World’s Biggest Independent Oil Trader is Making Used Gas Powered Cars a Household Name in Europe, Pakistan, & World Auto Retail Markets.

SITUATION:
World’s biggest independent oil trader wants to make a deal.|
Storied trading house has launched a new venture called Vava Cars.
Vava was founded as oil trader more than 50 years ago in Holland,.

SIGNIFICANCE:
Mission is to become most trusted car transaction platform in the world.
Turkey’s average car prices increased sharply in the past couple years.
Vava moved aggressively to diversify its business away from oil.
Funding a business buying and selling used cars is a decidedly new tack.
Price of used cars has soared in Turkey amid a shortage of new vehicles.
Vitol & other trading houses hiring data scientists & building “data-refineries”
Seeking  to interpret millions of daily data points UC sales and price info.

SOLUTION(S) :
 World’s biggest energy traders are trying to diversify their core business.
From buying, blending & transporting oil & refined hydrocarbon products.
Amid the transition to vehicles using greener fuels.
Prices of some UCs are now higher than new vehicles, same make & model.
Turks are turning to second-hand cars to hedge against rampant inflation.
Vava has major presence in Pakistan with 40% stake in Hascol Petroleum Ltd.,

SAYS:s

Revolutionary new service takes the hassle out of trading second hand vehicles Allows consumers to sell & dealers to buy with confidence,”
Vava says–. “We are the future of used car selling and buying.”

SOURCES:
The World’s Biggest Oil Trader Wants to Buy Your Used Car –https://www.bloomberg.com/news/articles/2020-10-06/the-world-s-biggest-oil-trader-wants-to-buy-your-used-car?cmpid=BBD100620_BIZ&utm_medium=email&utm_source=newsletter&utm_term=201006&utm_campaign=bloombergdaily

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