The thirty-second session of Unlock the Stock features We Buy Cars Ltd.

Unlock the Stock is proudly brought to you by The Finance Ghost, Mark Tobin and Keyter Rech Investor Solutions.

00:00 Introduction
02:25 We Buy Cars Ltd Presentation
31:18 We Buy Cars Ltd Q&A
1:02:13 Wrap Up

We Buy Cars Limited
In the early 2000s, brothers Faan and Dirk van der Walt observed that selling an older vehicle in the South African market was a lengthy and challenging process for individual consumers. They established the WeBuyCars brand in 2001 to provide vehicle owners with a quick, easy and trusted solution to sell their vehicles. The Company recognised a gap in the market to facilitate efficient vehicle sales, which it achieved by formalising the pre-owned motor vehicle market on the basis described below. The ability of customers to efficiently sell or buy a vehicle or to sell their vehicle to a reputable, trusted company quickly grew the customer base of WeBuyCars.

Historically, sellers of older vehicles often experienced lengthy waiting periods for potential buyers to respond to their advertisements for cars for sale. Faan and Dirk van der Walt had well-placed billboards and newspaper advertisements offering their vehicle-buying service. Customers preferred selling their vehicles to the van der Walt brothers as they personally evaluated vehicles at the vehicle sellers’ workplace or home and made immediate payments to their customers. In the early years, Faan and Dirk van der Walt personally evaluated, bought, and auctioned off vehicles based on their extensive knowledge of the pricing of cars.

What started as a modest venture soon became a household name among South Africans. As it gained popularity, WeBuyCars developed a diverse marketing strategy that included modest newspaper advertisements, mega billboards, and radio and digital marketing campaigns.

Soon, the demand was too large for Faan and Dirk van der Walt to be the only buyers in the business. In response, WeBuyCars appointed a network of individual buyers to operate across South Africa, with an on-road presence, to buy cars nationwide. This step led to a surge in vehicles available for resale, leading to a need for vehicle supermarkets. WeBuyCars established its vehicle supermarkets, which store and sell cars to individuals, traders, and dealers. WeBuyCars’ investment in these vehicle supermarkets enhanced its national footprint and accessibility for its clientele.

In 2017, WeBuyCars introduced buying pods at retail malls across South Africa, providing yet another convenient avenue for customers to sell vehicles whilst also serving as a strategic marketing tool for many mall visitors. WeBuyCars now buys and sells cars from 15 supermarkets, has 74 buying pods and has more than 340 buyers nationwide.

In 2018, automation was introduced into the business when WeBuyCars started developing its purpose-built system and technology infrastructure. Data is collected on each vehicle, which, together with market and customer behaviour data, informs pricing inputs on the business's buying and selling side. These internal data sets and pricing mechanisms are designed to leverage economies of scale. This enables the Group to successfully manage many customer leads every month. WeBuyCars values developing and improving its internal systems, therefore it utilises its resources efficiently to continuously adapt and improve its pricing strategies and respond to market changes and external factors dynamically.

WeBuyCars’ system facilitates smooth and efficient customer transactions when selling vehicles. Customers can quickly sell their cars within a few hours and receive immediate payment for their vehicles. The entire transaction is characterised by speed, simplicity, and safety.
6.8 WeBuyCars’ offering extends beyond the buying and selling of vehicles. Finance and insurance managers are available at all its vehicle supermarkets, creating a one-stop shopping experience for customers seeking finance, insurance coverage and vehicle tracking devices. WeBuyCars also assists in selling warranty and extended warranty products, service plans, tyre and rim covers, and scratch and dent covers. Every vehicle has an independently generated DEKRA used vehicle condition and roadworthy relevant report, ensuring transparency and building customer trust

WeBuyCars now has more than 2,800 employees and trades approximately 14,000 vehicles monthly. The Company remains committed to growth.

To find out more about WeBuyCars Ltd, please visit https://www.webuycars.co.za/investors....

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