How much WeBuyCars paid for The Dome – The biggest used-car dealership in Africa

WeBuyCars (WBC), one of South Africa’s most successful pre-owned vehicle dealers, paid R175 million to acquire the TicketPro Dome in Johannesburg, which would become the biggest used-car dealership on the African continent.

Property broker Ash Muller revealed that the 90,000m² facility was sold to WBC on 11 June and handed over on 15 December 2021 following a lengthy ban on social gatherings in the aftermath of the Covid-19 pandemic, the location’s previous owners being the Sasol Pension Fund.

The Dome was traditionally used to host concerts and trade shows, however, its original purpose was to be a massive new car showroom where buyers can browse and test drive dozens of brands under one roof.

WBC acquired The Dome to fulfill this vision, the important distinction being that it offers customers pre-owned instead of brand-new vehicles.

Today, it has been renamed the WeBuyCars Dome and welcomes an average of 1,500 to 2,000 customers a day, and it houses approximately 1,300 vehicles of all shapes and sizes, said Chief Marketing Officer Rikus Blomerus.

The Dome is also labeled the WeBuyCars Leisure Centre, as the list of products under its roof includes not just cars, but also things like motorcycles, caravans, trailers, and boats.

Source: Ash Muller

13,000 cars a day

WBC has been enjoying a stellar few years since the onslaught of Covid-19 pushed many buyers toward the pre-owned market as new cars became all but unattainable.

In 2019, the company was already a force to be reckoned with, with approximately 1,000 employees and a presence in all major provinces around the country, but when the pandemic hit, WBC saw an influx of new customers arriving at its doors.

In 2020, WBC bought and sold fewer than 6,000 vehicles a month, with the already-impressive number grabbing the attention of Transaction Capital which purchased a 49.9% stake in the company in September of that year to the tune of R3.69 billion.

The cash injection gave WBC the opportunity to grow even more, and in the first half of 2021, it reported an average of 7,250 vehicles purchased per month and an average of 6,925 sold.

This performance again prompted Transaction Capital to increase its stake to 74.9% with an additional R1.84 billion becoming the majority owner in the process.

In 2022, WBC sat at an average of 10,000 vehicles bought per month and 9,750 sold.

Now in 2023, the company transacts between 12,000 and 13,000 vehicles every month both incoming and outgoing, around double what it did just a few short years ago.

In its latest financial statement, Transaction Capital revealed that WBC raked in R9.83 billion in the six months ended March 2023, buying 71,928 and selling 71,020 vehicles during this time.