Annual Report • Feb 28, 2025
Annual Report
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MEILLER
WIELTON
| 128 CORPORATE GOVERNANCE REPORT |
|---|
| 136 GENERAL INFORMATION |
| 144 APPENDIX 1. STATEMENT OF |
| RESPONSIBILITY ON FINANCIAL |
| REPORTS |
| 145 APPENDIX 2. INDEPENDENT AUDITORS' |
| REPORT RELATED TO ANNUAL REPORT |
| 147 APPENDIX 3. INDEPENDENT |
Volkswagen strengthened its SUV segment with the launch of its first fully electric SUV, the ID.4, while its flagship EV, the ID.7, entered the market at yearend. Audi expanded its electric portfolio with the long-range Q4 e-tron. CUPRA introduced its first fully electric model, the Born, along with the SUV model Terramar, in the second half of the year. Porsche updated its Taycan model and launched the electric Macan, further diversifying its EV lineup. Volkswagen Commercial Vehicles debuted its first fully electric model, the ID. Buzz, in September. Meanwhile, Škoda, which achieved its highest-ever sales in Türkiye in 2024 and strengthened its market position day by day, is preparing to make a strong entry into the EV market with new models set to launch in spring 2025. Looking ahead, I anticipate that Volkswagen Group's expanding EV lineup will bring our total EV offerings to between 20 and 25 models in the coming years.
As we celebrate the 30th anniversary of Doğuş Otomotiv, we look back on a highly successful year with pride and joy. Reaching this significant milestone has given us the opportunity to reflect on the remarkable journey we have undertaken in what is, for a company of this scale, a relatively short period. It has also allowed us to reaffirm the values that have brought us together as a large family to this day and to share our future vision and expectations with all our stakeholders.
The automotive market, which began the year with cautious forecasts, significantly outperformed expectations. By year-end, total sales reached 1,216,609 units, far exceeding the initial estimates of around 750,000-800,000 units. Several factors contributed to this surge, including demographic trends, the extension of GSR2 regulations, increases in the special consumption tax-exempt vehicle limits, and consumers bringing forward their purchasing decisions in anticipation of upcoming tax hikes. Regardless of the underlying reasons, and while considering economic fluctuations, I firmly believe the automotive market will maintain an upward trajectory in the coming years.
2024 was another strong year for Doğuş Otomotiv. We achieved an 8.3% year-on-year increase in total vehicle sales. Our passenger car market share rose to 16.5%, while sales of light commercial vehicles grew by approximately 26% and heavy commercial vehicles by around 3% compared to 2023.
This success was driven not only by our diverse brand and vehicle portfolio but also by our unwavering commitment to customer satisfaction and service excellence. At Doğuş Otomotiv, we prioritize customer satisfaction and thus create "loyal customers" over conventional success metrics like market share or segment leadership. Every step we take to enhance customer satisfaction naturally translates into greater market presence and sales achievements.
Electric vehicle (EV) sales in Türkiye grew by 46% in 2024 compared to the previous year, reaching 105,315 units. One in every ten cars sold was electric. The increasing number of available models, coupled with the entry of Chinese brands into the Turkish market, accelerated this shift. For Doğuş Otomotiv, 2024 was a pivotal year in the EV segment. Many of our brands diversified their product portfolio by launching new electric models.
The transition to EVs is widely recognized as the most significant trend shaping the global automotive industry. Challenges that once hindered EV adoption -such as range limitations, battery production capacity, raw material supply, battery costs, and specialized workforce availability- are rapidly being overcome. Notably, when our Golf model was introduced in 1974, it had a range of only 470 km. We won't have to wait long for similar developments in EVs; in 2018, the maximum driving range was 550 km, but battery innovations have since increased this by over 50% in just five years.
Currently, the global vehicle fleet stands at approximately 1.6 billion and is projected to reach 2 billion by 2030 with an annual growth rate of 2%. In contrast, the EV market is expected to expand at a much faster pace at around 30%, with EV numbers soaring from today's 7.2 million to 78 million by 2030. Governments worldwide are promoting EV adoption as part of their environmental goals and policies. According to a study by Boston Consulting Group, the share of hybrid and electric vehicles in total sales in Europe is expected to rise to 62% by 2035.
The automotive industry is transitioning from a model focused on selling and servicing technologically advanced products to a mobility industry that provides diverse solutions to meet people's needs for convenient, fast, reliable, and cost-effective transportation. With the increasing prevalence of smart city concepts that combat pollution and congestion while integrating sustainable energy and mobility at their core, transportation needs and solutions will inevitably evolve. As technology's impact on transportation grows significantly, concepts such as connected and autonomous vehicles and vehicle networks will redefine the automotive industry.
Recognizing this transformation as inevitable, both traditional industry players and major technology, software, and telecommunications companies are making significant investments to meet the shifting demands of the market. Increasingly connected vehicles will make travel easier, less stressful, safer, and more sustainable. As products transform into platforms, a broader ecosystem involving multiple stakeholders and partners will emerge. This transformation, which will fundamentally alter the industry's existing dynamics, will also lead to a profound shift in business practices.
Progress in sustainability and the fight against the climate crisis can only be achieved through robust infrastructure and widespread adoption of sustainable business models, making a meaningful impact in the corporate world. In line with our sustainability strategy, Doğuş Otomotiv made a strong entry into the EV charging market in 2023 with the launch of our subsidiary, D-Charge. Within a short period, D-Charge expanded to 34 cities with 350 charging sockets, securing the 10th position among 175 charging station operators in Türkiye. By 2025, we aim to extend our network to 48 cities and double our charging sockets.
Porsche, the first automotive brand in Türkiye to establish its charging network, continued its investments in 2024, further expanding its service coverage. Additionally, we expanded our Battery Repair Centers in 2024, building on the first center established at the Doğuş Oto Kartal venue. We also launched a Battery Disposal Project to facilitate battery recycling and continued training our Authorized Service teams to support EV maintenance. Through these initiatives, we are not only advancing industry sustainability goals but also leading the transition to a low-carbon future.
We have received numerous national and international awards. While achieving many firsts in the industry, we have also made significant contributions to our stakeholders, investors, and Türkiye›s social and economic development, aligning with sustainable growth objectives.
Most importantly, throughout this journey, our people-centric philosophy, mutual trust, and unwavering excitement embodied in our motto, «we achieved this together!» have remained steadfast. Our company›s success has been made possible by the dedication and commitment of our invaluable business partners, our colleagues who work with unwavering loyalty as if this were their own company, and certainly the collective dedication and contributions of the management and employees of the brands we represent.
Now, as we navigate a period of significant transformation, we are ready to carry forward the success we have achieved as a team built on love, respect, and trust. At Doğuş Otomotiv, every new workday is an opportunity to redesign the future. While doing so, we will continue to preserve the strengths we have cultivated over 30 years and the core values embedded in our DNA. These include our customer-centric approach, our commitment to digital transformation and mobility strategy, our emphasis on transparency, our dedication to a competent and satisfied workforce, and our collaborative mindset in working with business partners.
One of the most vital components of the foundation we have built is our loyal customer base. The experience we have accumulated over 30 years and the values we uphold give us the confidence and courage to look toward the future of the automotive industry with optimism. For three decades, we have been driven by the excitement of delivering solutions beyond the dreams and expectations of automotive enthusiasts of all ages, totaling 10 million today.
Over the past 30 years, we have continuously improved and set industry benchmarks, with our work being recognized as exemplary by Volkswagen AG. Entering the Turkish automotive market with just a 0.5% market share, we are now among its largest players. During this period, our manufacturer and longterm partner Volkswagen AG -whose distribution agreement with us has been renewed indefinitely- has grown into a global powerhouse with a market value of \$63.5 billion. For over 25 years, we have stood alongside this industry giant as a strong partner. In 30 years, we have served 10.8 million customers and delivered 2.65 million vehicles. From a modest showroom, we have expanded to 271,265 square meters of showroom space and 517,412 square meters of service facilities, with the capacity to service 6,500 vehicles simultaneously.
At Doğuş Otomotiv, we aim
to redefine ourselves in this changing world - not merely as a brand that sells and services vehicles but as a provider of mobility solutions. As a sustainable company with the most competent workforce, the most innovative business models, and a strong commitment to future investments, we are preparing not just to follow but to lead this accelerating transformation. We see digital transformation as a fundamental pillar of our corporate culture and the success achievable through collective intelligence. To date, we have implemented projects in process automation, artificial intelligence applications, machine learning, data analytics, and agile project management. Additionally, we have undertaken numerous initiatives to enhance our employees' digital competencies. As a flexible, resilient, and lifelong-learningoriented team that adapts to change and generates original ideas, we are committed to continuous self-improvement. We actively support our human resources with new perspectives and specialized positions in emerging business models while ensuring they acquire new knowledge and skills without interruption.
With a strong corporate structure built on human resources, a learning organization philosophy, rapid adaptability to innovation, and a robust network of authorized dealers and business partners who have stood by us from the very beginning, we will continue to write and share the story of our passion with enthusiasm - just as we have in the past.
I take great pride in stating that we owe our remarkable success story to the deeply rooted Doğuş Group culture, our unwavering determination, and our clear vision for the future. The legacy we have inherited will be passed on to future generations with the new values we create.
As we conclude another successful year, on behalf of the Doğuş Otomotiv Executive and Board of Directors, I sincerely thank all our stakeholders for their support and, most importantly, their belief and dedication.
With my best regards,
Doğuş Otomotiv aims at delivering ultimate customer satisfaction as number one priority in providing services, and boasts one of Türkiye's widest Authorized Dealer and Aftersales Service network.
Doğuş Otomotiv, one of the leading players of the Turkish automotive industry, ranks among the top most admired and trusted brands in Türkiye thanks to its dynamic, customer satisfaction focused service approach.
Plus in Galataport İstanbul. Founded in 2023, D-Charge aims to install and operate charging units in every region of Türkiye. Doğuş REIT, which joined Doğuş Otomotiv in 2023, has a wide real estate portfolio consisting of Doğuş Center Maslak, D-Ofis Maslak, Doğuş Etiler Sports Center, Gebze Center AVM, Gebze Center Hotel and Gebze Center Automotive Showroom and Service.
Doğuş Otomotiv adopts unconditional customer satisfaction as the number one priority in its services, and has one of the widest Authorized Dealer and Aftersales Service networks in Türkiye. More than 720 customer touch points across the country offer Doğuş Otomotiv's customers seamless, widespread sales, aftersales, and spare parts services. Through the Value and Interest Centre (DIM) founded in 2014 within the framework of customer satisfaction efforts Doğuş Otomotiv provides its customers road assistance on a 24/7 basis.
Doğuş Otomotiv is one of the most important players of the Turkish automotive industry with more than 2,000 employees. The brands that Doğuş Otomotiv distributes rank among the top most admired and trusted brands in Türkiye thanks to their dynamic, customer satisfaction focused service approach.
Since its initial public offering in 2004, Doğuş Otomotiv shares are traded at Borsa Istanbul (BIST) with
Doğuş Otomotiv has continued to be one of Türkiye's largest automotive companies in 2024. Doğuş Otomotiv prepares its business plans driven by the vision of "creative service beyond expectations", and determines its corporate strategy on the goal of "operating with a focus on customer satisfaction". Doğuş Otomotiv boasts the widest brand and service network in Türkiye in its industry segment.
Doğuş Otomotiv is the representative of 16 international brands and 17 affiliated product groups, many of which are leaders in their respective sectors, in the fields of passenger cars, light commercial vehicles, heavy vehicles, industrial and marine engines, and cooling systems. Doğuş Otomotiv offers private and corporate customers Volkswagen Passenger Cars, Audi, SEAT, CUPRA, Škoda, Bentley, Lamborghini, Porsche, Volkswagen Commercial Vehicles, Scania, Meiller, Thermo King, Wielton, Novamarine, Aerofoils, MATE.Bike brands as well as a wide array of more than 80 models by these brands.
The Company also competes in the industrial anad marine engines market with the Scania Power Solutions and Doğuş Marine Services. Doğuş Otomotiv has been serving second-hand customers with the DOD brand for 20 years. As of October 2021, the Company opened the customer experience center named Doğuş Otomotiv
the ticker symbol "DOAS. IS". The Corporate Governance Rating score of Doğuş Otomotiv has further increased, reaching 9.79 in 2024 (2023: 9.76).
Doğuş Otomotiv, which builds all of its business processes in line with its environmental and social responsibility approach, released its first Corporate Sustainability Report in 2009, which also happened to be a first in Türkiye in this sector. Doğuş Otomotiv went on to undersign the UN Global Compact in 2010. Doğuş Otomotiv is listed in the BIST Sustainability Index in 2024.
Doğuş Otomotiv established the "Traffic is Life!" social participation platform in 2004 in order to positively increase the general responsibility, awareness and perception of traffic in society. For 20 years, the projects realized within the scope of the "Traffic is Life!" platform have received numerous awards.
Doğuş Otomotiv is a member of Doğuş Group, active in eight major industries including automotive; construction; media; hospitality; real estate; energy; and technology. With over 300 companies and over 22,000 employees, the Group serves its customers with advanced technologies, highest brand quality and a dynamic human resource.
* Excluding Škoda
Doğuş Group, with more than 300 companies and 22 thousand employees from diverse backgrounds, operates in eight major industries with specific dynamics, including automotive; construction; media; hospitality; real estate; energy; and technology.
The common denominator of this diversity is always people as the focus of each individual industry. Understanding the expectations of the younger generation and provide more space for them are among our key priorities.
The synergy created by our group companies fosters the 'Doğuş' brand. And 'Doğuş 3.0' is our culture, driven by vast information and data, focused on creating new, agile experiences, and built on the principles of sustainability and collaboration.
Since 1951, we have launched and funded a variety of initiatives to improve society, always led by the vision of our founder Ayhan Şahenk, to serve the country. We leverage our social responsibility platforms to address sustainability as a multi-dimensional topic in both our companies and the Group and develop projects that create value.
We aim to use available resources consciously by recognizing our responsibility for next generations while ensuring our social, environmental and financial sustainability. Our Group's DNA is made up of dreaming, believing, creating brands, and turning experiences into legendary tales.
We collaborate with respected businesses to market the most valuable Turkish brands internationally and to introduce our people to the top global brands. Our global business partners include major companies such as Volkswagen AG and TÜVSÜD in automotive, Hyatt International Ltd. and The Peninsula Hotels Group in tourism, the international Azumi Group, the parent company of Roka, Zuma, and Oblix in food & beverage, Paraguas Group and the parent company of Amazonico, Ten Con Ten, and El Paraguas. With our comprehensive range of services,
in-depth expertise, and extensive global network, we engage in activities that are advantageous to society and the local economy.
We strive with all our might to contribute to the local economy by creating and providing employment and regard it as our duty to drive social and economic development.
