified competition from affordable Chinese car manufacturers entering the local market. The company acknowledged that aggressive pricing from brands such as GWM and Chery has influenced buyer behaviour and placed temporary pressure on its profit margins, yet it remains confident that the influx of these vehicles will prove beneficial over the longer term.
Group revenue climbed 13.1% to R26.4 billion, driven by higher trading volumes, according to the company’s latest annual results. The business purchased 180,576 vehicles during the period, a rise of 7.7%, while sales reached 179,006 units, marking an 8.4% increase. November 2024 delivered a new monthly record of 16,294 vehicles sold, underlining the group’s continuing ability to expand its share of the market even in a challenging environment.
The strength of the new-vehicle sector, particularly the competitive offers from Chinese manufacturers, has encouraged many South African consumers to opt for brand-new cars rather than used ones. As reported by Business Day, this shift contributed to softer demand in parts of the pre-owned segment during the second half of the year. In response, WeBuyCars lowered its own selling prices to protect liquidity and maintain rapid stock turnover, a decision that inevitably squeezed gross margins in the short term.
Management emphasised, however, that the growing presence of Asian brands will ultimately enlarge the pool of quality used vehicles available for resale in the coming years. Once these new cars enter the second-hand market, they are expected to broaden the company’s sourcing options and support sustained growth.
On the expansion front, WeBuyCars continued to strengthen its nationwide network. New supermarkets opened in Rustenburg in October 2024 and Vereeniging in August 2025, adding hundreds of additional parking bays. Several existing sites, including those in Pietermaritzburg, George, Polokwane, Mbombela, the Dome, Riverhorse Valley, Gqeberha, and Germiston, were upgraded or relocated to larger premises. By September 2025 the group’s total capacity had reached 12,911 bays, with further supermarkets scheduled to open in Montana (Pretoria North) and Lansdowne (Cape Town) before the end of the current financial year, boosting capacity by more than 20%.
Financially, core headline earnings rose 15% to R937.6 million, supported by increased volumes, improved average selling prices, a stronger contribution from insurance products, lower finance charges, and operational efficiencies gained through scale. Although the issuance of new shares during 2024 diluted per-share metrics slightly, headline earnings per share still more than doubled to 224.6 cents. In line with its dividend policy of distributing between 25% and 33% of headline earnings, the board raised the final cash dividend by 20% to 30 cents per share.
Looking ahead, WeBuyCars stated that it intends to pursue responsible geographic expansion while capitalising on near- and medium-term opportunities in the evolving South African automotive landscape. With monthly sales regularly exceeding 15,000 units and a clear strategy to turn short-term headwinds into future tailwinds, the group appears well positioned to maintain its dominant position in the used-car market.