Centurion Motor Exchange Business Plan — Competitive Landscape

Franchise used departments, independents and online platforms, and the basis on which this dealership competes.

Section 9 of 28

Competitive Landscape

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Competitors cluster at the low-price and high-assurance ends, leaving the middle open

Table 9.1: Competitor assessment

Competitor type	Position and scale	Pricing	Strengths	Weaknesses	Threat
WeBuyCars (JSE-listed scale trader)	Largest buyer and seller of used vehicles in SA; 179,006 units sold in FY25; revenue R26.4bn	Average c. R148,000; sharp, data-led	Scale, brand, buying engine, finance integration, large sites	Limited reconditioning and after-sale assurance; margin pressure in entry band	High on price-led buyers
Franchised approved-used (e.g. Toyota Automark, dealer-group programmes)	Manufacturer-backed pre-owned programmes across group dealerships	Upper band; late-model stock	OEM warranty, trust, trade-in flow from new sales	Higher prices; narrower brand range	Medium–High on assurance-led buyers
Independent dealers in the corridor	Dozens of small and mid-sized yards; 20–150 units each	Varies; often negotiable	Local relationships, flexibility	Inconsistent condition, limited finance reach, variable compliance	Medium
Premium independent boutiques	Specialists in high-value and performance vehicles	R600k+	Curated stock, service	Different price band	Low
Private sellers via classifieds	Large share of transactions; fragmented	Often below dealer prices	Price	No warranty, fraud risk, no finance facilitation	Medium (also a stock source)

Sources: WeBuyCars FY25 results and 2026 interim commentary (Financial Mail, Moneyweb, ITWeb); Company analysis.

Estimated share of catchment used-vehicle retail (Company estimate)

Precise corridor-level share data is not published. On the basis of dealer counts and site visits, we estimate that franchised approved-used programmes account for 35–40% of dealer-retailed units in the catchment, scale traders for 20–25%, independent dealers for 30–35% and other channels for the balance. The Company’s FY32 plan equates to roughly 4–5% of catchment units, taken mainly from independent dealers and private sales.

Figure 1. 1: Competitive positioning matrix

On a ten-point benchmark the Company is designed to lead on assurance and match on price

Table 9.2: Competitive benchmark (1 = weak, 5 = strong; Company scores are design targets)

Criterion	Centurion Motor Exchange	Scale trader	Franchised approved-used	Independent yards
Price competitiveness	4	5	3	3
Stock range in R150k–R450k band	4	4	3	3
Reconditioning standard	5	2	5	2
Inspection transparency	5	3	4	2
Return policy and warranty	5	2	5	2
Finance access (multi-bank)	4	4	4	2
Speed of transaction	4	5	3	3
Digital experience	4	5	3	2
Trade-in and buying offer	4	5	3	3
Brand trust	3	4	5	2
After-sales follow-up	4	2	5	2
Total (max 55)	46	41	43	26

Strategic white space and why the Company can win

White space

Assured, reconditioned vehicles priced for the median Gauteng household.
Multi-bank finance with pre-approval before the visit.
Transparent, written trade-in offers for customers who also want to buy.
Business buyers needing bakkies with a proper VAT invoice and fast turnaround.

Why the Company can win

It targets a band where scale traders under-invest in reconditioning and franchised dealers are thinly stocked.
Its advantage — process discipline — is replicable internally but hard for informal competitors to copy.
It needs only c. 4–5% of catchment units.
Staged capital lets it prove the format before scaling.

The Company will not out-scale WeBuyCars or out-brand manufacturer programmes. Its defensibility is modest and operational: buying skill, disciplined reconditioning and a reputation built one corridor at a time. Investors should treat that as a real but narrow moat.