CEO & Chairman
Emir Ali Bilaloğlu, a graduate of the Faculty of Engineering at Berlin Technical University, began his career in 1991 as Financial Control and Regional Sales Manager at Audi AG headquarters in Germany. In 2000, he joined Doğuş Otomotiv, overseeing Business Development and Strategy. The following year, he moved to the United Arab Emirates, where he served as the Founding General Manager of Audi AG in Dubai. After returning to Türkiye in 2004, Bilaloğlu was appointed General Manager for the Audi and Porsche brands at Doğuş Otomotiv. In June 2007, he became the company's Chief Executive Officer (CEO), and at the 2017 Annual General Assembly Meeting held on March 29, 2018, he was unanimously elected Chairman of the Board of Directors. He currently serves as both Chairman of the Board and Chairman of the Executive Board. In addition, Bilaloğlu is Chairman of the Board of Doğuş Oto Pazarlama, a subsidiary of Doğuş Group, and a Board Member at Doğuş Holding, Yüce Auto, Volkswagen Doğuş Finans (vdf), and Doğuş New Ventures and Projects (InvenDO). Beyond his corporate roles, he served as Vice President of the Automotive Distributors' and Mobility Association (ODMD) from 2011 to 2018 and as its President from 2018 to 2022. He is also a member of the Turkish-German Business Council Executive Board at the Foreign Economic Relations Board (DEİK), which provides consultancy on foreign economic relations.
Deputy Chairman of the Board of Directors
Mr. Gür Çağdaş graduated from the Faculty of Political Sciences at İstanbul University in 1983 and completed his master's degree at the Institute of Business Economics of the same university in 1985. Mr. Çağdaş started to work as an Investment Specialist at Eczacıbasi Securities in 1986, after which he founded VakifBank İstanbul Securities Center in 1988 and served as the director of this institution until 1990. Mr. Çağdaş joined Doğuş Group in 1990 and acted as the Capital Markets Group Manager at United Turkish Gulf Bank, Assistant General Manager at Garanti Securities, Inc. and Garanti Investment and Trade Bank, and successively as General Manager, Deputy Chairman of the Board of Directors, and Chairman of the Board of Directors at Garanti Asset Management, Inc. As of January 1, 2016, Mr. Çağdaş has been appointed to Doğuş Holding as the Advisor to the Chairman and a Member of the Board of Doğuş Group Companies. Having served as the President of the Turkish Institutional Investment Managers' Association (TKYD) between 2007 and 2014, he represented Türkiye at the European Fund and Asset Management Association (EFAMA). Mr. Çağdaş acted as a Member of the Board of Directors at the Corporate Governance Association of Türkiye (KYD) between 2013 and 2014 and as Vice President between 2015 and 2018. He is still a Member of the Board of Directors of Doğuş Holding as of 2019, along with his duties as a Member of the Board of Directors, Chairman, and Vice Chairman in Doğuş Group companies. Mr. Çağdaş started his duty as a Member of the Board of Directors at Doğuş Otomotiv Servis ve Ticaret A.Ş. in 2016 and continues to serve as an active Member of the Board of Directors as of this date. In addition to his role as a Board Member, he serves as a Committee Member in the Early Risk Detection Committee and the Corporate Governance and Sustainability Committee.
Board Member
A graduate of Boğaziçi University Mechanical Engineering, Harvard Business School (AMP), and Virginia Commonwealth University (MBA), Mr. Koray Arıkan served as Country Manager and Representative at JP Morgan Bank for 23 years. He has particularly extensive experience in investment banking, wealth management, corporate governance, and family businesses. Mr. Arıkan assumed the Head of the Privatization Department at the Turkish Prime Ministry between 1989 and 1991 after working as a Project Engineer and Consultant in the USA between 1983 and 1989. After his move to Doğuş Group in 2014, Mr. Arıkan continues to serve as the Chairman of the Board of Directors of Doğuş Energy, Advisor to the Board of Directors of Doğuş Group, Vice Chairman of the Board of Directors of Pozitif Companies, and as a Board Member of Doğuş Finansal ve Ticari Yatırım Danışmanlık A.Ş. Mr. Arıkan is currently a Member of the Board of Trustees of Boğaziçi University and has also held the post as a member of the Board of Directors of the Harvard Business School MENA Research Center (2014-2019) and the Eisenhower Fellowship Board of Trustees (2018-2020). Mr. Arıkan took an active role in various positions including Board Memberships in private sector companies and many non-governmental organizations and served as the President of the Boğaziçi University Alumni Association between 2003 and 2005. Mr. Arıkan, the Regional President of The Propeller Club of the US, is married and has two children. Having started to serve as a Board Member at Doğuş Otomotiv Servis ve Ticaret A.Ş. in 2018, he has actively held this position since then. In addition to his role as a Board Member, he serves as a Committee Member in the Early Risk Detection Committee and the Corporate Governance and Sustainability Committee.
Özlem Denizmen Kocatepe earned her undergraduate degree in Industrial Management from Cornell University and obtained her MBA from MIT Sloan School of Management. She furthered her education by completing the Influence Techniques program at Stanford, the Leadership program at the GE Crotonville Center, and the Advanced Management program at Harvard Business School. Since 2000, Denizmen Kocatepe has taken on various roles in Strategy, Budget Planning, Business Development, and Investor Relations at Doğuş Group and currently serves as a Board Member of Doğuş Automotive Since 2000, Denizmen Kocatepe has held various roles in strategy, planning, budgeting, business development, and investor relations at Doğuş Group. She is currently a member of Doğuş Otomotiv's Board of Directors. In the realm of community service, she is the founder of the Financial Status Personal Finance Social Initiative and the Financial Literacy and Access Association (FODER). Recognized as a Young Global Leader by the World Economic Forum, she served as the first representative from Türkiye on the Board of the Global Reporting Initiative (GRI) from 2014 to 2020. Currently, she is the founding president of Mon.AI Financial Planning. Denizmen Kocatepe began her Board Membership at Doğuş Otomotiv Servis ve Ticaret A.Ş (Doğuş Automotive Service and Trade, Inc.) in 2006 and has actively maintained this role since. In addition to her Board Membership, she also serves as a committee member on the Remuneration and Nomination Committee.
Board Member
After completing her Bachelor of Business Administration and Master of Organizational Behavior at the University of Ottawa, Ms. Adalet Yasemin Akad worked as the Head of the Training and Promotion Group at the Banks Association of Türkiye, followed by the position of Assistant General Manager in Charge of Human Resources first at Osmanlı Bank, then at İş-Tim Telekomünikasyon A.Ş. (Aria). In 2004, she established her consultancy firm and provided consultancy services to many companies in various sectors on subjects such as training, change management, and human resources management. Ms. Akad, who acted as the Human Resources and Corporate Management Systems Group Director of Rixos Hotels between 2009 and 2012, held the Executive Board Member in charge of Human Resources position at Carrefoursa between 2012 and 2014. Since 2014, she has served as the Executive Board Member in charge of Human Resources at Netaş Telekomünikasyon A.Ş. and as a member of the Board of Directors of Netaş's subsidiaries; Netaş Bilişim Teknolojileri A.Ş., BDH Bilişim Destek Hizmetleri San. Tic. A.Ş., and NETRD Bilgi Teknolojileri ve Telekomünikasyon A.Ş. Having also acted as a member of the Board of Directors of Kron Telekomünikasyon Hizmetleri A.Ş., she has been working on Human Resources and Corporate Sustainability Strategies since 2021. Ms. Akad started serving as an Independent Board Member at Doğuş Otomotiv Servis ve Ticaret A.Ş. in 2018 and has actively held this position since then. In addition to her role as an Independent Board Member, she serves as Committee Chairman of the Corporate Governance and Sustainability Committee and Remuneration and Nomination Committees, and as a Committee Member of the Audit Committee.
Adalet Yasemin AKAD
Independent Member
Born in Safranbolu in 1955, Adnan Memiş spent his childhood in Azdavay, Şırnak, Varto, Bergama, Kınık, Emirdağ, Suruç, Besni, and Diyarbakır. After graduating from Kuleli Military High School, he earned his undergraduate degree from the Istanbul University Faculty of Economics and completed his postgraduate studies at the Business Economics Institute. Memiş began his professional career at Elginkan Holding in 1977 before joining Garanti Bank in 1978. Over the years, he held various roles, including Inspector, Deputy Representative in Germany, and Accounting Group Manager. In 1985, he took on senior management responsibilities as Credits Manager and was appointed Deputy General Manager in May 1991. He later served as a Board Member and Chairman. From 2001 until his departure from the bank in September 2015, he led the Financial Restructuring Working Group at the Banks Association of Türkiye, overseeing the implementation of the program known as the Istanbul Approach. Currently, Memiş is a High Advisory Board Member at the Darüşşafaka Society, where he previously served as a Board Member from 2008 to 2014. He is also a Board of Trustees Member at the Contemporary Life Support Foundation and an Advisory Board Member at the Business Economics Institute. In addition, he chairs the Board of Directors of Raya Consultancy, Inc. and leads the Lace Project, which encompasses books, documentaries, and events centered on his needle lace collection. He also heads the Starfish Project Group, which established an educational campus in Darıca, including a secondary school and four high schools, through a collective effort. As part of his role as an Independent Board Member at Doğuş Otomotiv Servis ve Ticaret A.Ş. (Dogus Automotive Service and Trade, Inc.), Memiş also serves as the Chairman of the Audit Committee and the Chairman of the Early Risk Detection Committee.
Independent Member
Vehicles with lower tax rates in the A, B, and C segments accounted for 85.7% of the passenger car market, with the C segment holding the largest share at 55.4%. SUVs were the most preferred body type, making up 56.8% of sales. Gasoline-powered vehicle sales led with 60.1% (588,914 units), followed by hybrid vehicles at 18.8% (184,177 units), electric vehicles at 10.7% (105,315 units), diesel vehicles at 9.8% (95,985 units), and LPG vehicles at 0.6% (5,950 units). Electric vehicle sales increased by 46% compared to 2023.
TÜİK (Turkish Statistical Institute) data shows that used car sales in 2024 rose by 2% year-on-year, reaching a record 7,103,550 units. This figure marks a historic record, as second-hand car sales in Türkiye surpassed 7 million units for the first time.
The world closed 2024 amid global economic vulnerabilities, geopolitical crises, and political uncertainties. Key events defining the year included the Ukraine-Russia conflict, tensions in the Middle East, a government change in Syria, and Donald Trump's re-election as U.S. President. The negative impact of rising energy and food prices, particularly on developing economies, the resurgence of trade wars, concerns over energy security and access to strategic resources reshaping the global economic order, and the damages caused by the climate crisis were among the main challenges of 2024.
Despite continued tight monetary policies to combat inflation, global growth remained balanced. The International Monetary Fund (IMF) revised its global growth forecasts for 2024 and 2025 to 3.2% during the year. Data indicates that the fight against global inflation has yielded significant results; however, price pressures persist in some countries.
Türkiye is projected to close 2024 with lower-than-expected growth due to ongoing tight monetary policies and the strain of persistently high inflation. The inflation rate for 2024 was recorded at 44.38%. The Central
Bank of the Republic of Türkiye (CBRT) raised the policy interest rate to 50% in March 2024 and maintained it for eight months before lowering it to 47.5% in the final days of the year. In December, Fitch Ratings highlighted that Türkiye's economic policy adjustments had significantly reduced external vulnerabilities and improved market perception. Standard & Poor's (S&P) upgraded Türkiye's long-term credit rating from B+ to BB- in November and revised the credit outlook from "positive" to "stable."
The total global automotive market is expected to reach 91.8 million units in 2024, with light vehicles accounting for 88.6 million, according to forecasts by GlobalData Plc. S&P Global Mobility also predicts that, despite some downward revisions in electric vehicle expectations, EVs will remain a key growth driver for the automotive sector, with global electric passenger vehicle sales projected to increase by 30% to 15.1 million units by 2025.
Total vehicle sales in Türkiye in 2024 amounted to 1,216,609 units (2023: 1,237,070), including 925,256 passenger cars (2023: 931,142), 258,106 light commercial vehicles (2023: 267,462), and 33,247 heavy commercial vehicles (2023: 38,466).
| 2024 | 2023 | Change | |
|---|---|---|---|
| Passenger Vehicles | 925,256 | 931,142 | -1% |
| Light Commercial Vehicles | 258,106 | 267,462 | -3% |
| Heavy Commercial Vehicles | 33,247 | 38,466 | -14% |
| TOTAL | 1,216,609 | 1,237,070 | -2% |
While the automotive sector showcased strong performance in 2024, Doğuş Otomotiv also marked its 30th anniversary with historical achievements in sales, profitability, investments, and sustainability goals.
As in previous years, Doğuş Otomotiv's key priorities in 2024 included digitalization, electric mobility, sustainability, customerfocused process improvements, operational efficiency, and optimal profitability. The company views digital transformation as a necessity not only to enhance service quality and improve business processes but also to meet carbon neutrality targets. Consequently, Doğuş Otomotiv continued to accelerate its investments in IT software development and digital initiatives throughout 2024.
The digital transformation objectives encompass various processes, including sales, aftersales services, and marketing, as
well as operations such as the Value and Care Center (DIM) and Spare Parts and Logistics. In 2024, a total of 119 digital projects were completed using technologies such as RPA, IoT, ERP, web/mobile applications, machine learning, artificial intelligence, and GenAI. With recent advancements, artificial intelligence and big data technologies are expected to have a transformative impact on the automotive sector in the upcoming period. Doğuş Otomotiv continued
The automotive sector, which started the year with low expectations due to global economic fragilities and political uncertainties, surprisingly achieved the highest sales figures in Türkiye's history in 2024. Celebrating its 30th anniversary this year, Doğuş Otomotiv recorded an 8.3% increase in vehicle sales compared to the previous year, benefiting from favorable market conditions. The company achieved growth rates of 6.3% in passenger vehicles, 26.1% in light commercial vehicles, and 3.3% in heavy commercial vehicles.
which commenced operations in 2024, quickly became a significant player in the charging station market, reaching 350 sockets across 34 provinces in Türkiye.
Porsche, the first car brand in Türkiye to establish a charging station network, added 165 stations in 2024, with a total investment of 480,000 euros. Additionally, over 2,000 charging units were installed for Porsche Taycan users at their homes and workplaces free of charge. Two new battery repair centers were opened in 2024, the "On-Road Charging" Project was launched, and the Battery Disposal and Recycling Project was initiated in line with sustainability goals.
Doğuş Otomotiv considers its sustainability understanding, based on continuous improvement, efficiency, risk management, stakeholder engagement, and respect for the environment, as a prerequisite for its long-term presence and success. The company's sustainability management model aims to minimize environmental impacts, manage its social sphere of influence comprehensively and strategically, and implement robust governance practices. Since 2021, Doğuş Otomotiv has published an Integrated Sustainability Report and became one of the first companies to report in accordance with the European Sustainability Reporting Standards (ESRS) in 2024. The company received a score of 9.79 on the BIST Corporate Governance Index for 2024, ranking among the best-performing companies in Türkiye.
