WeBuyCars to turn Ticketpro Dome into one of world's biggest used-car dealerships

accreditation
0:00
play article
Subscribers can listen to this article
The official opening date of the new WeBuyCars branch is still to be announced.
The official opening date of the new WeBuyCars branch is still to be announced.
File

WeBuyCars has bought the TicketPro Dome in Northgate, Johannesburg, from the Sasol Pension Fund, and plans to turn it into one of the biggest used car dealerships in the world.

It will be able to store approximately 1 500 vehicles.

WeBuyCars CEO Faan van der Walt points out that The Dome was originally intended to be a permanent motor showroom, allowing people to view and test drive a variety of vehicle brands under one roof. However, this never materialised and it became a multi-purpose entertainment venue for many years.

Van der Walt says WeBuyCars is now able to finally realise the original vision that was held for The Dome and develop it into a large used car dealership.

According to the company this will also allow it to increase its footprint in the Johannesburg area.

"Apart from cementing our presence in northern Johannesburg, we are confident this growth path will have a positive impact on the economy," says Van der Walt.

WeBuyCars currently has eight branches located nationally, of which four are in Gauteng. The newest branch, in Germiston, launched in June 2021.

READ | INTERVIEW | Transaction Capital reckons WeBuyCars could be its biggest business yet

The biggest financier of the SA minibus taxi industry, Transaction Capital, took a controlling stake in WeBuyCars in a R1.6 billion deal in May. 

WeBuyCars, the biggest car-buying service in the country, was founded in 2001 by brothers Faan and Dirk van der Walt. Faan van der Walt used the money he saved from working as a teacher in the UK as the initial capital investment to launch the company.

The business enables the owners of cars, bakkies, busses, bikes, trailers, caravans and boats to get quotes for their assets online, and sends agents to visit their homes to buy these vehicles. WeBuyCars sells these vehicles through their showrooms and weekly online auctions.

The official opening date of the new WeBuyCars branch is still to be announced.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Rand - Dollar
14.85
-0.0%
Rand - Pound
20.42
-0.0%
Rand - Euro
17.48
-0.0%
Rand - Aus dollar
10.94
-0.0%
Rand - Yen
0.13
-0.0%
Gold
1,802.28
0.0%
Silver
25.18
0.0%
Palladium
2,675.50
0.0%
Platinum
1,064.50
0.0%
Brent Crude
74.10
+0.4%
Top 40
61,933
+1.0%
All Share
68,064
+1.0%
Resource 10
66,904
+1.5%
Industrial 25
89,442
+0.7%
Financial 15
12,820
+1.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
In light of the recent looting, do you think a basic income grant is the right approach to deal with SA’s hunger and poverty problems?
Please select an option Oops! Something went wrong, please try again later.
Results
It will go a long way in helping fight the symptoms of SA’s entrenched inequality, especially for those who are starving right now
20% - 1270 votes
SA’s problems are complex, and we instead need to spend that money on building and growing our economy, which will help the country in the long run
31% - 2019 votes
All grants are a problem as they foster a reliance on handouts
49% - 3189 votes
Vote