Major investments in the Turkish automotive sector
Light commercial vehicle market leader in Turkey
Producer of Doblo, Turkey’s bestselling light commercial vehicle
The only Turkish company to produce both passenger cars and light commercial vehicles
Significant share in overall Turkish production
In 2014, Tofaş accounted for 19% of the total production in Turkey with a volume of 222,807 vehicles. The Company exported 142 thousand vehicles during the year. Posting sales of TL 7,440 million, export revenue of US$ 1,979 million, and foreign surplus of US$ 367 million, the Company continued to create value added for the national economy.
Investing in new models
With Tofaş’s new US$ 520 million investment project for manufacturing hatchback and station wagon models announced at year-end 2014, the Company’s total investment reached US$ 1.4 billion. Also, Doblo started being exported to North America.
Leader of light commercial vehicles in the domestic market
In 2014, Tofaş brands reached a total market share of 12% in the Turkish auto market.
Tofaş is the leader of the domestic light commercial vehicle market with its Fiat brand, reaching a market share of 27.5%. The Company ranks 3rd in the total passenger car and light commercial vehicles market with a market share of 11.6% and 89,128 unit sales.
During the year, Tofaş launched 500L Living of the Fiat 500 family with a seating capacity of up to seven individuals, as well as Fiat 500L Beat Edition, Fiat 500 GQ series, Fiat Freemont’s new version Freemont Cross and Panda’s SUV vehicle Panda Cross. Fiat launched the 6th generation of its top selling commercial vehicle model, Ducato.
The total sales figures of the Jeep brand doubled over the previous year, while Maserati became the fastest growing automobile brand. New Cherokee, the medium SUV model of the Jeep brand, and Renegade, its first model in the small SUV segment were introduced to the Turkish market, while Ferrari’s new model California T started being delivered to customers in Turkey.
Main awards and successes
- The only Turkish company in the A List of the Climate Performance Leadership Index 2014 announced by the Carbon Disclosure Project,
- 2nd prize in the “İnovaLig Innovation Champions” organized by Turkish Exporters Assembly with support from The Ministry of Economy,
- The only automotive firm in the BIST Sustainability Index,
- A Corporate Governance Rating of 9.01,
- Tofaş Human Resources received an “Achievement Award” for the best practice at PERYÖN Human Management Awards in the category of “Performance Management,”
- In the Automobile Distributors Association’s Gladiators of the Year Awards:
- Fiat Doblo, “Top Selling Light Commercial Vehicle” in 2014,
- Fiat, “Top Selling Light Commercial Vehicle Brand,”
- Maserati, “Fastest Growing Automobile Brand,”
- New Fiat Ducato, “Chorus of the Regretful” Best TV Commercial of the Year,
- Jeep, “Best Newspaper Commercial of the Year.”
2015 and beyond
In 2015, Tofaş will focus on projects for new models. In the first quarter, a revamped Fiat Doblo will be launched in the Turkish market, and in the final quarter, a new passenger car will start being manufactured. New product investments will add momentum to Tofaş’s production and exports, while their employment and export potential will make a positive contribution to the national economy.
KOÇ FIAT KREDİ
Koç Fiat Kredi provides consumer financing for the brands sold via Tofaş. The Company provided loans of TL 1,146 million for 39 thousand vehicles in 2014, thereby financing 64% of Tofaş’s retail sales. Its loan portfolio totaled TL 1,316 million in 2014.
Koç Fiat Kredi financed its lending by issuing securities with a total nominal value of TL 405 million, of which TL 215 million was obtained by security issuance.