WeBuyCars has big plans to double its market share in South Africa by 2028.
WeBuyCars announced it has signed lease agreements in prime locations in East London, Cape Town, and North West—with one opening for business as soon as next month—as it strives to double its market share in South Africa.
WeBuyCars was separately listed on the JSE on 11 April 2024, following Transaction Capital Limited’s unbundling of all its shares in WeBuyCars.“Long-term earnings growth trajectory for the six months ended 31 March 2024, with core headline earnings at R402 million growing 26.6% compared to the prior comparable six-month period.
Group revenue at R11.4 billion increased by 15.9% compared to the prior comparative period. Buying and selling volumes at 81,785 and 80,538 units were up 13.7% and 13.4%, respectively.In 2021, Additionally, the WeBuyCars website is averaging 6.4 million monthly visits with 2 million unique visitors.Our ambition is to grow our monthly volumes to 23,000 per month and double our market share by 2028In April 2024, it signed a lease agreement to secure a prime location in East London, Eastern Cape.
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