WeBuyCars is being coy about the exact location of its new premises in East London, although it has announced its intention to start trading from the site as soon as June, only days away.
The current sales office is a small prefab in the carpark at Retail Park in Beacon Bay.
One possibility is the premises on the corner of Devereaux Ave and Old Transkei Rd in Nahoon, but no one in the industry will put their head on the block.
Owned by Kempston, this site has been empty for sometime, with tantalising messages painted on its windows about the purported new tenants.
A spokesperson for Kempston could not be reached by print deadline on Wednesday.
The new WBC site will apparently have capacity for around 300 vehicles, according to Dispatch sister publication Business Day.
WBC has beaten expectations in its recently announced financial performance despite tough trading conditions, reporting a 26% rise in core headline earnings and revenue increase of 5.9%.
The earnings should be considered a sterling achievement in light of headwinds facing the company, like lower expenditure availability in its prime market group, fluctuating but steadily increasing fuel prices and stubbornly high interest rates.
WBC, founded in 2002 by Dirk and Faan van der Walt, has a stellar reputation for fair trading. The company has nearly 3,000 employees, 20 large outlets and 75 buying offices.
In 2021 it sold around 84,000 vehicles, which jumped to 168,000 in 2023. The aim is to grow this to 276,000 by 2028.
It purchased nearly 81,785 vehicles over the trading period and sold 80,538, achieving a record of 14,285 in March.
WBC said the good results were due to increased sales at higher average prices, better margins, overall efficiency, faster inventory turnover and economies of scale.
SA’s pre-owned sector experienced a substantial growth in 2023 over 2022 of 7,9%. This was due to “remarkable influx of high-quality used vehicles into the local pre-owned market.”
According to data from AutoTrader, nearly 100,000 more vehicles were listed for sale between January and June 2023 compared to the same period in 2020.
Group1 Cars.co.za predicted a promising year in 2024 for used vehicles, with strong demand expected.
It reported that despite higher fuel prices and a “challenging economic environment, the industry remains resilient”.
Meanwhile, on the newest of new vehicles front, Pretoria-based Enviro Automotive will launch an electric car priced below R400,000 in SA in the last quarter of 2024.
The Dayun Yuehu from China is a four-seater mini SUV with a 31.7kWh ternary lithium battery that gives it a claimed 330km range and a top speed of 100km/h, making it suitable as an urban commuter, as well as one of the most affordable electric vehicles (EVs) in SA.
The car, which will carry a Dayun S5 Mini SUV badge in SA, has a modern interior with touchscreen infotainment, multifunction steering wheel and a digital instrument panel.
The City Blitz four-seater EV is cheaper at R239,900 but it is a tiny, golf cart-sized car with a length of 2,245mm and width of 1,290mm, with a 160km range.
The Yuehu is much larger at 3,695mm long and 1,685mm wide, making it similarly sized to a Kia Picanto and capable of transporting four adults.
SA’s least expensive “adult-sized” EV is the GWM Ora 03 at R686,950, which at 4,235mm is slightly larger than a VW Polo.
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