South Africa’s largest used-vehicle retailer, WeBuyCars, has slashed prices on thousands of pre-owned vehicles as aggressive pricing from emerging Chinese automakers reshapes the national automotive landscape. In its interim results for the six months ending March 31, 2026, the company reported a solid 7.8% revenue increase to R14.2 billion, driven by record-breaking trading volumes across its expanding network of physical branches and online platforms.
However, earnings per share dipped 1.7%, a direct consequence of strategic downward price adjustments on high-turnover inventory. The most significant cuts targeted vehicles priced between R350,000 and R500,000—a sweet spot now fiercely contested by affordable new Asian brands such as Chery, GWM, and Jetour. These Chinese marques have stormed local sales charts, claiming top positions in monthly new-vehicle registrations and forcing used-car dealers to recalibrate their margins. “We are responding to market realities,” said a company spokesperson, noting that the influx of competitively priced new vehicles has created a ripple effect across the entire value chain.
Management, however, sees a clear silver lining: every new Chery or GWM sold today is a future trade-in tomorrow. As these vehicles age and enter the second-hand pool, WeBuyCars expects a surge in supply of relatively young, high-quality stock. Despite the margin squeeze, the company raised dividends by 10%, signaling confidence in long-term fundamentals. Buyers are already benefiting, enjoying unprecedented choice and negotiating power as dealers compete for shrinking margins. With Chinese brands projected to capture even more market share, South African motorists appear poised for a sustained period of buyer-friendly conditions.
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