We Buy Cars revenue hits R26.4 billion, but Chinese vehicles imports pose major threat to used car market

Stephen Grootes speaks to Faan van der Walt, Founder and Executive Director at We Buy Cars about the company reporting R26.4 billion in revenue and unveiling bold expansion plans to dominate South Africa’s used car market.

Listen to the interview in the audio player below.

We Buy Cars posted a 13.1% increase in group revenue, reaching R26.4 billion for the year ended 30 September 2025.

The company’s vehicle buying and selling volumes also rose, with 180,576 units bought (up 7.7%) and 179,006 units sold (up 8.4%).

Sales momentum remained strong, highlighted by an all-time monthly record of 16,294 units sold in November 2024. Over the past year, the group recorded monthly sales above 15,000 units in six of the last 12 months, helping it to further gain market share.

Despite this growth, We Buy Cars noted market pressures particularly from the growth of the Chinese automotive sector.

Chinese brands like GWM, BYD, and Haval are gaining popularity among South African motorists, who are choosing to purchase new vehicles at significantly lower prices than comparable used cars. 

Speaking to Stephen Grootes on The Money Show, Faan van der Walt, founder and executive Director at We Buy Cars says they've had to adapt to the dynamic and rapidly changing car sales market in South Africa.

"We've seen periods where there's accelerated depreciation in vehicles, and the opposite when supply and demand ebbs and flows from time to time. Now what's happened this year, the Chinese onslaught, not only on the new vehicle industry, but it also impacts the used car industry," says Van der Walt.

Van der Walt says there are many second hand vehicles that compete in the same price range as the new Chinese vehicles.

"It's quite evident when you look at how many new models you can buy for between R400,000 and up. So there's definitely been a shift in the market. Some of the legacy brands are struggling to compete with the offering," adds Van der Walt. 

Scroll to the top of the article to listen to the full interview.