A GIANT INVESTMENT OF 200 MILLION DOLLARS
TR MINISTRY OF INDUSTRY AND TECHNOLOGY
Industry and Technology Minister Mustafa Varank stated that VavaCars Expertise and Renovation Center and similar initiatives will make a great contribution to the sector, and said, "VavaCars will provide serious employment by investing close to 200 million dollars in Turkey in the coming period." said.
Minister Varank inaugurated the VavaCars Pendik Expertise and Renovation Center in Pendik. Noting that Turkey has the capacity to produce 2 million vehicles per year, Varank said, "We are a very serious manufacturer that can export over 30 billion dollars. Although new vehicle sales are around 700-800 thousand, approximately 6 million in automobiles in the second-hand market; It is one of the largest markets in Europe, where 9 million vehicles are bought and sold when you add commercial vehicles, construction equipment and tractors. In such a large and dynamic market, second-hand sales have an important place in the economy.” he said.
Stating that this business, traditionally done by dealers, now meets technology, Varank said, “We see that 2 million of 6 million cars were sold through online shopping sites last year. This is a very serious number and we think it will increase gradually. With the introduction of new technologies, new trends, electronic commerce and technology companies such as VavaCars in this sector, we are coming to a time when our citizens can buy and sell second-hand cars much more comfortably, much safer, and much more easily.” used the phrases.
TECHNOLOGY AND COMPETITION
Minister Varank said that gallery shopkeepers visited him at the beginning of the week and said, "I said to them, 'How do you look at online shopping?'. They said, 'We are open to any kind of competition. As long as the market is competitive.' Our gallery shopkeepers are also ready for technology and competition. Hopefully, with initiatives like this, we will grow this cake in Turkey even more. VavaCars is an investment made by a foreign investor seeing the potential in Turkey and is an investment that only exports it to Pakistan at the moment, but there will be more to come.” made its assessment.
CONTRIBUTION TO THE ECONOMY
Minister Varank stated that they want to grow Turkey with value-added technology and said, “Initiatives like this will make a great contribution to the ecosystem, especially to the Turkish economy. The rapid increase in companies from Turkey, which has a valuation of more than a billion dollars, lies in our hearts. Hopefully, with such initiatives, we will see them in our country. We currently have 6 'unicorns', our phrase 'Turcorn'. We strongly believe that this will reach 10 or more by 2023.” he said.
TRUST IN SECOND HAND AUTOMOTIVE
Explaining that trust is very important in second-hand automotive sales, Varank said, “In this sense, it is important for our citizens to prefer companies certified by the Turkish Standards Institute, especially when having appraisals. With the Turkish Standards Institute, we control companies that make appraisals. We both look at the calibration of the machinery and equipment they use here and document their processes. Today we will officially open a beautiful initiative. VavaCars Expertise and Renovation Center and initiatives like this will make a great contribution to the sector. I really congratulate our entrepreneur and investor here. VavaCars will provide a serious employment opportunity by investing close to 200 million dollars in Turkey in the coming period.” used the phrases.
VavaCars Operations Group President Taner Timirci also stated that they are celebrating their 3rd anniversary in Turkey as VavaCars and said, “We are undertaking a digital transformation in the purchase and sale of second-hand vehicles. We enable our customers in all of Turkey to safely purchase vehicles from a corporate company with the most economical conditions. In line with the target set by our Minister, I hope, within the next year, we will expand to other countries and cause a new company from Turkey, which we call 'Turcorn', to be included in the list.” said.
After the opening speeches, Minister Varank visited the VavaCars Pendik Expertise and Renovation Center, chatted with the workers at the center and got information. The opening event ended with the presentation of a gift by VavaCars Operations Group President Taner Timirci to Minister Varank in memory of the opening and a souvenir photo shoot with the workers.
VavaCars Operations Group President Taner Timirci and Pendik Mayor Ahmet Cin also attended the ceremony.