Volkswagen Passenger Cars continued to develop new projects in 2024 to adapt to changing customer expectations and to fully digitalize its sales and service processes. One such
to provide extensive training and informational seminars in 2024 to enhance its workforce in data science and machine learning, improving employees' digital competencies. Eighteen individuals graduated from the Data Science Program designed in partnership with Doğuş Teknoloji in 2024. All sixteen projects initiated as part of the Data Roadmap were successfully implemented in 2024. Additionally, a data-focused workshop was conducted at the end of the year to identify projects based on the needs of business units. Two of the generative artificial intelligence projects developed in-house received IDC and AWS Awards.
Electric vehicles, crucial for the green transformation in mobility, also represent the future of the automotive industry. In 2024, marked by accelerated electric vehicle adoption, sales in Türkiye increased by 46% compared to 2023, reaching 105,315 units. During the year, the brands represented by Doğuş Otomotiv launched numerous electric models in the market. Furthermore, Doğuş Otomotiv continued its investments in infrastructure and after-sales services to meet the other requirements of the electric vehicle ecosystem. D-Charge,
Established within Doğuş Otomotiv in 2023 to build and operate charging stations, D-Charge became one of the major players in the charging stations market in 2024.
Video Wall technology. Digital showrooms improved access to vehicle information through digital information stands instead of printed materials, reducing the company's carbon footprint. In 2024, Škoda digitized 32 service points, and its website won the Silver Award in the Consumer Information category at the Horizon Interactive Awards.
In 2024, Porsche focused on software infrastructure integrations with Porsche AG in order to increase process efficiency. Within the scope of improving customer experience, enhancements to the Porsche Mobile application continued.
Development efforts for the Volkswagen Commercial Vehicles website continued uninterrupted. A dedicated page for fleet customers was created, and the VWTogether mobile application, developed for distributors, Authorized Dealers and Service teams of Volkswagen Commercial Vehicles, was launched.
"Volkswagenim" (My Volkswagen) mobile application, achieving 100% digitization in value-added processes for customers. As a result, the mobile application reached an average of 52,000 active users per month and approximately 4,000 service appointments per month in 2024.
SEAT accelerated the digitalization of all its service processes, implementing the Warranty RPA project to automate business processes and the Hot Alert project for customer satisfaction management. In 2024, the Customer Complaint Prediction project was launched, utilizing artificial intelligence and machine learning technologies for Authorized Services.
Škoda prioritized enhancing customer experience through digital tools aligned with its brand strategy. Through this initiative, consumers can view Škoda models not present in the showroom in high resolution using
project, "Unreachable Lead Records", was created to prevent losing customers who provide information through the website and social media but cannot be reached during initial calls. An automated SMS process enabled users to verify their data, resulting in re-engaging 8% of unreachable customers and directing them to a Volkswagen Authorized Dealer.
In 2024, significant developments were made across various digital channels for the electric vehicle customer base with the introduction of electric models for sale for the first time. New content was created for potential audiences and electric vehicle customer base under the "Electric Vehicles" section added to the website menu. Functions such as "Charging Time Calculation", "Range Calculation", and "Cost Calculation" for electric models were launched. In After-Sales Services, new functions were added to both the Volkswagen Passenger Cars website and the
2024, the brand expanded to a total of 30 sales points, initiating sales operations in Adana, Çorum, Eskişehir, Malatya, and Tekirdağ through Authorized Dealer investments.
SEAT achieved total retail sales of 12,470 units in 2024. The Ibiza model secured the seventh position in its segment with 2,074 units sold, while the Arona captured a market share of 2.8% with sales of 4,879 units in its segment. The Ateca, positioned in the compact SUV segment, achieved 4,142 units sold with a market share of 1.4%, and the Leon in the compact hatchback segment sold 1,087 units, representing a market share of 2.8%.
In 2024, Škoda reached its highest sales figure in Türkiye's history, achieving a total of 43,972 units sold during its growth journey. The renewed and updated product range has significantly contributed to this sales success. The brand increased its total sales by over 25%, achieving a market share of 4.5%. Türkiye has now entered the top three markets with the highest sales volumes in the brand's global sales. Offering a wide portfolio with seven main models, Škoda's best-selling model in Türkiye for 2024 was the Octavia, with
D segment with a market share of 72.4% in 2024. Golf maintained its leading position in the C-Hatchback segment, increasing its sales by 9.4% compared to 2023. Thanks to the contributions of Tiguan and ID.4, Volkswagen Passenger Cars achieved a 69.1% increase in sales within the C-SUV segment, reaching a total of 14,639 units. Additionally, T-Cross boosted its sales in the B-SUV segment by 15.3%, totaling 8,990 units.
Audi Türkiye reached a sales figure of 19,700 units in 2024. The Audi Q4 e-tron, which emerged as the winner of the EcoC1 test in the 2024 edition of the ECOBEST Challenge conducted by the independent international organization AUTOBEST, became available for sale in August.
In 2024, the CUPRA brand recorded total sales of 9,633 units. The CUPRA Formentor emerged as one of the most preferred models in the compact SUV segment, achieving retail sales of 6,987 units and a segment share of 2.4%. In the second half of the year, the New Formentor, New Leon, and the brand's first fully electric model, Born, along with the new flagship SUV model, Terramar, were launched. With the opening of the CUPRA City Garage in Galataport İstanbul in
The "Scania'm Cepte" application (Scania Mobile App), which facilitates easy access to Scania services, reached approximately 16,250 downloads in 2024. Furthermore, the "Scania Authorized Dealer Report", enabling real-time data analysis for all Authorized Dealers, was implemented this year. Scania Türkiye became the first brand among Doğuş Otomotiv brands to obtain the Information Technologies and Communication Authority certification for connected vehicles.
Volkswagen Passenger Cars has launched a total of six models in 2024, including four new and two facelifted models (Golf, T-Cross). The ninth-generation Passat was introduced in March, followed by the third-generation Tiguan in April. The year concluded with the launch of the ID.4, the brand's first fully electric SUV, and the sedan variant of the Volkswagen ID. Family, the ID.7, which became available in showrooms. In February, the T-Cross, a successful representative of the Volkswagen SUV family, was launched, followed by the facelifted Golf, the brand's best-selling model globally, in August. The successful Passat continued to dominate the
The ninth generation of the Passat, which has sold over 34 million units worldwide since 1973, was launched in 2024.
market in 2024, achieving sales of 22,435 units despite a 2.7% contraction in the market. The brand captured an 8.7% share of the light commercial vehicle market and ranked third in the imported commercial vehicle market with an 11.8% market share. The Amarok model secured a 21.1% market share, placing second in its segment, while the Transporter model also placed second in its segment with a 17.0% share. The Caddy model achieved a sixth position with a 13.1% share, and the Crafter model reached a market share of 3.2%. The ID. Buzz, Volkswagen Commercial Vehicles' first fully electric model, was launched on Turkish roads at the end of September, marking a significant step in Volkswagen's transition to an emissions-free future. The new Transporter Panel Van was launched for sale in Türkiye for the first time in December.
Scania achieved a market share of 8.6% in 2024, with sales totaling 2,868 units, leading the imported heavy-duty vehicle market. Throughout the year, the brand introduced vehicles compliant with the GSR2 regulation, which mandates advanced safety features, along with new electric powertrains and drivetrains.
11,616 units sold, followed by the Kamiq with 9,280 units. The Škoda Kodiaq, one of the most preferred models in the SUV segment, was renewed and launched for sale in August 2024.
Bentley Motors introduced the fourth generation of its successful Continental coupe series in 2024, equipped with a plug-in hybrid engine. The new Continental GT, the most powerful Bentley ever produced, delivers 782 HP and 1,000 Nm of torque, initially available in the Speed version.
Porsche achieved significant success in 2024 by reaching 1,203 units sold for the first time. The compact SUV model Macan played a crucial role in this success, with a sales performance of 629 units, marking a 27% growth. Including the Taycan, Panamera, Macan, and 911, Porsche renewed its entire model family in 2024 and launched four new models. The introduction of the 100% electric Macan in October and the renewal of the Taycan led to an increase in the proportion of electric models in sales, with total electric vehicle sales reaching 530 units.
Volkswagen Commercial Vehicles demonstrated remarkable growth in the light commercial vehicle
Porsche's compact SUV model Macan, which was renewed in 2024, played an important role in Porsche's record sales by reaching a sales performance of 629 units.
The New Scania SUPER, which consumes up to 8% less fuel than the previous generation, continued to be a preferred choice among customers due to its lower carbon emissions. The model has garnered the "Green Truck" award for the ninth time in independent tests.
In 2024, Thermo King delivered the first units of the Advancer A500 model to the Turkish market, which boasts the strongest cooling capacity available. The innovative technology of the Thermo King A500 Series maximizes fuel efficiency, reducing operational costs for businesses and contributing to sustainability.
After resuming sales in Türkiye last year, Meiller added the hydraulic cover half-pipe semi-trailer tipper model to its product range in 2024. Similarly, Wielton, which signed a distribution agreement in 2023, concluded the year with 145 trailer sales.
Volkswagen Passenger Cars continued to provide service support at 81 locations for its customers. In 2024, a total of 537,134 vehicles were serviced at the brand's Authorized Service Centers, averaging 44,761 customers served monthly.
2024 ANNUAL REPORT
Authorized Service Centers. According to data announced by Volkswagen AG, Volkswagen Commercial Vehicles After-Sales Services Türkiye ranked first in customer surveys conducted across 32 countries in criteria such as "Satisfaction with Attention Given", "Satisfaction with Organizational Processes", "Satisfaction with Quality of Work", and "Overall Satisfaction". Through the 'Volkswagen Commercial Vehicles Mobile Service' privilege, maintenance and express services were provided to 1,350 customers at their locations throughout Türkiye in 2024.
Scania Türkiye operates with 12 Authorized Dealers and 17 Authorized Service Centers nationwide. In 2024, the number of vehicles serviced at Scania Authorized Service Centers increased by 15%. Throughout the year, training for all employees at Scania authorized dealers and service points was completed. In line with its commitment to an environmentally friendly and sustainable future, Scania Türkiye launched the "Environment-Friendly Dealer" project in 2023. This initiative promotes the use of renewable energy, carbon footprint measurement, and participation in eco-friendly
In 2024, Porsche's customer loyalty initiatives and efforts in Porsche service, Porsche accessories, boutique, and aftersales marketing led to an increase of 183% in service revenues and 41% in accessory sales. The General Customer Satisfaction score for Porsche services exceeded the target.
Expansion efforts at Doğuş Oto Maslak Service included increasing capacity for electric vehicle repairs. In 2024, the "Porsche Business Excellence" processes were completed at the Arca Bursa and Başaran Antalya Authorized Service Centers. To meet the needs of the rapidly growing electric vehicle fleet, three new high-voltage battery repair centers were opened at Doğuş Oto Maslak, Vosmer Bornova, and Arca Bursa, bringing the total number of repair centers to six. The number of High Voltage Specialists also increased to 11 during the year.
Volkswagen Commercial Vehicles continued to provide services at 69 Authorized Dealers and 80 Authorized Service Centers across Türkiye in 2024. The brand achieved an annual total of 139,325 vehicle entries and an average of 11,610 monthly entries at Volkswagen Commercial Vehicle
With exemplary practices in aftersales services, Audi Türkiye set a record in 2024 by servicing 189,436 vehicles at Authorized Service Centers. The brand also achieved an increase of 34.5% in accessory sales and 37.5% in Audi boutique sales. Throughout the year, Audi Türkiye continued its efforts to increase renewable energy usage in collaboration with all stakeholders. The number of Audi authorized dealers and services converted to renewable energy under Doğuş Otomotiv's Solar Energy System (GES) project has been steadily increasing.
In 2024, SEAT Authorized Service Centers, operating at 49 locations across Türkiye, served an average of 8,450 customers per month, with 101,400 vehicle entries the highest number to date, including approximately 29,500 CUPRA vehicles. Customer loyalty was supported through newly implemented customer retention projects. The CUPRA Customer Delight concept, aimed at creating a quality service experience, was launched in 2024, featuring the CUPRA Tribe and various privileges through the CUPRA Promise packages. The customer experience survey score in aftersales services reached 4.85 out of 5, placing it at the top globally.
Consuming up to 8% less fuel compared to the previous generation, the New Scania SUPER continued to be the choice of customers in 2024 with less carbon emissions.
practices across Authorized Dealers and Service Centers nationwide. Currently, 35% of these points meet their energy needs from renewable sources.
Thermo King has introduced a maintenance contract project in 2024 aimed at extending equipment lifespan, minimizing the risk of failures, and enhancing operational efficiency. The brand has also continued its training programs for service and sales teams at its Authorized Dealers and Service Centers to improve service quality.
Meiller, which resumed operations in the Turkish market, has increased its network by adding two new Authorized Dealers and Authorized Service points in the second half of 2024, bringing the total number to 11 across the country. Meiller has also implemented training programs aimed at enhancing the technical knowledge and competencies of its employees, conducting specialized training sessions for sales and service consultants.
Wielton entered the market in March 2024 with 14 Authorized Dealers and has expanded its network to 16 by the end of the year. In addition, a distribution agreement was signed with
Aberg Service Sp. Zo.o. in May, allowing for warranty, spare parts, and repair services to be offered through Authorized Service Centers at 15 locations.
Doğuş Oto maintains a strong and stable position in the industry with 28 Authorized Sales and 26 Authorized Service points across four regions: Ankara, Esenyurt, Kartal, and Maslak, supported by a workforce of over 1,100 employees. In 2024, the company achieved remarkable performance with the sale of 46,126 new vehicles, 2,329 used vehicles, and 206,659 service entries.
In 2024, the "CUPRA City Garage İstanbul" was launched at Galataport İstanbul, and a training facility was opened at Doğuş Oto Kartal, while the Maslak DOD Venue underwent modernization. The company accelerated its digital process development initiatives with a customercentric approach. Under data governance projects, efforts were made to improve data quality and effectively manage data assets across the organization. Doğuş Oto successfully completed 52 digital process development projects, enhancing operational efficiency and customer experience. The company introduced "D-One
Start", an efficiency-boosting and environmentally friendly fleet management solution tailored for businesses.
In 2024, Doğuş Oto achieved significant success in various national and international competitions, winning first place in the Škoda Challenge Competition, the Audi Sales Cup, and the CUPRA One of Us Awards, all of which were awarded domestically. The company also received the SEAT Authorized Dealer Award for the highest increase in spare parts sales and ranked first in Porsche Türkiye accessory sales. Doğuş Oto also secured second place in the Porsche International PCEE Sales Competition. Additionally, the company received two awards at the Golden Spider Awards for its revamped website and won the "Best Employers 2024" award by Kincentric.
Doğuş REIT reported an increase in visitors to its Gebze Center Mall, with approximately 12.3 million visits in 2024, up from 11.5 million in 2023. The occupancy rate at Gebze Center Mall exceeded 99% by the end of the year due to new leases. As of the end of 2024, the total value of Doğuş REIT's investment property portfolio amounted to 14.8 billion
In 2024, Doğuş Oto opened the 10th City Garage location of the CUPRA brand in Galataport İstanbul.
