WeBuyCars Loses More Than R7 Billion in Market Value

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WeBuyCars Loses More Than R7 Billion in Market Value

WeBuyCars, one of South Africa's largest used vehicle trading platforms, has experienced a significant decline in market value following increased competition and weaker financial performance.

According to the Coffee Break article, the company has lost more than R7 billion in shareholder value over a four-month period.

Share Price Decline

Listed on the Johannesburg Stock Exchange (JSE) in April 2024 with an opening share price of R20.00, WeBuyCars enjoyed rapid investor growth during its first 15 months, with its share price rising by almost 200%.

However, market conditions have since changed. Between 23 January 2026 and 11 May 2026, the company's share price fell by 31%, dropping from R52.85 to R36.51.

Increased Competition

The article attributes the decline to growing competition from lower-priced Chinese vehicles and weaker financial results, creating additional pressure on South Africa's used vehicle market.

Market Capitalisation Impact

As a result of the declining share price, WeBuyCars' market capitalisation decreased from approximately R22 billion to R15 billion, representing a loss of more than R7 billion in shareholder value.