\u201cInterest is payable on these borrowings at rates ranging from the prime interest rate minus 1,85% to 2,25%,\u201d it stated.<\/p>\n\n\n\n
Despite the current challenging trading conditions, WeBuyCars said it remained steadfast in its medium- to long-term growth aspirations.<\/p>\n\n\n\n
\u201cIn this regard, the group opened its Montana supermarket in Pretoria North on 26 November 2025, the Lansdowne supermarket in Cape Town on 16 January 2026, and the Witbank supermarket on 9 February 2026,\u201d it said.<\/p>\n\n\n\n
\u201cAll of these developments were delivered as planned, with the exception of Lansdowne. The Lansdowne development opened four weeks later than planned due to unexpected delays with the City Council.\u201d<\/p>\n\n\n\n
WeBuyCars said these three supermarkets collectively expanded its national parking bay footprint by 23,6%, or 2,980 parking bays.<\/p>\n\n\n\n
\u201cThese additions are consistent with the group\u2019s stated footprint expansion programme and support the group\u2019s medium-term volume aspiration of buying and selling 23,000 vehicles a month by FY2028,\u201d it said.<\/p>\n\n\n\n
\u201cProgress towards this milestone remains on track.\u201d<\/p>\n\n\n\n
Pressure from new Chinese cars<\/h2>\n\n\n\n![\"\"](\"https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2026\/05\/2018-Changan-Alsvin-1200x675.jpg\")
Changan Alsvin, a new affordable Chinese car that became available in South Africa<\/figcaption><\/figure>\n\n\n\nWeBuyCars delivered headline earnings and core headline earnings of R500.1 million for the six months ended 31 March 2026, down 1,6% on the prior comparable period.<\/p>\n\n\n\n
\u201cThe performance follows a continued challenging and deflationary trading environment, in strong contrast to the buoyant trading conditions experienced in the prior period,\u201d it stated.<\/p>\n\n\n\n
\u201cThe core headline earnings were also impacted by the opening of three new supermarkets, following a drive to invest ahead of the curve to secure expansion in key strategic areas.\u201d<\/p>\n\n\n\n
WeBuyCars said that, notwithstanding the current trading environment, it continued to expand its footprint and grow its market share in line with planned growth aspirations.<\/p>\n\n\n\n
However, the current trading environment was impacted by the growth in the new vehicle market (up 15,7% for the 2025 calendar year), aided by the aggressive rise of competitively priced Asian brands.<\/p>\n\n\n\n
\u201cThis has significantly influenced consumer behaviour and heightened competition, with these brands capturing notable new vehicle market share through attractive pricing and compelling finance offerings,\u201d it said.<\/p>\n\n\n\n
\u201cThe current strength of the new vehicle market in South Africa continues to place pressure on margins across the used vehicle sector. Used vehicle prices experienced deflation in the six-month period.\u201d<\/p>\n\n\n\n
Traditional manufacturers, in an attempt to regain lost ground, responded in kind. This further intensified price competition.<\/p>\n\n\n\n
\u201cThis compressed the value differential that has historically made used vehicles a more attractive choice for many South African consumers,\u201d WeBuyCars stated.<\/p>\n\n\n\n
To maintain liquidity and ensure healthy turnover of stock, WeBuyCars said it reduce the selling prices of its inventories, particularly those competing with the Asian brands and the competitively priced new vehicles.<\/p>\n\n\n\n
\u201cThis was a proactive and necessary response, but one that placed further pressure on the group\u2019s margins,\u201d it said.<\/p>\n\n\n\n
Analysts such as Ricus Reeders from PSG Hole In One Ruimsig previously highlighted the impact on WeBuyCars by the influx of affordable Chinese cars.<\/p>\n\n\n\n
This has resulted in the company\u2019s share price declining by 45% since its high of around R60 per share on 9 July 2025, to R35.13 at market close on Friday.<\/p>\n\n\n\n![\"\"](\"https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2026\/05\/WeBuyCars-share-price-11-April-2024-to-15-May-2026.jpg\")
WeBuyCars share price since listing on the JSE<\/figcaption><\/figure>\n\n\n\nWeBuyCars\u2019s secret weapon<\/h2>\n\n\n\n
WeBuyCars\u2019s management believes that although these market dynamics put pressure on them in the short term, the medium-term outlook looked good.<\/p>\n\n\n\n
\u201cThe buoyant new vehicle market and the growing penetration of Asian brands are expected to be positive in the medium-term for WeBuyCars, as these vehicles enter the used vehicle market,\u201d the company said.<\/p>\n\n\n\n
