While Cartrack owner Karooooo posted double-digit subscriber growth and revenue for its half-year to end August, it announced on Thursday that it would no longer be buying used cars for its growing Carzuka online platform.
"Subsequent to the quarter end, and despite the growth experienced by Carzuka in South Africa, a decision was made to cease buying second-hand vehicles in South Africa," the company said. "This follows considerable interaction with motor dealerships across South Africa over the last few months, in conjunction with Carzuka’s expansion, as some of the motor dealerships started perceiving Carzuka’s business interests to conflict with their business interests."South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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