TRY. In 2024, rental income from properties reached 801.57 million TRY, operating profit amounted to 1.009 billion TRY, and net profit stood at 978.18 million TRY.
In December 2024, the company publicly shared its Sustainability Report, fully aligned with international standards. The Corporate Governance Compliance Rating of Doğuş REIT rose from 9.53 in 2023 to 9.58 in 2024.
Spare Parts and Logistics successfully imported 142,793 vehicles and delivered 186,226 vehicles to Authorized Dealers in 2024, concluding the year with a turnover of 10,740.2 million TRY from spare parts and accessories sales.
To ensure smooth operations, Spare Parts and Logistics utilized advanced technologies and continued its digitization efforts under Industry 4.0 in 2024. The implementation of AI-supported image processing technology commenced in 2024 with the ship unloading process, with ongoing infrastructure work aimed at extending this technology to all vehicle logistics processes. The "Smart Shipment Tracking Project", utilizing IoT (Internet of
Things) technology, was launched in 2023 and expanded in 2024 to encompass 69 dealers and 18 routes. In December 2024, the pilot phase of the "Authorized Service Spare Parts Center Order and Stock Planning Project" was initiated.
The used car market experienced a slowdown in 2024, during which DOD achieved total sales of 19,096 units through 62 authorized dealers operating across 29 provinces. Vehicles under the umbrella of Doğuş Otomotiv brands accounted for 53% of total sales. Throughout the year, continuous vehicle supply was ensured for the Authorized Dealer network. In collaboration with vdf Fleet Management, nine auctions were held specifically for DOD Authorized Dealers, resulting in the sale of 570 vehicles.
In 2024, a reporting system was developed for the Vehicle Recommendation System, launched in 2023 to provide alternative used vehicle suggestions based on a datadriven system for users searching for vehicles on the brand's digital platforms. The "DOD Online Auction Platform", previously held using a sealed-bid method, was renamed the "DOD Open Auction Platform" at the end of 2024, incorporating an open bidding option. This increased competition led to the sale of 56 vehicles across 14 auctions.
The Quality Standards Procedure for the Authorized Dealer network was updated, and 42 of the 62 authorized dealers were aligned with the new corporate identity in 2024. The DOD organization, with the participation of Authorized Dealers such as Aykan Gebze, Eçal Sancaktepe, Erçal Bornova, Erçal Çatalca, and Lena Bodrum, expanded to 62 sales points across 29 cities.
Doğuş Marine Services expanded its sales portfolio in 2024 by signing two new distribution agreements with Novamarine, a premium and professional boat brand in the maritime world, and Aerofoils, a provider of high-tech e-foil products.
Initially starting operations in Göcek, Doğuş Marine Services expanded its activities with a new service point in Didim and opened another in 2024 at D-Marin Turgutreis. The company also achieved its objectives in 2024 by partnering with Scania Power Solutions, which provides marine, industrial, and generator engines.
D-Charge made a strong entry into the electric vehicle charging network market in May 2024 and continued expanding its technology and service network throughout the year. By reaching 350 sockets across 34 provinces, the brand climbed to 10th place among 175 charging station operators. A major milestone in this journey was the launch of the next-generation D-Charge mobile application, developed by Doğuş Teknoloji, on November 1. With its user-friendly interface and advanced features, the application received great enthusiasm, reaching 9,700 downloads and 7,000 members in a short time. It enables users to easily locate charging stations, manage their charging sessions, and monitor real-time charging status.
Operating in all 81 provinces of Türkiye with 216 fixed, 75 mobile, 7 motorcycle, and 18 mobile tractor inspection stations, TÜVTÜRK achieved significant growth across all service areas in 2024, particularly in periodic vehicle inspections. The company increased its revenue by 61.8%, from 12.1 billion TRY to 19.6 billion TRY. As Türkiye's most impactful public-private partnership project, TÜVTÜRK has contributed 43.3 billion TRY to the public sector since its inception, with 15.8 billion TRY of this amount recorded in 2024 alone. In
support of traffic safety, TÜVTÜRK approximately 12.5 million vehicles 3.9 million vehicles in 2024.
conducted periodic inspections for and exhaust gas emission tests for
Investment efforts to enhance vehicle inspection capacity and service quality continued uninterrupted throughout 2024. A total investment of approximately 199 million TRY was made for three new fixed inspection stationsnamely İstanbul Yüzüncü Yıl, Gaziantep Karataş, and Giresun Görele Çavuşlu-as well as three new motorcycle inspection stations located in Antalya Kepez, İstanbul Haramidere, and İstanbul Göztepe.
With TÜVTÜRK's support, the Traffic Responsibility Movement, coordinated by the Ministry of Transport and Infrastructure, has reached approximately 1.5 million people through field training activities and 9.2 million people through communication efforts since its launch in 2010. Additionally, the "Smart Children of the City" project, initiated in collaboration with the MAPFRE Foundation in 2021-2022, continued to make an impact. By the end of 2024, a total of 124,248 students, 248,496 parents, and 4,245 teachers across 800 schools had participated in the project's "Smart Children Will Build the Smart Cities of the Future" thematic event.
Holding an average 20% penetration rate in vehicle loans for VW Group brands, vdf (Volkswagen Doğuş Finance) issued 33,356 new loans in 2024, reaching a total of 37,338 active loans and successfully meeting its targets. The company's total active loan volume stood at 23.398 billion TRY.
As the largest insurance agency in Türkiye in terms of total net premium production and active policies, vdf Insurance maintained its leading position in 2024. The company generated 4.7 billion TRY in total net premiums and increased its total policy count to 383,000.
Providing financial solutions to 110 Doğuş Otomotiv and Yüce Otomotiv Authorized Dealers across Türkiye, vdf Factoring reached a total transaction volume of 187.3 billion TRY and total assets of 3 billion TRY in 2024. The company financed purchases made by 19 group companies from 145 suppliers and established a new partnership with Borusan Makina.
As of 2024, vdf Fleet Management oversees 11,000 active contracts, with 55% of its fleet consisting of Doğuş Otomotiv Group brand vehicles. The company further enhanced its digital solutions through investments in robotic process automation and ERP applications during the year.
In 2024, DOD's sales totaled 19,096 units with 62 DOD Authorized Dealers operating in 29 provinces.
Doğuş Marine Services expanded its portfolio by signing distributorship agreements with two important brands of the maritime world in 2024.
In analyzing and interpreting the Company's financial standing and results, the financial information below should be considered along with other financial information included in the Consolidated Financial Statements and Footnotes.
* Short term loans, short-term portions of long-term loans, long-term loans, cash and equivalent have been taken into consideration.
** Tangible asset entries have been taken into consideration.
| Sales Units (Wholesale) | 2024 | 2023 | Change |
|---|---|---|---|
| Passenger Vehicles | 163,726 | 153,960 | 6% |
| Volkswagen | 75,634 | 71,846 | 5% |
| Audi | 20,433 | 23,132 | -12% |
| SEAT | 12,369 | 11,089 | 12% |
| CUPRA | 10,366 | 10,315 | 0% |
| Škoda | 43,726 | 36,274 | 21% |
| Porsche | 1,139 | 1,246 | -9% |
| Bentley | 37 | 36 | 3% |
| Lamborghini | 22 | 22 | 0% |
| Light Commercial Vehicles | 22,500 | 17,842 | 26% |
| Volkswagen | 22,500 | 17,842 | 26% |
| Heavy Commercial Vehicles | 2,868 | 2,775 | 3% |
| Scania | 2,868 | 2,775 | 3% |
| TOTAL | 189,094 | 174,577 | 8% |
| Doğuş Otomotiv Market Share (Retail) * | 14.9% | 13.7% | 1.2% P |
| Used Car Sales (DOD) | 19,096 | 18,229 | 5% |
| * Including Škoda |
| 2024 | 2023 | Change | |
|---|---|---|---|
| Consolidated Income Statements | |||
| Sales / Unit (Wholesale, excl. Škoda) | 145,368 | 138,303 | 5% |
| Sales (mio TRY) | 188,375 | 215,478 | -13% |
| Gross Profit (mio TRY) | 30,232 | 46,389 | -35% |
| Operating Expenses (mio TRY) | -13,989 | -7,939 | 76% |
| Selling and Marketing Expenses (mio TRY) | -5,001 | -4,599 | 9% |
| General Administrative Expenses (mio TRY) | -9,873 | -7,054 | 40% |
| Warranty Expenses, net (mio TRY) | -823 | -864 | -5% |
| Other Operating Expenses, (Income) net (mio TRY) | 1,708 | 4,577 | -63% |
| EBIT (mio TRY) | 16,244 | 38,449 | -58% |
| EBITDA (mio TRY) | 18,448 | 40,205 | -54% |
| Income from Investment Activities, net (mio TRY) | 585 | 912 | -36% |
| Income/Loss from Investments Accounted by Equity Method (mio TRY) |
-878 | 5,661 | -116% |
| Net Financial Expenses (mio TRY) | -1,944 | -7,495 | -74% |
| Net Profit for the Period (mio TRY) | 7,643 | 28,532 | -73% |
| Earnings Per Share | 34.70 | 141.61 | -75% |
| Price/Earnings Ratio | 5,6 | 1,6 | 259% |
| Gross Profit Margin (%) | 16.0% | 21.5% | -5% P |
| Operating Expenses/Sales (%) | 7.4% | 3.7% | 4% P |
| EBIT Margin (%) | 8.6% | 17.8% | -9% P |
| EBITDA Margin (%) | 9.8% | 18.7% | -9% P |
| Net Profit Margin (%) | 4.1% | 13.2% | -9% P |
| Consolidated Statements of Financial Position | |||
| Total Assets (mio TRY) | 92,209 | 97,985 | -6% |
| Cash and Cash Equivalents (mio TRY) | 9,414 | 11,036 | -15% |
| Trade Receivables (mio TRY) | 15,853 | 18,595 | -15% |
| Inventories (mio TRY) | 15,410 | 15,376 | 0% |
| Tangible and Intangible Non-current Assets (mio TRY) | 20,889 | 17,675 | 18% |
| Right of Use Asset (mio TRY) | 179 | 91 | 96% |
| Investments in Equity Accounted Investees (mio TRY) | 9,408 | 12,293 | -23% |
| Financial Investments (ST+LT) (mio TRY) | 3,311 | 6,683 | -50% |
| Net Financial Debt* (mio TRY) | 2,691 | 4,529 | -41% |
| Trade Payables (mio TRY) | 14,335 | 12,302 | 17% |
| Provisions (mio TRY) | 3,889 | 4,664 | -17% |
| Total Equity (mio TRY) | 55,739 | 60,416 | -8% |
| Net Working Capital (mio TRY) | 15,628 | 21,319 | -27% |
| Net Cash Position (mio TRY) | -1,978 | -3,416 | -42% |
| CapEx** (mio TRY) | 3,797 | 2,192 | 73% |
| Receivable Turnover (day) | 31 | 31 | 0% |
| Inventory Turnover (day) | 36 | 33 | 7% |
| Payable Turnover (day) | 33 | 27 | 25% |
| ROA (%) | 8.3% | 29.1% | -21% P |
| ROE (%) | 13.7% | 47.2% | -34% P |
| Net Debt/ EBITDA | 14.6% | 11.3% | 3% P |
| Net Financial Debt/Equity | 4.8% | 7.5% | -3% P |
Note: The underlying data for the consolidated financials in the Annual Report has been presented in accordance with the format of the financial statements dated 31.12.2024.
EBIT MARGIN (%) NET PROFIT (mio TRY) NET PROFIT MARGIN (%)
** Includes tangible asset entries.
investors and enhancing the Company's foreign institutional investor portfolio.
The Investor Relations Department maintained a proactive approach in 2024. In addition to the periodic information meetings mentioned above, four virtual Analyst and Investor Days were organized on different dates, providing briefings on the Company's activities. To reach foreign investors, informative emails were sent to over 500 institutions as part of a targeted and strategic investor outreach. The department engaged with more than 200 foreign institutions based in cities such as Amsterdam, Boston, Cape Town, Chicago, Frankfurt, Hong Kong, Johannesburg, Copenhagen, London, Miami, Milan, Monaco, New York, San Francisco, Singapore, Stockholm, and Tokyo through video or conference calls, providing updates on the Company's activities and latest developments.
In this context, the 'Investor Relations Activities and Investor Relations Strategic Plan' prepared by the Department is submitted to the Corporate Governance and Sustainability Committee for approval. Additionally, a periodic 'Investor Relations Activities Information Presentation', summarizing all activities throughout the year, is provided for the Committee's review. A comprehensive 'Investor Relations Annual Report' is also prepared and presented to the Board of Directors annually. Furthermore, daily and weekly reports are consolidated and periodically presented to the Board of Directors by the Chief Financial Officer.
Investor Relations Department
The Company's Investor Relations Department carries out relations with shareholders.
Investor Relations Assistant Manager and Corporate Governance and Sustainability Committee Member Yavuz Arda Yıldız Capital Market Activities Level 3 License (925504) and Corporate Governance Rating Expertise License (925505)
Investor Relations Assistant Specialist Beyza Gül Toklu Capital Market Activities Level 1
License (928397)
Phone: (+90-262) 676 90 58-59 Fax: (+90-262) 676 7665 E-mail: yatirimciiliskileri@ dogusotomotiv.com.tr
The Investor Relations Department is responsible for regularly disclosing information to shareholders and potential investors regarding the Company's operations, financial standing, and strategies. It also addresses requests for information, excluding publicly undisclosed or confidential information and trade secrets, ensuring that communication does not create information disparities. This department establishes a two-way bridge based on communication and trust between the Company and its existing and potential investors.
Throughout 2024, the Investor Relations Department has responded to shareholder inquiries and requests promptly via phone,
To ensure continuous communication with stakeholders, the Company has organized its online roadshow events. Through video and teleconference meetings conducted on MS Teams, Zoom, Webex, and Closir, the Company engaged with over 500 investors and analysts to discuss its performance, operations, and future outlook. Additionally, four multi-participant teleconferences and webinars were held to provide analysts and investors with updates on the Company's quarterly financials.
In 2024, as part of efforts to expand the Company's foreign institutional investor portfolio, participation in a non-deal roadshow in London was secured, where meetings were held with six investment funds. Key topics discussed during the event included macroeconomic expectations, electrification and mobility initiatives, the performance of affiliates and subsidiaries, future outlook, dividend distribution potential, and the sustainability of profit margins. These meetings represented a significant step in fostering effective communication with potential
13.7%
47.2%
2023 2024
2023 2024
stated that each share carries one vote and that no shareholder groups have preferential voting rights. The Company does not have any cross-ownership arrangements that would create a controlling relationship with another entity.
There were no violations of basic shareholder rights, such as participation in the General Assembly or proxy representation. No upper limits were imposed on voting rights, and special attention is given to the protection of minority rights. The Articles of Association do not include provisions for minority shareholder representation in management or cumulative voting.
