Motus acquires 49% stake in GetWorth
Transaction significantly enhances the group’s pre-owned vehicle capabilities and ability to develop new markets
Motus Holdings Ltd (Motus), South Africa’s leading automotive group, has acquired a 49% stake in GetWorth (Pty) Ltd (GetWorth), a pioneering innovator in South Africa’s pre-owned vehicle industry. The acquisition will fast-track Motus’ positioning in the online and warehouse retailing segment.
Commenting on the acquisition, Motus CEO, Osman Arbee, said: “The pre-owned vehicle market is undergoing rapid change, and this transaction secures important capabilities for Motus. GetWorth has developed highly innovative products and Artificial Intelligence-based solutions that we will deploy through the group. GetWorth is also breaking new ground in integrating the physical and online worlds with new retail formats.”
The collaboration between Motus and GetWorth will challenge the existing vehicle-buying market through innovative opportunities and will increase the options available to South African car shoppers. The acquisition also underpins Motus’ intention to future-proof its new and pre-owned retail businesses and aims to empower its customers and dealers by matching the scale of the trusted and established Motus dealer network with the GetWorth innovative processes and systems.
GetWorth co-founder, Jamie Surkont, said: “We are eager to unlock the potential in our business with this strategic investment. Motus has significant operational scale and recognises the value of innovation. This partnership moves us both closer to our ambition of providing South African customers with solutions to real-life problems whilst ensuring a more sustainable ownership cycle.”
GetWorth’s flagship signature retail space will be launched in Cape Town by the end of this year, followed by Gauteng. “This physical footprint will enhance our online offering and provide a superior one-touch service to our customers,” added Surkont.