Business

Second-hand vehicle trading platform VavaCars sold 30 thousand vehicles in 2022

VavaCars, a second-hand vehicle buying and selling platform, added great activity to the sector with the sales of 30 thousand vehicles in 2022. Stating that they closed 2022 in line with their targets, VavaCars Co-Founder and CEO Lawrence Merritt said, “We will continue to lead the sector by maintaining our customer-oriented approach in 2023.”

VavaCars, an online second-hand vehicle trading platform that has been serving in Turkiye since 2019, continues to grow with its investments.

Having implemented Turkiye’s largest vehicle expertise and renewal centers in Istanbul Pendik and Ankara Ergazi with a total of $200 million in 2022, the company sold 30 thousand vehicles throughout the year. VavaCars, which closed 2022 with sales above expectations, aims to achieve the same success in 2023.

Lawrence Merritt: “We made a big difference in the industry”

VavaCars Co-Founder and CEO Lawrence Merritt stated that they closed the year 2022 with a success beyond their expectations and said: “By redesigning the second-hand vehicle experience in Turkiye, we have sold 30 thousand vehicles in 2022. The successful result we have achieved is an indication of the difference we have made in the sector and the correct strategy we have implemented.”

“We changed the rules of the game in Turkiye”

Lawrence Merritt reminded that as a result of their investments amounting to $200 million in 2022, they realized the largest vehicle renewal and expertise centers in Turkiye. “As VavaCars, which provides high-quality service at a good price, we offer an integrated experience where all end-to-end transactions, from vehicle purchase and sale to annual maintenance, can be experienced online. We changed the rules of the game in Turkiye, which did not have such facilities before, with our vehicle expertise and renewal center investment in Istanbul Pendik and Ankara Ergazi. As a company that takes investment-oriented growth as its mission, we aim to close the year at a breakeven point by maintaining the profitability rate we achieved at the end of 2022 in 2023 as well.”

“Our priority is to contribute to the Turkish economy”

Stating that by redesigning the second-hand vehicle experience in Turkiye, they created the opportunity for their customers to buy and sell vehicles with peace of mind, Lawrence Merritt said, “Turkiye is in the fourth position in Europe with the second-hand vehicle market exceeding $50 billion, after England, France and Germany. As VavaCars, we have brought an investment of $100 million from abroad in the 3 years since our establishment, in order to further grow this market. As a reliable and inspiring brand that supports sustainable economic development, adds value to the market, and continues to contribute to the country’s economy in 2023, it is among our priority goals.”

Source: Egirisim / Translated by Irem Yildiz

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