According to the interim results, WeBuyCars grew headline earnings by 58% to R406 million in HY2022, with the group\u2019s attributable portion increasing 122% to R251 million.<\/p>\n
Transaction Capital increased its effective shareholding in WeBuyCars in August 2021 to 74.2% and as a result, now consolidates a greater component of WeBuyCars earnings.<\/p>\n
The group said that WeBuyCars achieved its medium-term target of<\/span> 10,000<\/span> vehicles traded per month earlier than anticipated, with vehicles sold up 32% during the reporting period, and vehicles bought up 31%. The group saw vehicle bays up by a similar percentage (34%). WeBuyCars recorded 7,205 parking bays in 10 vehicle supermarkets, up from 4,738 in HY2021. That number has since grown to 7,835 parking bays in 11 vehicle supermarkets in May 2022.<\/p>\n In the last six months,WeBuyCars opened its largest vehicle supermarket at the Dome in Johannesburg with a capacity of 1,125 bays and has also opened smaller dealerships in Polokwane and Nelspruit with 220 and 370 bays, respectively.<\/p>\n In the next 12 months, it plans to introduce a further three dealerships in various locations in South Africa.<\/p>\n WeBuyCars said that it anticipates 600 additional bays by December 2022.<\/p>\n Vehicles bought per month: +38%<\/strong><\/p>\n Vehicles sold per month<\/span>: +41%<\/span><\/span><\/strong><\/p>\n
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