Koç Fiat Kredi provides financial-solution services for all of the automotive brands as well as for the second-hand vehicles and spare parts etc offered for sale through Tofaş.

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 privately by Koç Fiat Kredi through related parties. As of 31 December 2022 this amounted to TL 542.5 million. (31 December 2020: TL 490.9 million.)

KOÇ FIAT KREDİ FİNANSMAN A.Ş.

Koç Fiat Kredi provides financial-solution services for all of the automotive 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 and fast 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 2022, TL 4.52 billion worth of credit was disbursed by the company in order to finance purchases of 21,000 vehicles. Koç Fiat Kredi finances 21.5% of Tofaş’s retail sales and its loan portfolio as of 31 December 2022 was worth TL 4.80 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 4.12 billion. The securities issued had a nominal value of TL 542.5 million. Koç Fiat Kredi’s A1+ Short-term national (TR) and AA Long-term national (TR) credit ratings were once again confirmed in 2022 with stable outlooks in both cases.

In 2021 the company launched a project to update headquarters and dealership infrastructure so that operations can be managed more effectively at the individual-unit level. This project is intended to shorten additional development and maintenance processes and make them more productive while also generating savings in licensing fees. Another goal is to leverage Koç Fiat Kredi’s recruitment of a next-gen workforce. The first two phases of the project, both dealing with after-sales processes, were completed in 2022. Pre-sale processes will be dealt with in the third and last phase of the project, planned to get under way in 2023. Another project paralleling the modernization project and concerned with a one-stop self-service mobile app that allows customers to take care of all of their business on their own was also completed in 2022.

Embracing a corporate culture that focuses on value-creation and digital-transformation, Koç Fiat Kredi is currently working on remote customer-acquisition and robotic-process automation projects compatible with that culture. 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	2022
Outstanding Portfolio (TL million)	4,802.4
Outstanding Financed (units)	47,686
Penetration (excluding big fleet sales)	21.5%
Penetration (total Tofaş sales)	13.4%
Loan applications (units)	55,630
Financed units (total)	21,018
Financed units (Tofaş)	20,062
Financed units (2nd-hand + Iveco)	956
Financed amount (total) (TL million)	4,516.8
Profit before tax (TL million)	256.1

KOÇ FIAT SİGORTA

The “Koç Fiat Sigorta” initiative that arose in line both with anticipated developments in customers’ automotive-industry expectations and with Tofaş’s own mobility priorities was transformed into a new business unit and Koç Fiat Kredi subsidiary under the oversight of the Tofaş Mobility Solutions Division.

Koç Fiat Sigorta is a good example of how inhouse entrepreneurship can create brand-new business lines for Tofaş. With the launch of this subsidiary, Tofaş has taken an important step in line with its vison of delivering end-to-end excellence in the customer experience by offering insurance coverage for their mobility as well as other needs. With the potential to become Turkey’s biggest insurance agency, Koç Fiat Sigorta will be providing customers with whatever mobility-related insurance products and services they may need through Tofaş’s nationwide dealership network and other channels. Through its Customer CareCenter, Koç Fiat Sigorta will be able to provide policy-related information the moment a claim arises and to stand by customers throughout the claim-resolution process. Koç Fiat Sigorta will also be looking to play a role in the creation and development of future mobility-insurance products and services.

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.

The sales figures of Ferrari and Maserati in Turkey in 2022 were 44 and 314, respectively.

Ferrari

In 2022 Ferrari sold a total of 44 vehicles in Turkey. In 2022 Ferrari showed off the Ferrari 296 GTS, a plug-in hybrid sports car with a V6 engine. Deliveries of Ferrari’s limited-edition Competizione sports car were also made last year.

2022 was also the year in which Ferrari unveiled the first four-door, four-seater SUV in its 75-year history: the Ferrari Purosangue. The first deliveries of this high-performance vehicle with an iconic Ferrari V12 engine and featuring best-in-class handling characteristics will begin in 2023.

Maserati

The company’s Ankara Otokoç, Bursa Mengerler, and Antalya Otokoç showrooms and dealerships provide Maserati sales and services support in Turkey. In 2022 they sold a total of 314 automobiles.

Sales of the Grecale, a new Maserati mild hybrid SUV, began in 2022. Sales of a new GranTurismo that was introduced in October 2022 are scheduled to begin in 2023. This icon of the Maserati badge is going on sale with both internal-combustion and innovative electric solutions. Two versions of the new GranTurismo–a coupe and a cabriolet (convertible)–will be equipped with a V6 Nettuno engine while a third–the GranTurismo Folgore–will come with an all-electric battery-based powertrain. The Maserati MC 20 Cielo, a cabriolet version of the badge’s MC 20 next-generation supercar, was given its global unveiling in 2022.

In 2022 Fer Mas services relocated to new premises in İstanbul Vadi Koru. In their new home, a dedicated 375 m2 area has been set aside for the exclusive use of Ferrari and Maserati customers. There is also a 1,200 m2 body & paint repairs shop and a 1,125 m2 mechanical repairs shop.