\u201cThis will expand the group\u2019s acquisition base and opportunity set.\u201d<\/p>\n\n\n\n
WeBuyCars said it also continued to invest in its proprietary digital business platform, which lets the group optimise operations through pricing strategies.<\/p>\n\n\n\n
\u201cMoreover, it facilitates large-scale experimentation, enabling improvement to business processes and pricing models dynamically,\u201d it said.<\/p>\n\n\n\n
\u201cAs the business continues to scale, so does the volume of data gathered, providing invaluable insights that fuel ongoing efficiency enhancements and the streamlining of the vehicle buying and selling processes.\u201d<\/p>\n\n\n\n
As the business scaled, WeBuyCars said it consistently invested in marketing spend to grow the lead count and enhance its brand.<\/p>\n\n\n\n
\u201cInvestment in the consumer app and the website has facilitated increased online engagement with customers, making the vehicle buying and selling experience more user-friendly and efficient,\u201d it said.<\/p>\n\n\n\n
\u201cThe WeBuyCars website averages 8.0 million monthly visits from its 2.4 million unique visitors.\u201d<\/p>\n\n\n\nWeBuyCars interim results<\/th> 31 March 2026<\/th> 31 March 2025<\/th> % change<\/th><\/tr><\/thead> Revenue<\/strong><\/td>R14.2 billion<\/td> R13.1 billion<\/td> +7.8%<\/mark><\/td><\/tr>Net cash generated from operating activities<\/strong><\/td>R65.4 million<\/td> R284 million<\/td> -77.0%<\/mark><\/td><\/tr>Profit after tax<\/strong><\/td>R499.3 million<\/td> R507.0 million<\/td> -1.5%<\/mark><\/td><\/tr>Borrowings raised<\/strong><\/td>R1.59 billion<\/td> R494 billion<\/td> N\/A<\/td><\/tr> Net borrowings<\/strong><\/td>R2.23 billion<\/td> R1.26 billion<\/td> +77.3%<\/mark><\/td><\/tr>Basic earnings per share<\/strong><\/td>119.5 cents<\/td> 121.5 cents<\/td> -1.5%<\/mark><\/td><\/tr>Headline earnings per share<\/strong><\/td>119.7 cents<\/td> 121.8 cents<\/td> -1.7%<\/mark><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"WeBuyCars reported a 77% decline in cash generated from operating activities, a 1.5% decrease in after-tax profit, and has raised R1.59 billion in additional debt.<\/p>\n","protected":false},"author":15,"featured_media":648038,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80335,29366],"tags":[100345,82343,47108],"class_list":["post-648035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","category-motoring","tag-psg-hole-in-one-ruimsig","tag-ricus-reeders","tag-webuycars"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/648035"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=648035"}],"version-history":[{"count":3,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/648035\/revisions"}],"predecessor-version":[{"id":648117,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/648035\/revisions\/648117"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/648038"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=648035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=648035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=648035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
WeBuyCars delivered headline earnings and core headline earnings of R500.1 million for the six months ended 31 March 2026, down 1,6% on the prior comparable period.<\/p>\n\n\n\n
\u201cThe performance follows a continued challenging and deflationary trading environment, in strong contrast to the buoyant trading conditions experienced in the prior period,\u201d it stated.<\/p>\n\n\n\n
\u201cThe core headline earnings were also impacted by the opening of three new supermarkets, following a drive to invest ahead of the curve to secure expansion in key strategic areas.\u201d<\/p>\n\n\n\n
WeBuyCars said that, notwithstanding the current trading environment, it continued to expand its footprint and grow its market share in line with planned growth aspirations.<\/p>\n\n\n\n
However, the current trading environment was impacted by the growth in the new vehicle market (up 15,7% for the 2025 calendar year), aided by the aggressive rise of competitively priced Asian brands.<\/p>\n\n\n\n
\u201cThis has significantly influenced consumer behaviour and heightened competition, with these brands capturing notable new vehicle market share through attractive pricing and compelling finance offerings,\u201d it said.<\/p>\n\n\n\n
\u201cThe current strength of the new vehicle market in South Africa continues to place pressure on margins across the used vehicle sector. Used vehicle prices experienced deflation in the six-month period.\u201d<\/p>\n\n\n\n
