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 2023 this amounted to TL 2.1 billion. (31 December 2022: TL 542.5 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 2023, TL 10.3 billion worth of credit was disbursed by the company in order to finance purchases of 27.9 vehicles. Koç Fiat Kredi finances 22% of Tofaş’s retail sales and its loan portfolio as of 31 December 2023 was worth TL 9.6 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 7.8 billion. The securities issued had a nominal value of TL 2.1 million. Koç Fiat Kredi’s A1+ Short-term national (TR) and AA Long-term national (TR) credit ratings were once again confirmed in 2023 with stable outlooks in both cases.

The company is upgrading its operational infrastructure both at headquarters and in dealerships with the latest in digital technology. A one-stop, self-service mobile app and an analogous online module that customers can use to apply for loans were also developed in tandem with the upgrade project. These were likewise commissioned last year as well.

Focused on digital transformation and end-to-end value creation, Koç Fiat Kredi is also continuing to move forward with its remote customer acquisition and robotic process automation projects. The company intends to continue its digital transformation journey, expand its agile-work model company-wide, attract talented people who create value, and maintain its competitive edge both by building on lessons learned from completed projects and by benefitting from new ideas and projects as they present themselves.

HIGHLIGHTS	2023
Outstanding Portfolio (TL million)	9,635.2
Penetration (excluding big fleet sales)	22%
Penetration (total Tofaş sales)	14%
Loan applications (units)	54,600
Financed units (total)	27,900
Financed units (Tofaş)	27,300
Financed units (2nd-hand + Iveco)	600
Financed amount (total) (TL million)	10,303.6
Profit before tax (TL million)	370.0

KOÇ FIAT SİGORTA

Koç Fiat Sigorta was established to keep pace with customers’ evolving automotive insurance expectations and to align with Tofaş’s mobility priorities within the automotive industry. The company’s goal is to provide an excellent end-to-end customer experience by broadly taking care of mobility-related and other insurance needs.

Though launched in 2022, Koç Fiat Sigorta quickly became a leading player in Türkiye’s automotive insurance market. With agreements with more than 15 insurers and working with a network of 50 dealers, the company was the largest agency in the sector as of end-2023. The company has also beefed up its sales, after-sales, claims, and customer-care center operations and processes so as to be certain of its ability to satisfy customers’ insurance needs.

FER MAS OTO TİCARET A.Ş.

Set up in 2005, Fer Mas represents the Ferrari and Maserati badges in Türkiye and provides both with after-sales services.

The sales figures of Ferrari and Maserati in Türkiye in 2023 were 39 and 533, respectively.

Ferrari

In 2023 Ferrari sold a total of 39 vehicles in Türkiye Last year Ferrari unveiled the Roma Spider, a V8-powered model, and also made the first deliveries of the Purosangue, a 4-door, 4-seater SUV that the company sees as ushering in a new era. Ferrari’s limited-edition supercar, the SF90 XX, was also introduced worldwide in 2023. This car is targeted for launch in the Turkish market in 2024.

Maserati

 Maserati sold 525 cars in 2023. The brand continued to conduct its sales and after-sales service operations through its Fermas dealership in İstanbul as well as through its Ankara Otokoç, Bursa Mengerler, and Antalya Otokoç dealerships.

Maserati’s MC20 Cielo, a convertible version of the next-generation, high-tech, ultra-light carbon fiber monocoque MC20 super sports car went on sale in Türkiye in 2023.

Maserati launched a 3,000 cc V6 petrol engine version of its iconic GranTurismo in 2023 and it went on sale in Türkiye the same year. The all-electric GranTurismo Folgore and a Folgore version of the popular Grecale luxury SUV are currently scheduled to go on sale in 2024.