WeBuyCars is losing buyers in South Africa

• WeBuyCars is losing buyers in South Africa due to increasing competition from Chinese car brands offering competitive pricing.
• Chinese car brands have lured young buyers away from used-car lots, with 68% of buyers under 35 opting for new Chinese cars, and 70% of young South Africans buying second-hand cars due to lower prices.
• WeBuyCars has reacted by cutting prices of their used vehicles, but the shift towards new cars has made them less competitive, forcing the company to adjust its pricing and selling behaviour.