Traditional manufacturers, in an attempt to regain lost ground, responded in kind. This further intensified price competition.<\/p>\n\n\n\n
\u201cThis compressed the value differential that has historically made used vehicles a more attractive choice for many South African consumers,\u201d WeBuyCars stated.<\/p>\n\n\n\n
To maintain liquidity and ensure healthy turnover of stock, WeBuyCars said it reduce the selling prices of its inventories, particularly those competing with the Asian brands and the competitively priced new vehicles.<\/p>\n\n\n\n
\u201cThis was a proactive and necessary response, but one that placed further pressure on the group\u2019s margins,\u201d it said.<\/p>\n\n\n\n
Analysts such as Ricus Reeders from PSG Hole In One Ruimsig previously highlighted the impact on WeBuyCars by the influx of affordable Chinese cars.<\/p>\n\n\n\n
This has resulted in the company\u2019s share price declining by 45% since its high of around R60 per share on 9 July 2025, to R35.13 at market close on Friday.<\/p>\n\n\n\n WeBuyCars\u2019s management believes that although these market dynamics put pressure on them in the short term, the medium-term outlook looked good.<\/p>\n\n\n\n \u201cThe buoyant new vehicle market and the growing penetration of Asian brands are expected to be positive in the medium-term for WeBuyCars, as these vehicles enter the used vehicle market,\u201d the company said.<\/p>\n\n\n\n \u201cThis will expand the group\u2019s acquisition base and opportunity set.\u201d<\/p>\n\n\n\n WeBuyCars said it also continued to invest in its proprietary digital business platform, which lets the group optimise operations through pricing strategies.<\/p>\n\n\n\n \u201cMoreover, it facilitates large-scale experimentation, enabling improvement to business processes and pricing models dynamically,\u201d it said.<\/p>\n\n\n\n \u201cAs the business continues to scale, so does the volume of data gathered, providing invaluable insights that fuel ongoing efficiency enhancements and the streamlining of the vehicle buying and selling processes.\u201d<\/p>\n\n\n\n As the business scaled, WeBuyCars said it consistently invested in marketing spend to grow the lead count and enhance its brand.<\/p>\n\n\n\n \u201cInvestment in the consumer app and the website has facilitated increased online engagement with customers, making the vehicle buying and selling experience more user-friendly and efficient,\u201d it said.<\/p>\n\n\n\n \u201cThe WeBuyCars website averages 8.0 million monthly visits from its 2.4 million unique visitors.\u201d<\/p>\n\n\n\n WeBuyCars reported a 77% decline in cash generated from operating activities, a 1.5% decrease in after-tax profit, and has raised R1.59 billion in additional debt.<\/p>\n","protected":false},"author":15,"featured_media":648038,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80335,29366],"tags":[100345,82343,47108],"class_list":["post-648035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","category-motoring","tag-psg-hole-in-one-ruimsig","tag-ricus-reeders","tag-webuycars"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/648035"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=648035"}],"version-history":[{"count":3,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/648035\/revisions"}],"predecessor-version":[{"id":648117,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/648035\/revisions\/648117"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/648038"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=648035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=648035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=648035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}WeBuyCars\u2019s secret weapon<\/h2>\n\n\n\n
WeBuyCars interim results<\/th> 31 March 2026<\/th> 31 March 2025<\/th> % change<\/th><\/tr><\/thead> Revenue<\/strong><\/td> R14.2 billion<\/td> R13.1 billion<\/td> +7.8%<\/mark><\/td><\/tr> Net cash generated from operating activities<\/strong><\/td> R65.4 million<\/td> R284 million<\/td> -77.0%<\/mark><\/td><\/tr> Profit after tax<\/strong><\/td> R499.3 million<\/td> R507.0 million<\/td> -1.5%<\/mark><\/td><\/tr> Borrowings raised<\/strong><\/td> R1.59 billion<\/td> R494 billion<\/td> N\/A<\/td><\/tr> Net borrowings<\/strong><\/td> R2.23 billion<\/td> R1.26 billion<\/td> +77.3%<\/mark><\/td><\/tr> Basic earnings per share<\/strong><\/td> 119.5 cents<\/td> 121.5 cents<\/td> -1.5%<\/mark><\/td><\/tr> Headline earnings per share<\/strong><\/td> 119.7 cents<\/td> 121.8 cents<\/td> -1.7%<\/mark><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"