As of December 31, 2024, the Company's shareholding structure is as follows, with no privileged shares.
Our company's profit distribution policy is determined in accordance with the procedures and principles outlined in Articles 24, 25, and 26 of the Articles of Association, titled "Determination and Distribution of Profit", "Timing and Method of Profit Distribution, Dividend Advance", and "Legal Reserves", respectively, as well as the Turkish Commercial Code, the Capital Markets Law, and other relevant legislation. This policy takes into account the state of the national economy and the sector, balancing the expectations of our
in the Articles of Association,
Article 438 of the Turkish Commercial Code (TCC) states: "Each shareholder may request the General Assembly to clarify specific matters through a special audit, even if they are not on the agenda, provided that exercising shareholder rights requires it and the right to obtain information or review has already been utilized. If the General Assembly approves the request, the Company or any shareholder may apply to the Commercial Court of First Instance in the Company's registered location within 30 days to appoint a special auditor". However, no such requests were made during the reporting period. The Company's operations are periodically audited by an independent auditing firm appointed at the General Assembly.
All Company shares are bearer certificates and do not grant any rights to Company profits. The Articles of Association do not provide any privileges regarding voting rights. Voting rights are exercised at the General Assembly in accordance with representation and voting regulations. The Company fully complies with the Capital Markets Board regulations on proxy voting, ensuring that all shareholders can vote equally, conveniently, and fairly. The General Assembly disclosure documents provide information on the Company's share structure, voting rights, and the absence of voting privileges. It is explicitly
Details on the topics below are available on the Public Disclosure Platform and in the Disclosures of Material Information section of our website.
02.01.2025 - Regarding the Appointment of HR Director 20.01.2025 - Doğuş Bilgi İşlem ve Teknoloji Hizmetleri AŞ - Capital Increase 05.02.2025 - Regarding The Independent Board Member Candidates 12.02.2025 - Financial Calendar - 2024 - Annual
As of December 31, 2024, there were no changes in the Company's issued share capital. During the reporting period, the Company did not increase its capital or issue any capital market instruments.
Comprehensive retrospective and continuously updated information and disclosures that may impact the exercise of shareholder rights are available to investors on Doğuş Otomotiv's official website, www. dogusotomotiv.com.tr, in both Turkish and English.
Although the right to request the appointment of a private auditor is not explicitly regulated
| Partner's Trade Name | Share in Capital (TRY) |
Share in Capital (%) |
|---|---|---|
| Doğuş Holding A.Ş. | 133,099,708 | 60.50% |
| Doğuş Sigorta Aracılık Hizmetleri A.Ş. | 292 | 0.0% |
| Public Shares | 86,900,000 | 39.50% |
| Total | 220,000,000 | 100% |
The payment of the declared dividends will be made in cash and/or as bonus shares.
The distribution date will be determined by the Board of Directors based on the date regulated by legislation following the General Assembly.
The General Assembly may grant the Board of Directors the authority to distribute a dividend advance. The Board of Directors may distribute a dividend advance, limited to the year in which it was granted and the authority received, taking into consideration the state of the national economy and the sector.
Our Company distributed a dividend advance in September 2024. Detailed information about the dividend advance is provided
shareholders with the needs of the Company. There are no privileges regarding profit participation in our Articles of Association. Profit distribution is decided by the General Assembly based on a proposal prepared by the Board of Directors, considering the principles outlined below. Accordingly, the profit share to be distributed to shareholders is as follows:
Provided that the rate and amount determined by the Capital Markets Board are reserved, if there are no negative circumstances that could affect the Company's activities given the sectoral and national economic conditions, at least 50% of the distributable profit calculated according to Capital Markets legislation will be distributed. A different rate or amount may be presented to the General Assembly after the Board of Directors' assessment.
in the table titled "Dividend Distribution Information by Year" presented below.
The decision regarding the distribution of the profit and loss for the 2023 fiscal year, as outlined in the profit distribution table, was approved at the Ordinary General Assembly Meeting held on April 16, 2024.
Our Company's Articles of Association do not contain practices that hinder shareholders from freely transferring their shares, nor do they include provisions that restrict share transfers. We avoid any practices that would complicate the free transferability of shares. The transfer of shares is conducted in accordance with the relevant provisions of the Capital Markets Law, Capital Markets Regulations, and the Turkish Commercial Code. Our Company's shares are not listed on foreign stock exchanges.
* Distribution of institutional foreign investor shares by country/region. Foreign institutional investors trading through Turkish resident institutions are also included in this breakdown.
System (EGKS), and the corporate website.
Out of 220,000,000 shares corresponding to 220,000,000 TRY of capital, a total of 162,581,168 shares were represented at the Ordinary General Assembly Meeting, of which 38,917 were represented in person, 144,100,000 by proxies, and 18,442,251 by the representatives of the depositors.
At the Ordinary General Assembly on April 16, 2024, shareholders exercised their rights to direct questions as outlined in relevant legislation, and these questions were answered immediately. Each agenda item was voted on individually, and votes were counted and announced before the meeting concluded. The meeting chairman ensured that the topics on the agenda were
media, was made in due time and in accordance with the Articles of Association and as required by law. The announcement, along with the meeting agenda, was published in the Turkish Trade Registry Gazette No: 11047 on March 20, 2024 (correction dated March 21, 2024 and numbered 11048). The Company also presented the financial statements, the annual report, independent audit reports, and the Board of Directors' proposal for profit distribution, as well as disclosures and statements required by law and Corporate Governance Principles. All of these documents were made available for shareholders to review under Article 437 of the Turkish Commercial Code No. 6102 on the same date via the Public Disclosure Platform (KAP), the Electronic General Assembly
The Ordinary General Assembly Meeting to review 2023 activities was held on April 16, 2024, at 10:00 AM at the following address: Maslak Mahallesi, Ahi Evran Caddesi (Doğuş Center Maslak) No: 4, Flat No: 3, Sarıyer, Istanbul.
To encourage shareholder attendance, the meeting was held both at the Company's headquarters and via the Electronic General Assembly System, aiming to minimize inequalities among shareholders and reduce the costs associated with their participation.
The call for the General Assembly Meeting, which was open to stakeholders and members of the
* Represents the amounts that would be reached if the entire distribution is paid net, after deducting a 10% withholding tax .
** Refers to the dividend paid in the following period for the relevant years.
*** Refers to the dividend payment made from the distributable resources in the balance sheet, as decided during the Extraordinary General Assembly Meeting held on November 20, 2023.
continuous exchange of assets, services, and obligations between the Company and related parties, as well as the collaterals, pledges, and mortgages that were given in favor of third parties, with details included in the Annual Report and the notes in the Consolidated Financial Statements. The same information can also be found on the following corporate website: http://www.dogusotomotiv.com. tr/en/investorrelations/investorrelations/corporate-governance/ subsidiariesand-affiliates/ transactions-withrelated-parties. In a separate agenda item, information was provided about the amount and the beneficiaries of the donations and support extended during the reporting period. During this period, no changes were made to the Company's Articles of Association.
No Extraordinary General Assembly Meeting was held in 2024.
whether to permit shareholders with management control, Board Members, managers with administrative responsibilities, their spouses, and relatives by blood or marriage up to the second degree to conduct significant transactions that may cause conflicts of interest with the Company or its affiliates, and/ or conduct transactions on behalf of themselves or a third party in the same field of activity as the Company or its affiliates, or become an unlimited shareholder in a business operating in the same field of activity as the Company or its affiliates. During the 2024 reporting period, no transactions of such nature occurred, and the Board of Directors remained uninformed about any transactions carried out by individuals with privileged access to company information within the company's designated scope of operations.
Pursuant to the provisions of the CMB Communiqué No. II-17.1, the General Assembly was
conveyed objectively and in detail in a clear and comprehensible manner, providing an opportunity for the shareholders to express their opinions and raise questions on equal ground. The meeting chairman also ensured that all questions raised by shareholders during the meeting, which did not fall into trade secrets, were answered directly at the General Assembly. The questions posed and answers given during the meeting were recorded in the meeting minutes and disclosed to the public on the Company's corporate website. The shareholders did not submit any written requests to the Investor Relations Department regarding the addition of any items to the meeting agenda. General Assembly Meeting minutes are always made available to shareholders on the Company's website and can also be viewed at the Company headquarters.
The agenda of the General Assembly Meeting included as a separate item the matter of
| Dividend | 2024 (Dividend Advance) |
2023** | 2023*** | 2023 (Dividend Advance) |
|
|---|---|---|---|---|---|
| Total distributed dividend, | Gross | 2,200,000,000 | 9,000,000,000 | 1,250,000,000 | 2,500,000,000 |
| million TRY | Net* | 1,980,000,000 | 8,100,000,000 | 1,125,000,000 | 2,250,000,000 |
| Earnings per share, TRY | 24.00 | 95.59 | 71.17 | 45.51 | |
| Ratio of dividend to net | Gross | 42.1 | 45.9 | 8.2 | 27.7 |
| distributable profit (%) | Net* | 37.9 | 41.3 | 7.4 | 24.9 |
| Amount (TRY) | |||||
| Gross | 10.00 | 40.9090909 | 5.6818181 | 11.3636363 | |
| Dividend corresponding | Net* | 9.00 | 36.8181818 | 5.1136362 | 10.2272726 |
| to a share with a nominal value of 1 TRY |
Percentage (%) | ||||
| Gross | 1,000.00 | 4,090.90909 | 568.18181 | 1,136.36363 | |
| Net* | 900.00 | 3,681.81818 | 511.36362 | 1,022.72726 | |
| Declaration date | 28.08.2024 | 15.03.2024 | 20.11.2023 | 21.08.2023 | |
| Actual payment date | 04.09.2024 | 24.04.2024 | 28.11.2023 | 28.08.2023 |
| DOAS.IS BIST Code: |
Stock Performance in 2024 | ||
|---|---|---|---|
| DOAS.IS Reuters Code: DOAS.TI Bloomberg Code: |
TRY | USD | |
| Initial pub. offering: 17.06.2004 | Share price (31.12.2024) | 193.80 | 5.49 |
| Lowest (24.12.2024) | 191.20 | 5.43 | |
| Highest (17.04.2024) | 342.74 | 10.56 | |
| Number of stocks: 220,000,000 | Market Cap. (31.12.2024) | 42,636 mn | 1,208 mn |
| 39.50% Free float: |
Daily average trading volume | 666.15 mn | 20.61 mn |
Source: Finnet (31.12.2024)
In 2024, the foreign investor ratio of DOAS was recorded at 22%
In 2024, Earnings per Share was realized as 34.70.
In 2024, the Price/Earnings Rate was realized as 5.6.
* Under the Share Buyback Program initiated by the resolution of the Board of Directors, Doğuş Otomotiv repurchased 22,000,000 of its publicly traded shares in 2016 in compliance with CMB regulations, with a total payment of 220,274,251.16 TRY. The resale of these repurchased shares was carried out on December 13, 2022, with 514,993 shares; on August 25, 2023, with 15,400,000 shares; and on March 12, 2024, with 6,085,007 shares. As a result of these transactions, the Company's current capital structure no longer includes any repurchased shares.
PERCENTAGE OF FOREIGN OWNERSHIP (%)
Doğuş Otomotiv has strived to balance profitability levels and market share in 2024. In the rapidly digitalizing automotive industry, where technological developments play a significant role, the Company regards digital transformation as a top priority for improving service quality and strengthening business processes. In line with the objective of transitioning to an agile and analytical organizational framework, digital transformation activities aim to extend machine learning and the use of artificial intelligence within Doğuş Otomotiv. This initiative seeks to achieve a structure that rapidly perceives and adapts to changes while developing and implementing digital business models.
After our strategy review workshop in 2024, we aim to transform our business models to adapt to changing transportation and mobility needs. We strive to achieve this transformation by leveraging our six core elements:
Our goal is to continue strengthening our cost management in alignment with the Company's vision and mission, implement digital transformation across all possible business processes, continue creating "loyal customers", and become an efficient company that develops sustainably for our employees, business partners, customers, and shareholders in the upcoming period.
To provide innovative services beyond expectations.
Doğuş Otomotiv is an automotive company with a customer-focused approach and deep insights into the industry. We understand stakeholder expectations, anticipate new requirements, and deliver them with excellence. We possess creative human resources and use technology optimally to provide efficient and profitable services across the automotive value chain.
Our key corporate strategies are based on the following goals:
BE SIZABLE – BE CLOSE – BE CREATIVE
BE SIZABLE: This means for Doğuş Otomotiv to achieve systematic, efficient, and profitable expansion across the value chain in Türkiye and ensure the career development of our human resources.
This means gaining insights into the expectations of our stakeholders, particularly our customers, and elevating our relationships with
them to levels of perfection beyond expectations as quickly as possible. We aim to establish effective systems to achieve operational excellence while closely monitoring and analyzing our financial and operational position.
This means creating distinction and a competitive edge through constant innovations based on a participative approach to product development, customer service, and business concepts. We aim to develop actions and methods that render the company a "leaner, faster, more affordable" business through participation and teamwork in process improvement.
Since its inception, Doğuş Otomotiv has focused on reinforcing its position in the industry, fortifying its Authorized Dealer and Aftersales Service network, and improving the awareness and reputation of the international brands it represents in the domestic market. Following the Company's initial public offering in 2004 as an importer and distributor of all the brands it embodies, the Company has evolved its strategy by focusing on the development and performance of its other core and automotive-related ancillary businesses with both a local and global perspective.
We aim to be one of the pioneering organizations to implement applications that we develop using innovation and technology and to create synergy with our employees and other stakeholders based on the Company's sustainable and consistent growth strategy. Therefore, we see it as a priority to work on new projects to continuously increase the quality
valuable employees, engages in innovative and sustainable human resource practices, and carries out projects that improve employee experience and loyalty.
Dealers/Services, adds value to automotive processes by including manufacturers and suppliers. With constant updates, the software significantly contributes to our digitalization targets.
Loyal Employees are Essential for Creating Loyal Fan Customers! The Company provides a shared culture for nearly two thousand
ancillary businesses. Furthermore, based on the knowledge and experience we have accumulated in 30 years, we intend to build on the success we have attained by seizing opportunities and moving forward.
Knowing that the long-term success of Doğuş Otomotiv can only be sustained through the ultimate satisfaction of our stakeholders, we have built our strategy on four pillars:
With an uncompromising customer satisfaction-oriented dynamic and attentive service approach, our strategy is to make our customers feel valued and offer high-quality, creative service by attending to all their demands and needs.
Doğuş Otomotiv offers sales, aftersales service, and spare parts for 16 international brands at more than 720 customer touchpoints, aiming to continue its activities as Türkiye's leading automotive importer and distributor by achieving optimum profitability.
