VavaCars, an online trading platform for buying and selling second-hand cars, plans to raise its investments in Türkiye to USD 200 million in its third year in the country.
The company, poised to open Türkiye’s largest inspection and vehicle renewal centers very soon, will commission inspection and vehicle reconditioning centers in Ankara, Istanbul and Izmir with its IRC (Inspection and Reconditioning Center) investments.
VavaCars CEO and Co-Founder Lawrence Merritt declared, “Türkiye is in the fourth position in Europe after the UK, France and Germany, with its used vehicle market of USD 50 billion. We evaluate Türkiye’s potential as high and see it as a promising market. For these reasons, we decided to beef up our investment in Türkiye in 2022.”
In addition to the high-tech equipment in their facilities, test-drive and road simulation devices will be empowered with AI-based simulation techniques in the stations where fully automatic photographic technologies, vehicle and process tracking with RFID, and eddy current braking technology are used.
Last but not least, Merritt promised to recruit young workers, “With our new investment, we will also make a significant contribution to youth employment. Türkiye has a young population with an average age of 32.7 and we think that there is a great talent pool to ensure customer loyalty. We plan to increase the number of our employees, from 280 at the moment to 1,000 next year.”