Information about Tofaş’s related-party sales and purchases is provided in footnote 27 to the financial statements. Among Tofaş’s financial obligations is the carrying value of all bonds issued whether privately or publicly by Koç Fiat Kredi through related parties. As of 31 December 2021 this amounted to TL 490.9 million. (31 December 2020: TL 286.2 million.)

KOÇ FIAT KREDİ FİNANSMAN A.Ş.

Koç Fiat Kredi provides financial-solution services for all of the automotives brands as well as for the second-hand vehicles and spare parts etc offered for sale through Tofaş. With its ability to provide conventional customers with one-stop service without their having to leave the dealer’s premises as well as online and with its own operational strengths KFK provides individual and commercial customers with financing support. In 2021 approximately TL 4.8 billion worth of credit was disbursed by the company in order to finance purchases of 49,536 vehicles. Koç Fiat Kredi finances 55% of Tofaş’s retail sales and its loan portfolio as of 31 December 2021 was worth TL 4.37 billion. Last year Koç Fiat Kredi continued to fund this portfolio by means of bank loans and marketable security issues, the total value of both of which as of year-end was TL 3.2 billion. The securities issued had a nominal value of TL 490.9 million. Koç Fiat Kredi’s A1+ Short-term national (TR) and AA Long-term national (TR) credit ratings were once again confirmed in 2021 with stable outlooks in both cases.

In 2021, modernization project of the operational ICT In 2021 work began on a project to allow the management of the operational infrastructure used at company headquarters and in dealerships to be managed in micro-segmented. This will shorten additional development and maintenance processes and improve their productivity while also saving on license fee costs. The after-sales phase of this project is slated for completion in 2022.

As a company whose culture is focused on creating value and digital transformation, Koç Fiat Kredi is also seeking to extend an agile working model throughout the entire company in order to maintain its competitive edge and to attract value-creating employees.

HIGHLIGHTS	2021
Outstanding Portfolio (TL million)	4,373.2
Outstanding Financed (units)	68,872
Penetration (excluding big fleet sales)	54.9%
Penetration (total Tofaş sales)	38.0%
Loan applications (units)	126,483
Financed units (total)	49,536
Financed units (Tofaş)	47,361
Financed units (2nd-hand + Iveco)	2,175
Financed amount (total) (TL million)	4,809.6
Profit before tax (TL million)	175.4

 

FER MAS OTO TİCARET A.Ş.

Fer Mas was set up in 2005 as a subsidiary in which Tofaş controls a 99.4% stake. The company represents the Ferrari and Maserati badges in Turkey and provides both with after-sales services.

Ferrari

In 2021 Ferrari sold a total of 35 vehicles in Turkey. Ferrari introduced a special series of the 812 Competizione and an open-top version of the 812 Competizione A in 2021.

In 2021 Ferrari also introduced the 296 GTB, its first plug-in-hybrid model with a V6 engine. The car’s Turkish debut took place at Ferrari’s Kuruçeşme İstanbul showroom in August. Ferrari has sparked a singular revolution with the introduction of the 296 GTB, “the first real Ferrari with six cylinders”. This new engine type mounted in a Ferrari road-legal sports car generates a combined power output of 830 PS.

In November 2021 Ferrari launched the Daytona SP3, its third model in the Icona series that it introduced in 2018. This model, of which Ferrari says it is going to produce only 599 units, is equipped with a 4-liter V12 engine.

Maserati

The company’s Ankara Birmot, Bursa Mengerler, and Antalya Maserati showrooms and dealerships provide Maserati sales and services support in Turkey. In 2021 they sold a total of 101 automobiles.

In 2021 Maserati began production of the Levante Hybrid, a model that combines the technology of a hybrid electric vehicle with the exclusive features of a luxury SUV and it put the car on sale for the first time in Turkey in September. The Maserati Levante Hybrid combines a 4-cylinder, 2 liter engine with a 48V motor delivering a total of 330 Hp.