» Our web-based and mobilecompatible software "Turkuaz", already used by Doğuş Otomotiv and all Authorized
Agile project management emphasizes flexibility, adaptability, and responsiveness, allowing organizations to thrive in dynamic environments. This approach enables large enterprises to deliver products and services swiftly and efficiently. Initially developed for software, agile management has now become a standard in modern business practices. Agile is the fastest and safest project development approach among globally accepted methods. Initially developed for software, agile management has now become a standard in modern business practices. At Doğuş Otomotiv, we aim to embed agile management as a core aspect of our corporate culture. To support this, we have implemented a Digital Project Management Process that centralizes software needs across departments and brands in collaboration with Doğuş Technology, consolidating them into a unified portfolio.
To further enhance coordination, the Digital Board was established in 2019. Meeting every three weeks, it evaluates digital projects proposed by different brands and departments within Doğuş Otomotiv, prioritizing initiatives for maximum impact.
IT software development and digital project investments gained further momentum in 2024. While 15 digital projects were completed in 2019, this number increased to 31 in 2020, 64 in 2021, and 73 in 2022. Software projects completed in 2022 generated an estimated annual gain of 133 million TRY based on time, cost, and income projections. Among these, 20% were deemed productizable, while 40% were suitable for broader dissemination.
By the end of 2023, 100 digital projects have been completed. Of the completed projects, 20% have
satisfaction. DRIVE invests in the continuous development of Authorized Dealer and Aftersales Service Center employees. In this context, consultancy support is provided for the development and institutionalization of human resources processes at all Authorized Dealers and Aftersales Service Centers where 7,500 employees work..
The programs that Doğuş Otomotiv develops and implements to enhance employee experience and satisfaction are explained in detail in the annual Corporate Sustainability Reports.
Doğuş Otomotiv's digital transformation efforts began in 2017 with the establishment of the Digital Transformation Department. Guided by the motto of identifying trends, meeting customer expectations, ensuring operational excellence, and reshaping our value chain, we have continuously expanded and accelerated our initiatives.
The automotive industry is undergoing rapid digitalization, integrating advanced technologies into vehicles. This includes enhancing user convenience, improving driver safety, developing autonomous driving features, and enabling vehicle communication with external systems. Digitalization extends beyond product development to all industry processes, addressing evolving expectations, consumer demands, technology utilization, and internal workflows. As a result, "digital products" and "digital services" are expected to play a crucial role in the industry's future business models. Fast communication, datadriven proactive service delivery, and advanced technologies such as artificial intelligence are now integral components of the industry.
Transparency and guidance/orientation
automation and
Analytics-powered
(Number of Completed Projects)
2020, gained momentum between 2021 and 2023 with the support of competency development programs.
Projects related to Machine Learning and AI have been developed in areas such as warehousing, spare parts, and after-sales services. Simultaneously, training programs for "Data Translator" and "Data Scientist" roles were conducted within the company with the support of leading educational institutions and universities. The primary goal of these efforts is to enhance digital competencies within the company and invest in human resources for future work in Data Science and Machine Learning. In 2024, broad participation in training sessions and informational seminars on data continued. Additionally, in partnership with Doğuş Otomotiv and Doğuş Teknoloji, a Data Science Program was designed, from which 18 graduates have successfully completed their training.
Connected vehicles are smart cars that can communicate bidirectionally with external systems. This allows them to access the internet and share data with both internal and external devices. Autonomous vehicles, which can operate without a driver, represent a major advancement in this space. Electric vehicles, autonomous driving, internetconnected vehicle software, and shared mobility are just a few of the key trends requiring substantial
been disseminated, and 15% serve the general public. The total gain obtained from completed projects is 204 million TRY.
As of the end of 2024, a total of 119 digital projects have been completed, while software development efforts for 73 projects are ongoing. Among these projects, in addition to processes such as brand sales, After-Sales Services, and marketing, there are also various initiatives implemented using digital technologies such as RPA, IoT, ERP, Web/Mobile, Machine Learning, Artificial Intelligence, and GenAI in areas where we directly engage with our customers, including the Value and Care Center (DIM), Spare Parts, and Logistics.
At the core of digital transformation lie "Data" and emerging technologies such as "Artificial Intelligence", "Cloud Computing", and "Machine Learning". Data analysis involves examining, cleansing, transforming, and modeling raw data to extract useful insights, inform outcomes, and support decision-making. On the other hand, artificial intelligence (AI) is a comprehensive set of advanced technologies that enable machines to perceive, understand, act, and learn. The world is undergoing a significant transformation led by AI. While most technological advancements today revolve around AI, this trend is expected to continue for the next 30 to 40 years.
In the next 10 to 15 years, AI will be trained for specialization in specific fields, primarily in the automotive industry. As part of its digital transformation strategy, Doğuş Otomotiv places digitalization and new technologies at the center of its initiatives. In this context, Data Analytics studies involving Machine Learning and AI were launched in 2019. AI, Machine Learning, and Data Analytics projects, which were structured into formal projects in
In 2020, Doğuş Otomotiv launched the Digital Competency Development Program in collaboration with its Human Resources, Digital Transformation, and Corporate Communications departments. As part of this initiative, the GO-DGTL Academy was established. The program was designed to enhance awareness of digitalization and digital technologies throughout the company by implementing both horizontal and vertical training programs. Horizontal programs include Digital Transformation Training, while Vertical Programs focus on Data Science, Robotic Process Automation (RPA), Customer Experience and Trends, and AI.
Today, both individuals and companies generate and disseminate data 24/7 across various fields. Managing and processing such vast, evergrowing data requires specialized expertise. To establish effective data processing strategies, the "Data Strategy and Data Roadmap" initiatives were launched. These initiatives aim to improve data utilization, ensure proper storage and disposal, enhance data quality, establish need-based system architectures, and maximize the benefits of data analytics. These long-term projects are designed to manage data effectively and professionally while maximizing the use of data and technology.
At the conclusion of a three-month program conducted in collaboration in 2025 and the realization of the Artificial Intelligence strategy.
At Doğuş Otomotiv, we are continuously taking new steps to elevate the value placed on information and its security. In an increasingly digital world, one of our initiatives aimed at protecting, improving, and developing digitalization and its associated processes through proven and validated methods is the acquisition of the DIN EN ISO-27001 Information Security Management Systems Certification. With the ISO-27001 Certification, Doğuş Otomotiv has demonstrated its commitment to information as an automotive company. This step, taken in pursuit of continuous improvement, supports the documentation and announcement of comprehensive security in Doğuş Otomotiv's digitalization journey. As of 2022, Doğuş Otomotiv continues its path as a holder of the ISO 27001 Information Security Management Systems certification.
Additionally, in 2024, Doğuş Otomotiv obtained the TISAX (Trusted Information Security Assessment Exchange) certification, further validating its information security practices in the automotive industry as recognized by the VDA (German Association of the Automotive Industry).
group projects, technical training related to data has been provided to business units in relevant roles, resulting in improved processes, time savings, and enhanced data quality. A data-focused workshop held at the end of 2024 enriched data-centric projects that address the needs of business units. In 2025, we will continue to advance our goals of expanding datacentric projects and governance mechanisms.
In addition to the Data Roadmap, machine learning/artificial intelligence, and competency development initiatives, focus has also been placed on the use of Generative AI technology within the company, with several projects initiated for different functions. To effectively implement the established AI strategy, 2024 aims to equip employees with competencies, particularly in generative AI technologies. By the end of 2024, the fruits of these projects began to materialize, with two of the launched generative AI projects receiving recognition with IDC and AWS Awards.
Furthermore, it is anticipated that the infrastructure developed in conjunction with the Data Roadmap and data governance efforts will lead to the establishment of an Artificial Intelligence Excellence Center
with subject matter experts:
As part of this roadmap, a total of 16 projects have been identified, and efforts to implement these projects have been initiated within a timeframe of two to three years. This approach aims to manage data more effectively and qualitatively, encompassing all processes from its inception to processing.
This alignment will ensure consistency between the business strategy and the data strategy, with the implementation of data infrastructure, governance, and analytical processes as outlined in the Data Roadmap. Between 2022 and 2024, 16 projects related to Data Strategy and Governance, Data Architecture and Modeling, Metadata, Data Quality, and Data Operations have been launched within the scope of our Data Roadmap. All 16 projects under the Data Roadmap have been completed successfully in 2024. Additionally, projects focusing on datasets, standardized data governance processes, and value creation from data continue in line with dissemination objectives. Approximately 70 employees from Doğuş Otomotiv and Doğuş Technology have actively participated in these processes.
Within the data governance process, roles such as leaders responsible for data groups, a leader for data management, and data privacy responsibilities have been defined, along with technical data roles in collaboration with Doğuş Technology. In the context of data
2024 ANNUAL REPORT
» Designing and managing sales and service campaigns and projects based on data analytics, conducting customer segmentation and loyalty-focused analyses, and supporting the integration of offline services with online services.
Customer Experience Management encompasses the perceptions and emotions resulting from the relationships established with customers at each contact point. To manage customer communications proactively and seamlessly by placing the customer at the center, the business and process steps in the pre-sales, sales, and aftersales phases of the Volkswagen, Audi, Porsche, SEAT, CUPRA, Scania, DOD, and Sensat brands that Doğuş Otomotiv represents are monitored using customer contact maps.
Preparations were completed for the infrastructure designed for the times when telephone surveys will decrease and online surveys will increase due to the requirements brought by digitalization, and online survey work has continued. Within the scope of this research, system integration was ensured for the automatic transfer of customer data to an independent company, taking important steps in terms of data quality control. In 2024, more than 58,000 customers, 15,879 of whom were online, were interviewed regarding their satisfaction with sales and aftersales services, and improvement actions were planned by the relevant management units.
The CRM (Customer Relationship Management) Unit within our company has been transformed into the Customer Experience Unit and restructured under the Digital Transformation and Corporate Communications Department. This aims to manage our customers' experiences throughout their life cycles effectively, adapt to innovations, simplify customer communication processes with a proactive approach, create personalized offers and services through central data management and analysis, strengthen customer trust in our Company and brands, foster loyalty, and maintain high levels of customer satisfaction in accordance with innovations and changing dynamics.
» Developing and executing analytical projects in collaboration with third parties for the brands, Authorized Dealers, and Services,
» Enriching available customer data with consumer data from social and digital media to ensure continuity, and turning customer complaints received via social media into sales opportunities,
contact points, enabling brands and Authorized Dealers to transparently track consumer expectations and feedback in real time through comprehensive reporting functions.
The design of DIM reflects the belief that both customers and employees should feel valued. Consequently, we have created an environment that empowers employees to feel appreciated, take initiative, and engage in decision-making.
Headquartered in Şekerpınar, DIM exemplifies our Company's philosophy of continuous development and sets a benchmark not only for the automotive sector but also for various industries.
DIM provides the following services:
DIM manages requests (complaints, recommendations, feedback, etc.) regarding brand vehicles imported by Doğuş Otomotiv and its Authorized Dealers and Services, addressing customer needs and expectations while demonstrating the value and attention they deserve. These requests are received through multiple channels, including phone, email, live chat, social media, and letters.
In 2024, DIM successfully handled 142,824 dialogue phone calls, with an average speed of answer (ASA) of 7 seconds* and a service level of 87%.
Additionally, 195,546 customer emails were addressed, with an email response time of 69 seconds. In 2024, the number of answered emails increased
The Dealer Satisfaction Survey (DSS) was conducted to measure the satisfaction of our Authorized Dealers and Service Centers with Doğuş Otomotiv's related units. In the online study, 510 questionnaires were evaluated, and as a result of the analyses, studies on development areas were initiated.
In line with the increasing use of mobile applications, our brands' communications and campaigns via the ZUBIZU loyalty platform continued in 2024. Doğuş Otomotiv customers gain several privileges in companies from different sectors through the brand mobile applications on ZUBIZU. Our ZUBIZU-Shell fuel advantage program partnership continued throughout 2024.
Within the framework of Data Governance, our efforts on issues such as integrations, processes, authorizations, Personal Data Protection Law, and information security on Doğuş Otomotiv data continued in 2024 according to the priorities determined on our current ERP system, Turkuaz, where Data Security, Data Identity, Data Warehouse, and Data Quality, in addition to Data Usage and Analytical CRM studies, are followed in a multi-faceted manner.
A payment system, fully integrated with our ERP system Turkuaz, has been developed for use by all our brands and dealers. Within the scope of this work, full integration with the contracted payment system provider was achieved, offering our customers web-based, mobile, and remote payment opportunities. Our dealers wishing to join the system, which was used by 16 of our dealers in 2024, will have the opportunity to do so in 2025.
The Voice of the Customer Platform Project, which our Authorized Dealers using digital switchboards can integrate with, was launched in 2024 with four Authorized Dealers. The project focuses on the renewal of the communication system infrastructure to provide our customers with uninterrupted communication and a superior experience. As a result of the project, which will be implemented through the renewal of network infrastructures and the installation of a new switchboard system, all completed and future digital communication projects can be swiftly and efficiently realized on this robust technical infrastructure. Additionally, in 2025, our dealers who wish to do so will have the opportunity to integrate into the project.
In line with our vision of "Creating Loyal Customers" our Company has consolidated previously outsourced operational services -such as dialog (care management), roadside assistance, and call center operations (surveys and bookings) under a unified quality framework. This newly established unit, named the 'Value and Care Center' (Değer ve İlgi Merkezi, DIM), emphasizes our commitment to valuing and caring for our customers. Structured under the Digital Transformation and Corporate Communications Department since November 2014, DIM is dedicated to delivering innovative services that exceed expectations, foster positive customer experiences, and cultivate a growing base of fan customers through the promotion of value and trust.
DIM supports all our brands throughout the customer lifecycle and continuously enhances the quality and variety of its services through various projects. Its operations aim to establish a consistent service and quality standard at customer
* Average Speed to Answer(ASA) is the average amount of time taken for a call center agent to answer an inbound customer call.
DİM, which was put into service in 2014, aims to increase the number of loyal customers while supporting Doğuş Otomotiv brands at every point of the customer life stage.
accurately and effectively. In 2024, a total of 193,836 surveys were conducted at DIM for 52 different projects, reflecting a 19% increase compared to 2023. The collaborative efforts of our CRM department with our brands are supported by this unit, and fieldwork is carried out by our survey team.
Appointment: This refers to scheduling and planning appointments for customers regarding maintenance or repair, which is the first communication between authorized services and customers after a sale. Paying attention to the needs and expectations of customers is fundamental to this process. It also involves coordinating with the relevant Authorized Services, including workshop planning. In this context, in 2024, services were provided for vdf Fleet Rental, Arca Otomotiv Etimesgut, Arca Otomotiv Bursa, Doğuş Oto, and the Porsche Türkiye Appointment Line, as well as all Porsche Authorized Services. A total of 279,396 calls were handled, reflecting a 1% increase compared to 2023, resulting in a total of 89,218 appointment records created for all our brands. Additionally, in the IVR Appointment project launched in 2020, a total of 7,772 appointments were made.
Used Car Sales: This encompasses the services for buying, selling, and exchanging used vehicles requested by DOD brand customers through the website, social media, and phone. It involves researching inquiries about insurance and financing related to used cars, presenting the findings to customers, and facilitating connections between customers and Authorized Dealers. In 2024, DOD received a total of 4,067 calls.
