The WeBuyCars online auction platform launched to private consumers in March had seen significant growth, the company said this week adding that from mid-December, finance would be available to consumers buying a vehicle on it online auction.
Janson Ponting, the sales director at WeBuyCars, said, “Eighty percent of all our sales to dealers are now conducted via online auctions, and much of that is thanks to dealer acceptance of the integrity of the offering together with relationships based on trust. It’s gratifying though, that we are seeing a similar shift from our public buyers, resulting in double-digit growth month on month.”
Ponting said October was a record month for online auction sales to consumers, with close to 1000 participants.
“It takes time for a new concept to gain acceptance, especially with big-ticket items such as cars, but thanks to our focus on constantly improving our digital offering and technology, underpinned by credibility and consumer trust in the WeBuyCars brand, this platform is gaining significant traction.”
Transaction Capital, which owns a 74.2 percent stake in WeBuyCars, said in its recent year to September 30 results that WeBuyCars was able to sell second hand cars at relatively low margins, selling some 9000 per month, making it one of the biggest second-hand car dealers in the country.
BUSINESS REPORT ONLINE