Two brothers behind South Africa’s biggest used-car business stand inside their warehouse, overseeing thousands of vehicles. | Source: The South African
The founders of WeBuyCars, brothers Faan and Dirk van der Walt, earned a combined R28.7 million in the 2025 financial year—about R2.39 million ($125,000) a month—as South Africa’s biggest used-car retailer continued to grow.
The two brothers who started buying and selling used cars in South Africa from a smallholding outside Pretoria in 2001 now run a business that sells roughly 15,000 vehicles every month. That growth shows clearly in their pay. CEO Faan van der Walt earned R17.3 million, while Executive Director Dirk van der Walt took home R11.4 million, according to the company’s latest annual report.
Faan’s package included a base salary of R9.86 million, retirement benefits, performance bonuses, and share awards. Although, Dirk’s earnings followed a similar structure, with a lower base salary but strong incentive and long-term share components. Other senior executives, including the CFO and COO, each earned just over R10 million.
The financial results back that up. For the 2025 financial year, which ended in September, WeBuyCars grew revenue by 13.1% to R26.4 billion, while core profits rose 15%. The group bought and sold close to 180,000 vehicles, recorded its highest-ever monthly sales in late 2024, and kept expanding its large car supermarkets and nationwide buying pods.
Why More South Africans Are Choosing Used Cars Over New Ones
More importantly, the business is riding a trend shift in South Africa’s used-car market. Second-hand cars in South Africa are no longer just a fallback choice. Rising living costs, expensive car finance, and tighter household budgets are pushing buyers to focus on value, reliability, and predictable costs. Moreover, for many families and small businesses, a well-priced used car now makes more sense than buying new. Dealerships and online platforms continue to see steady demand, and even the rise of cheaper new Chinese vehicles is expected to expand the pool of used cars over time. All signs suggest second-hand cars in South Africa will only become more central to how people buy and own vehicles.
