The founders of South Africa’s top used-vehicle retailer, WeBuyCars, Faan and Dirk van der Walt, earned a total of R28.7 million in the 2025 financial year\u2014working out to R2.39 million per month. <\/p>\n\n\n\n
The group published its annual report this week, detailing the pay packages for its top executives.<\/p>\n\n\n\n
WeBuyCars CEO Faan van der Walt saw his earnings rise to R17.3 million in 2025.<\/p>\n\n\n\n
The company\u2019s Executive Director, Dirk van der Walt, earned R11.4 million, while CFO Chris Rein earned R11.0 million.<\/p>\n\n\n\n
The total compensation for WeBuyCars executive directors comprises their base salary, retirement benefits, the expense of share plan awards, and incentive bonuses.<\/p>\n\n\n\n
The company\u2019s CEO received a basic salary of R9,860,000, retirement benefits totalling R1,074,000, Conditional Share Plan (CSP) awards valued at R2,450,000, and an annual incentive bonus amounting to R3,955,000.<\/p>\n\n\n\n
The total remuneration for the Executive Director amounts to R11,361,000. <\/p>\n\n\n\n
This compensation package consists of a basic salary of R6,528,000, retirement benefits totalling R709,000, CSP awards valued at R1,625,000, and an annual incentive bonus of R2,499,000.<\/p>\n\n\n\n
Both the CEO and the executive director voluntarily offered to forfeit a portion of their Short-Term Incentive (STI) and requested that the funds be redirected to other key employees.<\/p>\n\n\n\n
This generous decision by the CEO and Executive Director reflects their commitment to fostering a motivated workforce, which contributed to the company’s growth and increased earnings in the 2025 financial year.<\/p>\n\n\n\n
In the 2025 financial year, WeBuyCars successfully expanded both its physical supermarkets and digital platforms, leading to a 15% increase in core headline earnings. <\/p>\n\n\n\n
This expansion involved building more car supermarkets and enhancing its online technology, which significantly improved the company’s ability to buy and sell vehicles. <\/p>\n\n\n\n
As a result of managing a greater volume of cars and operating more efficiently, their main operational profit rose by 15% compared to the previous year.<\/p>\n\n\n\n In its results for the year ended 30 September 2025, the group reported an increase in revenue of 13.1% to R26.4 billion. <\/p>\n\n\n\n Buying and selling volumes of 180,576 and 179,006 units were up 7.7% and 8.4%, respectively.<\/p>\n\n\n\n The number of vehicles bought and sold continues to grow, with sales volumes reaching an all-time monthly record of 16,294 units in November 2024.<\/p>\n\n\n\n With monthly sales volumes exceeding 15,000 units in six of the last 12 months, the group has continued to gain market share.<\/p>\n\n\n\n However, the group acknowledged that it experienced market pressure due to structural shifts within the South African automotive industry, particularly related to an influx of Chinese brands.<\/p>\n\n\n\n Coming in at attractive price points, these vehicles have shifted consumer behaviour, bolsterning the new vehicle market. <\/p>\n\n\n\n Nevertheless, WeBuyCars said that this would eventually lead to an expanded used car market further down the line.<\/p>\n\n\n\n WeBuyCars was established in 2001 by brothers Faan and Dirk van der Walt on a smallholding in Pretoria.<\/p>\n\n\n\n In 2010, the company acquired its first warehouse, which could hold 100 cars. After purchasing additional land over the years, they expanded capacity to 700 vehicles. <\/p>\n\n\n\n Eventually, WeBuyCars outgrew the available space in the business park, prompting further expansion.<\/p>\n\n\n\n WeBuyCars has branches spanning across six provinces, currently with seven in Gauteng, two in the Eastern Cape, three in KwaZulu-Natal, four in the Western Cape, one in Limpopo, one in North West, and one in Mpumalanga.<\/p>\n\n\n\n In addition, the company has opened over 100 “buying pods”, which are spread across every province in the country.<\/p>\n\n\n\n The pods are small offices, often located in shopping centre parking lots, that offer in-person evaluations.<\/p>\n\n\n\n This service complements WeBuyCars’ operations, as highlighted in its latest Integrated Annual Report, which shows the company sold 179,000 cars in the 2025 financial year, averaging 15,000 per month.<\/p>\n","protected":false},"excerpt":{"rendered":" The founders of South Africa\u2019s leading used-vehicle retailer, WeBuyCars, earned a combined R28.7 million in the 2025 financial year.<\/p>\n","protected":false},"author":127,"featured_media":828195,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,1],"tags":[16124,12861],"class_list":["post-848911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-trending","tag-faan-van-der-walt","tag-webuycars"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/848911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/127"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=848911"}],"version-history":[{"count":11,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/848911\/revisions"}],"predecessor-version":[{"id":848972,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/848911\/revisions\/848972"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/828195"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=848911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=848911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=848911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Executive<\/th> Role<\/th> Basic remuneration<\/th> Retirement benefits<\/th> Annual Incentive Bonus (STI)<\/th> CSP awards (LTI)<\/th> Total remuneration<\/th><\/tr><\/thead> ASS (Faan) van der Walt<\/strong><\/td> CEO<\/td> R9 860 000<\/td> R1 074 000<\/td> R3 955 000<\/td> R2 450 000<\/td> R17 339 000<\/td><\/tr> DJF (Dirk) van der Walt<\/strong><\/td> Executive Director<\/td> R6 528 000<\/td> R709 000<\/td> R2 499 000<\/td> R1 625 000<\/td> R11 361 000<\/td><\/tr> CJ (Chris) Rein<\/strong><\/td> CFO<\/td> R3 643 000<\/td> R521 000<\/td> R2 595 000<\/td> R4 278 000<\/td> R11 037 000<\/td><\/tr> J Mills<\/strong><\/td> COO<\/td> R3 329 000<\/td> R351 000<\/td> R2 359 000<\/td> R4 550 000<\/td> R10 589 000<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n Financial performance<\/h2>\n\n\n\n