WeBuyCars (WBC), South Africa’s leading technology-enabled used vehicle trading platform, has reported strong interim results for the six months ended March 2025, further building on its successful JSE listing in April 2024. The company achieved double-digit growth in revenue and vehicle sales, along with a second interim dividend declaration, highlighting its operational resilience and disciplined cash management. With a focus on scaling its physical footprint and digital capabilities, WeBuyCars is capitalising on the strong demand in the used car market while managing macroeconomic challenges.
Financial Highlights
● Revenue: Up 15.2% YoY (Year-on-Year) to R13.1 billion, driven by higher transaction volumes and average selling prices.
● Core Headline Earnings: Increased 26.4% to R508.2 million.
● Vehicle Transactions:
● 92 339 bought (+12.9% YoY)
● 91 392 sold (+13.5% YoY), with record monthly sales of 16 294 units in November 2024.
● Return on Equity (ROE): A standout 47.6%, reflecting efficient capital deployment.
● Dividend: R0.30 per share declared, aligning with its progressive payout policy.
WeBuyCars' share price has surged over 130% since its IPO to reach R46, reflecting strong market confidence as the company executes an aggressive expansion strategy. This growth is driven by new facilities in Vereeniging opening in August 2025 and Cape Town/Pretoria North in late 2025, which will add 3 000 vehicles to its capacity, funded by a balance of internal reserves and debt. The company maintains its market leadership with a dominant digital platform attracting 8.7 million monthly visits, cementing its position as one of South Africa's top online auto retailers. WeBuyCars' asset-light model and technology-driven efficiencies support its ambitious target of 23 000 monthly sales by 2028.
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** This article was prepared by BROKSTOCK analyst Maboko Seabi