In the overall call center sector, one of the most important criteria evaluated is the Service Level
The "Emergency Service" provided to DIM customers amounted to 23,747 instances. The Emergency Service is available 24/7 across Türkiye to address our customers' requests at the scene and ensure their uninterrupted mobility.
Additionally, the "Towing Service" provided to DIM customers reached 18,756 instances. The temporary vehicle allocation offered to DIM customers as part of field operations was recorded as 1,916 instances.
In 2024, the number of registrations opened for road assistance calls was 98,401. The customer satisfaction level regarding the road assistance services they received was reported as 90%.
by 92%. In 2024, 45,073 live chat conversations were conducted, and these chats were responded to within an average of 21 seconds. Social media interactions (X, Facebook, Instagram) reached 56,777, reflecting a 15% increase compared to 2023.
. 2. Road Assistance: This service covers road assistance provided to brand vehicles imported by Doğuş Otomotiv, vdf Insurance policyholders, vdf Fleet Rental vehicle users, and customers of D-Charge, a brand of Doğuş Charging Systems, which operates under the Doğuş Otomotiv umbrella. The primary goal of the road assistance services is to ensure the uninterrupted mobility of customers. The aim is to provide customers with a sense of security against any adverse situations they may encounter on the road and to offer a road assistance service that reaches them as quickly as possible to provide all necessary help.
In 2024, a total of 168,473 road assistance calls were handled, reflecting a 2% increase compared to 2023. The average response time (ASA) for road assistance calls was 8 seconds, and our service level was 87%.
Invoice Automation: The automation of invoices for Emergency Service and Towing Services of DIM has been achieved through RPA technology, minimizing workforce loss. Within the scope of the project initiated in 2023, approximately 24,000 invoices were automatically approved, resulting in a gain of 0.6 person-years.
Automation: The Road Assistance Satisfaction Surveys implemented to measure the Emergency Service and Towing Services provided to DIM's customers have been automated using an IVR system, similar to the Customer Representative NPS Automation. Since the second half of 2021, these surveys have been filled out in real-time by customers.
Cloud Central Project: Since February 2023, DIM has transitioned to 'cloud central' technology for its central infrastructure. This project has facilitated location-independent work, data security, and cost advantages.
Digital Training: The project, which started by preparing some face-to-face Onboarding Training sessions in video format, has now expanded to all internal training. With integration into the Go-Development system, these trainings have become always accessible, measurable, and trackable.
IoT Towing Tracking: The integration of IoT-supported tracking devices and software installed on the vehicles of towing suppliers serving DIM with Doğuş Otomotiv's ERP system, Turkuaz, allows customers receiving towing services to track their service process in real-time and dynamically. Additionally, the new datasets generated have contributed to the improvement of operational processes.
examinations) to customer representatives.
Diyalog Mobile Application: To meet customer expectations and provide a unique customer experience, the first phase of the DİYALOG mobile application has been launched. When customers are stranded, their location can be detected through the app, and emergency service or towing personnel can be dispatched. Customers can also track the locations of the emergency service and tow truck on their phones. This enables customers to access roadside assistance with just one click in case of a breakdown.
NPS Call Automation: NPS calls measuring customer satisfaction with DIM's services, previously conducted by customer representatives, have been automated using an IVR system since 2017. This transition has not only saved workforce resources but also allowed for more information to be gathered from customers for process improvement and development.
Decision Support Assistant: This application assists newly hired DIM Road Assistance customer representatives in making correct decisions by providing a specialized chatbot based on frequently asked questions. One of the key features of the Decision Support Assistant is that it learns through historical data.
Dashboard Projects: DIM collaborated with D-Teknoloji to implement the Brand Reports Dashboard project, automating approximately 40 reports and making them available for eight brands. Additionally, a pilot study specific to Audi was conducted, creating tailored dashboards based on KPIs defined exclusively by brand officials. This project has also contributed to raising awareness within the company regarding dashboard design and creation.
target, which stands at 80%. In 2024, DIM achieved a Service Level of 86% as a common value across all units.
The Net Promoter Score (NPS), which measures the quality of service provided by customer representatives and the feelings it evokes in customers, was recorded at 87% in 2024. As a result of the quality assessment of DIM customer representatives, their call quality score in 2024 was 88%.
DIM prioritizes providing exceptional service to its customers. To this end, DIM has signed special contracts with towing companies in significant and high-demand areas and subsequently conducts quality assessments of these towing firms. This approach aims to achieve high service standards in quality and efficiency.
DIM Rent A Car (RAC): Since 2015, DIM has provided temporary vehicle rental services to dealerships for customers stranded on the road, partnering with the VW and Audi brands. This allows customers to experience higher-end vehicles such as the VW Passat or Audi A4 instead of their own cars. In the last quarter of 2023, the CUPRA brand also joined the project with 15 vehicles.
D-Pedia Glossary: A web-based FAQ section has been created to enable customer representatives to respond quickly to customer inquiries and facilitate the easy integration of customer questions and issues into corporate memory.
Online Performance System: A new performance measurement software system designed specifically for DIM has been integrated through a special project. This system allows for realtime transmission of measured results (such as call quality and
Celebrating its 30th anniversary in 2024, Doğuş Otomotiv shared the story of 30 years with a retrospective exhibition at Galataport Doğuş Otomotiv Plus.
Doğuş Otomotiv Plus Galataport opened on October 21, 2021, and welcomed a total of 2,652 visitors in 2024, comprising 1,676 domestic and 976 foreign guests. The exhibition space showcased a rotating display of innovative and environmentally friendly vehicles available in the Turkish market, including those with low or zero emissions, as well as future models planned for release.
The following brands and models were exhibited during specified time periods:
(disability, gender, age) appearing on customer representatives' screens. This allows for a differentiated service in terms of behavior and time for these customers.
DIM GENAI Exam Module: To ensure the sustainability of knowledge levels and quality service, a system that enables the creation and evaluation of monthly exams for customer representatives using artificial intelligence has been implemented in 2024. This module, recognized with awards from global and local organizations, also allows the Value and Care Center to play a role in representing Doğuş Otomotiv's innovative aspect.
DIM has continued to utilize the 'speech to text' system, which it started using in 2017 as a significant technology investment. This allows all recorded conversations to be automatically converted into text using speechto-text technology, enabling various analyses to be conducted through data mining methods on these texts. The analytics system has provided DIM with contributions to performance management, efficiency, and marketing.
DIM began implementing the Porsche Premium Customer Representative project initiated by the Porsche brand in 2019. Within the framework of this project, dialogue, and roadside assistance calls received on the designated line are now answered by personnel specifically assigned to the Porsche brand. This project has also been expanded to VW Commercial, Scania, and CUPRA brands.
In 2016, DIM launched the Positive Discrimination Project to provide faster service to customers among its clientele, including individuals with disabilities, women, and those aged 60 and over, and to minimize waiting times. Through specific definitions made in the system and central infrastructure, these customers are prioritized when they call, with special indicators regarding their status
On April 26, 2024, and October 1, 2024, the Human Resources department hosted the "A Day with Doğuş" event for students from various universities. On November 6, 2024, the same department organized the "Drive - Authorized Dealer Human Resources Teams Training" meetings.
On March 3, Seda Öğretir introduced the NTV Book Presentation for children; on March 23-24, a technical training workshop on pre-long journey preparations took place; between May 10-20, a retrospective exhibition celebrating Doğuş Otomotiv's 30th anniversary was held in the special showcase area; and from August 14 to September 29, the "Digital Puzzle" event was conducted within Galataport Istanbul and the showcase area.
Doğuş Otomotiv Plus Galataport hosted the Scania press conference on March 19 and the Audi press conference on April 3-4.
featuring guests such as Mehmet Sindel, Ebru Nalan, and Feyzi Erçin on February 14, April 25, May 4, and July 17.
As part of the "Culture's Bright Side" event, guided by Barış Partal, a total of four city tour workshops were conducted on May 19, August 18, September 28, and November 10, covering routes including Karaköy, Tophane, Dolmabahçe, and Beşiktaş. The events aimed to highlight the significance and importance of special occasions.
Kicking off the "Benefits of Sports" theme on March 10, 2024, instructor İpek Darga led a 'Mindfulness' workshop in collaboration with VW and Under Armour. This theme continued with the first session of the "Yoga by the Pier" series, in collaboration with Cihangir Yoga, held on June 2, with subsequent sessions on June 29, July 27, August 31, and September 21. Throughout different periods, VW Passenger, Audi, and Škoda brands sponsored the event, leading to increased participation.
Additionally, in Doğuş Square, a stand was established to support the launch of our brands, where a total of 17 vehicle exhibitions and 12 events were held throughout 2024, attracting a total of 19,655 visitors.
On January 27-28, February 3-4 and November 16, 2024, a workshop on True Nature Stories was held with wildlife photographer and birdwatcher Alper Tüydeş as part of Doğuş Otomotiv's We Spread Our Wings to Nature Program, launched to raise awareness on biodiversity and ecosystem protection.
In 2024, the "Recycled Art" exhibition organized within the framework of the We Spread Our Wings to Nature program continued.
The Film Workshop event, which started in 2022, continued in 2024 with different films and content,
| 2024 Forecast | 2024 Realized | 2025 Forecast | |
|---|---|---|---|
| Total Automotive Market (Passenger + Light Commercial + Heavy Commercial) (000 units) |
1,200 | 1,217 | 1,000 |
| Doğuş Otomotiv Sales Volumes (excluding Škoda) (000 units) |
125 | 145 | 115 |
| Investment Expenditures (billion TRY) | 4.7 | 4.4 | 5.3 |
domestic operations. In the medium to long term, efforts will be directed toward mobility, digitalization, and service-oriented initiatives. Additionally, key business processes will be strengthened within a holistic structure that integrates continuous development, digitalization trends, and manufacturer strategies. Our company will continue to uphold its strong market position, leveraging the solid brand image of the international manufacturers it represents.
Potential risks affecting our 2025 expectations include:
The principles for managing these risks will be detailed in the following section, "Compliance and Risk Management Framework".
The year 2023 was marked by geopolitical risks, strong momentum in the automotive sector, and structural transformations in macroeconomic policies. In 2024, the accelerated adoption of electric vehicles, digitalization, and sustainability-driven transformations played a defining role. Additionally, the automotive industry in 2024 was shaped by increasing competition, new technological investments, and green finance projects, with global and local market shifts influencing sectoral developments.
In Türkiye, the automotive industry witnessed record-breaking sales in 2023, reaching a total wholesale volume of 1,237,070 units and achieving 58% growth. In 2024, the performance of the automotive sector has normalized by 2%, reaching 1,216,609 units. During this period, the Turkish Lira depreciated by 16% in nominal terms against a currency basket consisting of the US Dollar and the Euro.
Maintaining its financial and operational resilience, our company successfully completed 2024 with a total of 145,368 wholesale sales units (excluding Škoda). Our Company realized 95% of its projected investment expenditure of TRY 4.7 million.
market share (excluding Škoda)
through regular monitoring of key performance indicators and
Our capital expenditure plans for 2025 focus on:
» Electrification and mobility investments.
In the short term, our Company will streamline its operations by divesting from low-potential ventures, focusing entirely on
* Refers to the amount excluding OEM, Doğuş Holding, and Doğuş Group companies. Value Added Tax (VAT) is included in the relevant amount.
the risks and monitor the identified ones.
In addition, our company conducts sustainability risk evaluations for Supplier Quality Management processes and strategic suppliers, supported by ISO 9001 assessments, with its purchasing experts. In 2024, more than 80% of our 94 critical suppliers were audited.
Since 2014, Doğuş Otomotiv has been encouraging its suppliers to measure and evaluate their sustainability performance and improve themselves in this regard to minimize their risks.
manages in accordance with international standards within its own structure, in the same way within the scope of the supply chain.
In this context, sustainability criteria have an important place in all supply chain management stages of Doğuş Otomotiv. The "Sustainable Supply Chain Model", which we have developed for our suppliers to predict their social, environmental, and economic risks, consists of three stages.
The sustainability topics, which Doğuş Otomotiv pledges to transparently share their performances with its stakeholders in line with its priority areas of focus, are evaluated and proactively managed at every single stage of the "Sustainable Supply Chain Management" processes. In this direction, our suppliers cooperate with Doğuş Otomotiv to have the opportunity to take advantage of important opportunities in areas such as reducing environmental impacts, circular economy and waste management, occupational health and safety, business ethics, and employee satisfaction.
Doğuş Otomotiv has a risk management system that identifies and manages critical suppliers. Accordingly, the company has conducted a Risk Categorization study to identify
On May 12, a special collaboration for Mother's Day was held featuring KIKO - VW Passenger - Doğuş Otomotiv Plus. As part of this event, KIKO created special codes and provided various gifts to visitors at the showcase area.
On November 26, the "Entrepreneurial Institutions Platform" was organized, and on December 18, an exclusive Audi Q4 e-tron vehicle test drive took place exclusively for Galataport employees.
Doğuş Otomotiv has considered supply chain management as a part of risk management in terms of sustainability since 2014. The company has aimed to create awareness toward sustainability among its suppliers and has supported this process by encouraging the consciousness of collecting environmental and social data and giving training.
In 2024, risk management has become a very important topic in Doğuş Otomotiv's supply chain, with more than 1,800 suppliers and a total purchase amount of 6,9 billion TRY*. Doğuş Otomotiv, which has a complex supply chain structure, prioritizes transparency and dialog in its relations with its suppliers.
Our company addresses its legal and commercial risks, which it
The Early Risk Detection
Committee conducts activities for effective risk management by early detection of potential causes that may endanger the existence, development, and continuity of the Company, taking necessary precautions promptly. Often, the interpretation of future scenarios and uncertainties, the main themes of these activities, are not seen solely as barriers; instead, they are viewed as potential opportunities by the Company for systematic self-evaluation and new advantages.
With a qualified team and accurate information flow, the Committee assures and supports the oversight role of the Board of Directors and reviews the risk management systems at least four (4) times a year. Additionally, it presents assessment reports prepared during meetings at scheduled intervals to the Board of Directors and shares them with the auditor within the year. Considering its members, the Committee is directly linked to the Corporate Governance and Sustainability Committee. In 2024, the Early Risk Detection Committee held four (4) meetings.
The Company's risk perspective, shaped by its field of operations, scale, and business structure, continuously evolves and matures on a platform where international developments and best practices are filtered through competencies. It is essential to acknowledge that risks in this process are not limited to financial, operational, and natural phenomena but require management with a broader perspective and sustainability
Corporate Risk Management, established to revise and assess methods for timely and adequate definition of uncertainties and to take remedial measures aligned with our Company's overall code of conduct, continues to evolve into a corporate culture that extends from the governing body to all employees.
Due to the importance of risk in our company, the process is carried out by the Financial Control and Investor Relations department operating under the General Directorate Responsible for Financial Affairs. By addressing the complementary nature of risk and control concepts together, we maintain our goal of creating a single responsibility center and a common language. To support this objective, a direct, comprehensive, and integrated service is provided for the Early Risk Detection Committee, serving as the command center for effective risk management, with full support for the Committee's oversight duties.
