How many cars WeBuyCars buys and sells in one day

The latest financial results from WeBuyCars (WBC) show that the industry powerhouse purchased an astounding 167,741 and sold 165,185 used cars in the financial year ended 30 September 2024.

This translates to a daily average of approximately 458 cars being bought and 451 being sold between WBC’s 16 supermarkets and 83 buying pods around the country.

In total, the transactions brought in a revenue of R23.32 billion for the vehicle retailer, reflecting an increase of 16.5% compared to the year period, with core operating profits growing by 18.6% to an impressive R1.22 billion for the 2023/24 financial year.

WBC attributes the growth to “higher volumes, higher average selling prices, operational efficiencies, higher inventory turns, and cost efficiencies driven by economies of scale.”

It also managed to maintain gross profit margins at similar levels to those recorded in the prior year, despite difficult trading conditions underscored by “low GDP growth, pressure on consumer affordability, high interest rates, and low levels of consumer confidence.”

Room for growth

WBC sees more room for growth in the South African market.

It is currently in the process of setting up a new supermarket in the Cape Town suburb of Lansdowne that will be able to accommodate as many as 1,150 cars.

“The planning for the Lansdowne supermarket in Cape Town is progressing well and the development is scheduled for completion in October 2025,” the company said.

Furthermore, WBC plans to establish two more supermarkets over the coming year, both based in Gauteng.

It entered into a property sale agreement to purchase land in Montana, Pretoria, which will be developed during 2025 to accommodate approximately 1,000 models.

It also acquired an existing motor dealership in Vereeniging in October 2024 which it plans to convert into a WBC outlet that will commence trading in May 2025.

Owing to its strong financial position, these developments will be funded through existing cash resources and available debt facilities, the company said.