Why WeBuyCars Is Pumping the Brakes on New Vehicle Sales For Now

WeBuyCars Isn’t Jumping Into New Vehicle Sales Yet. Here’s Why That Matters.

WeBuyCars, one of South Africa’s most dominant names in the second-hand vehicle market, has confirmed it has no immediate plans to start selling new vehicles, despite growing pressure and interest from international car manufacturers.

In a country where new car registrations are climbing—and used car growth is slowing—this decision might sound surprising. But for the team behind the brand, it’s a calculated call to stay in their lane while the road ahead becomes clearer.

OEMs Come Knocking

According to the company, several original equipment manufacturers (OEMs) have approached WeBuyCars to consider adding brand-new vehicles to their inventory. The idea is simple: nearly a third of customers who sell their car to WeBuyCars go on to buy a new vehicle elsewhere.

So why not become a one-stop shop?

The concept makes sense in theory. Customers could weigh the pros and cons of new versus used cars in a single showroom. But WeBuyCars isn’t ready to make that shift just yet.

“We’ve been approached by OEMs in the past, but we’re not planning to include new cars in our inventory at this stage,” said Chief Marketing Officer Rikus Blomerus. “Right now, our focus is on expanding our footprint and improving digital capabilities.”

Their goal? 23,000 used car sales per month by 2028.

Why the Timing is Tricky

The conversation comes at a critical point for South Africa’s vehicle market. As interest rates ease and Asian automakers flood the scene with affordable new models, many consumers are leaning toward new entry-level cars over second-hand luxury brands.

TransUnion’s latest Mobility Insights Report found a 19.1% surge in new passenger vehicle registrations in the first quarter of 2025. Meanwhile, growth in used car sales has dipped, now hovering at less than 1%.

The report also noted that Chinese brands, once met with skepticism, are winning over South African buyers with improved dealer networks, reliable parts supply, and strong value-for-money.

This trend is beginning to nibble at the edges of the used car market—but for now, WeBuyCars doesn’t seem too worried.

“More of a Threat to Premium Brands Than to Us”

WeBuyCars CEO Faan van der Walt acknowledged the shift, but says the real squeeze is on premium automakers trying to compete with the new wave of affordable options.

“For us, the impact has been limited,” he said. “A broader range of vehicles simply gives South Africans more choice.”

And that’s a good thing—especially in a market where vehicle ownership is still out of reach for many.

Business is Booming

Despite growing competition from new vehicles, WeBuyCars is on a roll. The company sells over 15,000 cars a month through its 17 vehicle supermarkets and nearly 100 buying pods nationwide. In November 2024 alone, it moved a record-breaking 16,294 vehicles.

Its financials tell the same story:

• Revenue grew 15.2% to R13.1 billion

• Buying and selling volumes are both up more than 12% year-on-year

• The company is actively hiring, with three new branches opening in Cape Town, Montana, and Vereeniging by the end of 2025—creating 500 new jobs

These sites add to recent expansions in Pietermaritzburg, George, Johannesburg South, and more—cementing WeBuyCars’ presence across the country.

Staying in Their Lane For Now

In an industry constantly evolving with tech upgrades, market disruptions, and changing buyer behaviour, WeBuyCars seems committed to one thing: doing one job very well. And for now, that means sticking to second-hand.

But with OEMs knocking and South Africans increasingly cross-shopping between new and used, the company may need to revisit that decision sooner rather than later.

As one user commented on a local car forum, “Imagine going to sell your old car and walking out with a brand-new one—without ever leaving the building. That’s the future.”

Maybe it is. Just not quite yet for WeBuyCars.

Source:Business Tech

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