Our company’s transactions with its related parties are presented in the note 27 of the financial report.

KOÇ FIAT KREDİ FİNANSMAN A.Ş.

Koç Fiat Kredi offers consumer financing for the brands sold by Tofaş. In 2019, the Company’s total loan portfolio stood at TL 2 billion with TL 1.6 billion provided for the purchase of around 28 thousand cars during the year, financing 45% of Tofaş’s retail sales. Koç Fiat Kredi continued to fund its growing loan portfolio through bank loans and issuances of securities. The total sum of these resources amounted to TL 1.8 billion as of the end of 2019. The securities issued had a nominal value of TL 190 million.

In 2019, the Company’s national short-term credit rating was confirmed as (TR) A1+ and its long-term national credit rating as (TR) AA.

Forward-looking expectations Koç Fiat Credit aims to continue increasing efficiency in operational business processes with its advanced technology based projects which it plans to develop in 2020. In addition, it will implement its customer road map structure, which has been created by focusing on improving the end-to-end all credit processes of its end customers through customer / risk modeling activities based on data analytics.

HIGHLIGHTS	2019
Outstanding Portfolio (TL million)	1,974.8
Outstanding Financed (units)	60,942
Penetration (excluding big fleet sales)	44.7%
Penetration (total Tofaş sales)	30.7%
Loan applications (units)	117,655
Financed units (total)	28,231
Financed units (Tofaş)	24,133
Financed units (2nd-hand + Iveco)	4,098
Financed amount (total) (TL million)	1,589.20
Profit before tax (TL million)	69.2

 

FER MAS OTO TİCARET A.Ş.

Founded in 2005, Fer Mas Oto Ticaret A.Ş. both represents and provides after-sales services for Ferrari and Maserati automobiles in Turkey. Tofaş controls a 99.4% stake in the company.

Ferrari

In 2019, a total of twenty Ferraris were sold in Turkey.

In Ferrari’s Testa Rossa awards program, which recognizes various categories of “best performers” among Ferrari dealers throughout the world, Fer Mas placed in the top three among 240 participants worldwide in the “Aftersales Services: Aftersales Services Manager” category as well as in the top twelve among close to a thousand participants in the “Master Technician” category.

Replacing the 488 GTB and representing the current pinnacle of Ferrari engineering prowess, the F8 Tributo was shown off at the 2019 Geneva Motor Show. Last year Ferrari also unveiled the SF90 Stradale, its first mass-produced sportscar to feature PHEV (Plug-in Hybrid Electric Vehicle) architecture and to be equipped with four-wheel drive. At Universo Ferrari, the first event dedicated exclusively to Ferrari in its hometown, 2019 witnessed the launch both of the F8 Spider and of the 812 GTS, the latter being an open-top version of the Ferrari 812 Superfast. The Ferrari F8 Spider was also introduced here in Turkey last year. Late 2019 saw the introduction of the Ferrari Roma, a GT hardtop coupe powered by an award-winning V8 engine in its namesake city and Italy’s capital, Rome.

Maserati

Opening their doors for the first time in 2017, the Ankara Birmot, Bursa Mengerler, and Antalya Maserati showrooms & dealerships are the mainstays of the Maserati sales and services network in Turkey. In 2019 they sold a total of 48 cars.

A variety of events, sponsorships, and joint undertakings were organized last year to promote the Maserati badge and help increase its visibility and prestige.