Our risk profile has evolved in recent years to reflect our increasing sensitivity to health, safety, legal compliance, technology, environmental concerns, business continuity, and sustainability. This expanded perspective considers the probabilities and potential impacts of various processes and scenarios. Risk measurement and assessment parameters, the use of common terminology, and business continuity approaches, along with all related reporting and shareholder information activities, continue to be reinforced
The revisions we have made in response to our changing organization and the current environment aim to control and manage risks following their analysis in line with the objectives of the internal control system. Managerial bodies, including relevant committees and executive management, plan necessary measures for assurance in accordance with Company objectives and monitor them through authorized channels.
The Company's risk management policy was developed within a framework shaped by internal control and audit activities, delineating roles and responsibilities from the Board of Directors to the lowest levels, and planning and managing risk processes. A fundamental emphasis is placed on ensuring that risk, as a shared corporate culture, is expressed uniformly by all stakeholders. Addressing models and methods designed for application within the Company, in alignment with generally accepted references, is also essential. Identifying factors that might threaten our organization, assets, and stakeholders, taking measures, and enhancing oversight effectiveness will continue to guide our efforts.
Our Company's risk management framework is summarized in the structure on the next page.
standards, UNGC Communication on Progress, EU Sustainability Directive, European Commission Taxonomy, ILO requirements, Universal Declaration of Human Rights, etc.), as well as internal company practices.
Reputational Risks: These arise from diminished trust in or damage to the institution's reputation, which can occur if the Company fails to adhere to legal regulations or if stakeholders (customers, employees, shareholders, regulatory and supervisory authorities, competitors, and society) engage in actions that could result in negative perceptions of the institution.
Operational Risks: These encompass all risks encountered in the execution of the Company's day-to-day operations, including those related to organization, workflow, technology, and manpower, which can lead to financial and reputational losses for the institution.
External Environmental Risks: This category includes risks from political uncertainties, natural disasters, and terrorism.
Doğuş Otomotiv Compliance Function
approach. The activities carried out using an integrated blueprint consider interconnected risks, guiding processes included in risk management toward a strategic and proactive business model.
In 2024, all risks managed by the Company's departments and the actions taken regarding these risks were defined in the system. To ensure the monitoring of risks and opportunities in the newly established digital system, support the reporting of actions taken to mitigate risks, and contribute to the evaluation and realization of opportunities, a Risk and Opportunity Working Group was formed. In 2024, a monthly Risk Management Report was generated and reported to senior management. The Risk Management Report was also transferred to the Power BI
environment for reporting in 2024.
Company Risks are defined as Financial Risks, Strategic Risks, Compliance Risks, Reputational Risks, Operational Risks and External Environmental Risks.
Financial Risks: These involve potential losses that may arise due to market fluctuations, credit or liquidity issues, balance sheet and off-balance sheet management, and performance management. Such risks can impact the institution's financial structure and resources necessary for its financial activities.
Strategic Risks: These unforeseen risks threaten the company, stemming from political, economic, social, and other environmental changes. They can hinder the Company's capacity to achieve its strategic goals and business objectives.
Compliance Risks: These arise from financial and reputational losses and criminal situations due to non-compliance with legal obligations, ethical standards, national (CMB requirements, Corporate Governance Compliance, and sustainability statements), and international standards (GRI reporting standards, ISO
is to increase the effectiveness of continuous auditing in regular audit activities.
Quality Assurance Review (QAR) service was received from the independent audit firm Ernst & Young in 2021 to measure and monitor the audit quality and to evaluate the compliance of Internal Audit Department activities with leading practices, professional practice standards, and ethical rules of the International Institute of Internal Auditors (IIA). As a result of the study, the highest grade, "Generally Conforms", was obtained.
As Doğuş Otomotiv's Audit Committee, our objective is to ensure the compliance of the Company's financial statements through effective management. In this respect, the Audit Committee, on behalf of the Board of Directors, defines the methods and criteria for internal audits, effectiveness, and adequacy of internal control and risk management, functioning of the accounting and reporting systems per the Capital Markets Law and the principles therein, the integrity of the information produced, the assessment and resolution of the complaints made to the Company regarding the internal auditing system, and confidential evaluation of notifications and notices on accounting and independent auditing issues.
All members of the Audit Committee, which I am chairing, are Independent Board Members defined within the framework of the Capital Markets Board of Türkiye's Corporate Governance
While the internal control and internal auditing activities are carried out to ensure effective, reliable, and seamless management of the Company's services and assets, a secure environment is created to ensure the integrity and consistency, timely availability, and protection of the information provided.
With internal control practices an integral part of our policies and procedures, our objective is to protect the rights of shareholders and stakeholders, ensure that the Company's financial and non-financial information is realistic and accessible, comply with legislation and the Articles of Association, and carry out operations effectively and efficiently. Given that internal control is an ongoing activity and its assessments provide an instant view of the system, our existing structure has been reinforced with a triple line of defense. The internal control system, performed by executives and employees, constitutes the primary defense line while the Financial Control and Risk Management activities, which have been restructured under the General Directorate of the Chief Financial Officer, take place as the second line of defense. Functioning directly at the operational level, Financial Control and Risk Management acts in coordination with the other control departments such as Legal. Our third and final line of defense is Internal Audit activities.
The Company has in place an Internal Audit Department, which reports to the Audit Committee and operates in accordance with
the legislation and international standards. The department regularly and systematically audits and reviews the processes and internal control activities according to a risk-based annual audit plan approved by the Board of Directors and in line with the defined objectives. In 2024, a total of eight (8) meetings were held with the Audit Committee regarding the results of independent audits and the regular audit, inspection, and investigation activities carried out by the Internal Audit Department. In addition, the meetings of the Early Risk Detection Committee were attended.
The Internal Audit Department, taking care to comply with international standards of internal audit activities, evaluates development opportunities by considering quality assurance activities, senior management expectations, and similar industry practices. In this respect, audit activities regarding Information Technologies continued in 2024.
With the remote working model that started with the pandemic, the effectiveness of internal Auditing continued without compromising and focusing on remote auditing techniques, and the entire audit plan was completed as determined. In this context, efforts were also focused on the digitalization of auditing. Auditing activities were continued, and in this context, improvements were made in the relevance, efficiency, and effectiveness of audits by performing daily, weekly, and monthly reporting using the system, and by maintaining audit methodology practices that can produce results on all data instead of sampling. The objective for 2025
Homologation Unit established the Monitoring and Steering of Regulations (MSoR) Working Group. This group is dedicated to managing company processes in adherence to legal obligations and deadlines, as well as facilitating effective communication with Original Equipment Manufacturers (OEMs). The MSoR Working Group's activities are ongoing.
In 2024, a digital system called "Compliance and Procurement Audit" (USAD) was established to audit subsidiaries, Authorized Dealers and Service Centers, and high-risk suppliers under the "Compliance and Integrated Management Systems" framework.
billboards related to our policies were strategically placed in areas frequently visited by employees, providing detailed insights into policy content.
In 2024, it has been decided to complete the "Ethical Guidelines for Business Partners" training, shared by Volkswagen AG with all its business partners, within the distributor and Authorized Dealer network. The training covers topics such as Ethical Guidelines for Business Partners, Compliance with Laws and Regulations and Honesty, General Sustainability Expectations, Environment, Human Rights and Labor Law, Business Ethics, Responsible Supply Chains, and Reporting of Misconduct.
The Compliance Function, which reports to the Early Risk Detection Committee -a subcommittee of the Board of Directors- held two (2) committee meetings in 2024 with its working group. The third meeting for 2024 took place in January 2025. The Compliance Function Procedure was submitted for senior management approval in 2023 and was published in 2024.
In 2022, the Doğuş Otomotiv Compliance Function and
The compliance approach at Doğuş Otomotiv encompasses strict adherence to existing laws and regulations, internal policies and procedures, social norms, the Doğuş Otomotiv Code of Ethics, and relevant international standards.
To ensure a full understanding of corporate policies within the Company and to support the duties of the Compliance Function, Doğuş Otomotiv undertook various internal communication initiatives in 2024. These efforts aimed to enhance company-wide awareness of our policies, resulting in the publication of three (3) Compliance Bulletins and three (3) Personal Data Protection (PDP) Bulletins. The fourth Bulletin for 2024 was published in January 2025.
The Compliance Bulletin serves to update and inform employees about crucial compliance and ethics issues, including the latest news and developments in compliance globally and domestically. Similarly, the PDP Bulletin focuses on updating employees about decisions made by the PDP Board, global trends, and recent developments in personal data protection. Additionally, information and
These meetings enable us to consider the issues that may be brought to the agenda by the auditors or to our attention about the auditors.
The interim financial statements have been reviewed together with the Company's independent auditor. Quarterly reviews were conducted regarding the analysis of the consolidated results and the consolidated balance sheets were reviewed.
Audit activities, covering financial, operational, regulatory, and misconduct risks for all brands and departments of the Company, were carried out. In the audits, the effectiveness of internal control and risk management systems was assessed concerning compliance with legislation, policies, and procedures, accuracy and veracity of financial and operational information, protection of assets, and the productivity and efficiency of operations.
The increasing amount of data and transaction volumes along with the growing importance of information technologies in recent years cause the adequacy of conventional audit methods to be questioned. Therefore, continuous/computer-assisted audits have gained importance as an electronic audit process that provides assurance by the auditors. In this context, an audit methodology was introduced to generate results across all data instead of sampling and create periodic reporting through the system. These continuous auditing activities, which enhance the relevance, effectiveness, efficiency, and timeliness of the audits, continued in 2024.
Risks related to the Company's Information Systems processes were reviewed and the effectiveness of the controls was assessed. The audit activities were carried out under 4
The Committee convened eight (8) times in 2024, including 4 meetings with the external audit firm and 4 meetings with the Internal Audit Department. The independent external audit firm submitted its review of the consolidated financial statements and the audit results. In the presentations made to the Committee by the Internal Audit Department, evaluations of the findings regarding internal control, risk management, and governance processes were performed. In addition, separate meetings are held at least once a year with the Chief Financial Officer, Accounting Manager, and independent external auditors in the absence of executive directors.
Principles. Ms. Adalet Yasemin Akad, the other Committee member, and I contribute to the committee with our extensive experience in finance, accounting, and auditing, which we have gained through our professional activities.
As the Audit Committee, we carry out our activities per the Committee Regulations approved by the Board of Directors and assist the Board in its oversight role regarding accounting, auditing, internal control system, and financial reporting practices. In this context, we are responsible for the following issues, which are also specified in our regulation.
response to the Company's tender are shared with us. The final decision is made as a result of the evaluations we have made as a committee. As a result of the tender opened in 2019, we started to work with PwC, in line with our decision, considering that the firm possesses the necessary knowledge, competence, expertise, and assurance that it will conduct the audits by national legislation and international audit standards. The next audit tender is planned to be held at the end of 2025.
plan, which includes basic risk assessments, with us and the audited units. An annual survey is conducted by the independent audit firm regarding the audits carried out to receive feedback from the management about the effectiveness of the audit process.
In 2021, Quality Assurance Review (QAR) service was received from the independent audit firm Ernst & Young to ensure that the internal audit activities carried out within the company have been carried out in accordance with the International Internal Audit Standards and Professional Ethics Rules determined by the International Institute of Internal Auditors. As a result of the studies carried out, the Internal Audit Department received the highest grade of "Generally Conforms".
Our Company works with PwC, one of the well-known companies in the industry, to receive service for the independent external auditing of our company activities. Considering the quality of the service we have received throughout the year and the firm's position and experience in the sector, we find the audits to be effective.
At the Audit Committee meeting held regarding the independent external audit firm selection process, offers received in
main headings: Information Technologies Governance, Information Security and Access Management, Infrastructure Operations, and Change Management. Furthermore, compliance with the Information Systems Management Communiqué published by the CMB in 2018 was followed through, and the compliance and effectiveness of the actions taken were evaluated.
In addition to all the internal control and audit activities in 2024, the findings from the previous periods were also followed up and the statuses of the actions to be taken regarding the deficiencies were evaluated.
We have an Ethics Hotline, which is fully controlled by an independent institution, where all employees of the Company can openly or anonymously report any violations or potential violations of the Code of Ethics. In 2024, the complaints and notices received from the Ethics Line were evaluated and necessary investigations and examinations were carried out.
The effectiveness of the audit process depends primarily on defining the appropriate audit risks. Accordingly, our independent audit firm shares a detailed quarterly audit
Volkswagen Passenger Cars made a strong entry into the electric vehicle market in 2024 with its fully electric ID. Family, achieving a total of 74,533 retail sales.
VOLKSWAGEN PASSENGER CARS INCREASED SALES BY 69.1% TO 14,639 UNITS IN THE C-SUV SEGMENT.
A total of six model launches took place in 2024, including four new models and two facelifts. In February, the facelifted version of the successful Volkswagen SUV, the T-Cross, was introduced to the market. In March, the ninth-generation Passat, which has sold over 34 million units worldwide since 1973, and the third-generation Tiguan, Europe's best-selling SUV offering advanced technology and a premium driving experience, hit the roads in Türkiye. In August, Volkswagen's globally best-selling model, the Golf, was refreshed with a comprehensive facelift and celebrated its 50th anniversary with Turkish consumers. At the end of 2024, Volkswagen further strengthened its presence in the SUV segment with the launch of its first fully electric SUV, the ID.4. Additionally, the ID.7, the flagship sedan of the ID. Family with a range of up to 700 kilometers, arrived in showrooms in December.
Volkswagen's dominant D-segment model, the Passat, maintained its leadership in 2024 with a 72.4% segment share. Celebrating its 50th anniversary, the facelifted Golf increased its
sales volume by 9.4% compared to 2023, retaining its position as the top-selling model in the C-Hatchback segment. With contributions from the thirdgeneration Tiguan and the ID.4 -Volkswagen's first fully electric SUV- Volkswagen Passenger Cars boosted its C-SUV segment sales by 69.1%, reaching 14,639 units. Additionally, the facelifted T-Cross increased its B-SUV segment sales by 15.3%, totaling 8,990 units.
Volkswagen Passenger Cars continued its customer-centric initiatives in line with the global "Love Brand" strategy throughout 2024. The brand facilitated direct engagement with various target audiences through sponsorships and vehicle showcases supporting its "top of volume" positioning. In sports, the Volkswagen Kite School program was launched, while in music, vehicle showcases were integrated into jazz festival sponsorships. Furthermore, Volkswagen Arena sponsorship activities encompassed 150 events, attracting over 250,000 visitors, thereby enhancing brand awareness and perception.
In response to evolving customer expectations, Volkswagen Passenger Cars continued developing new projects in 2024 with the goal of fully digitizing its sales and service processes. The primary objective of these projects was to enhance the role of digital channels in both sales and after-sales services while improving customer experience across all touchpoints. One key initiative, the "Unreachable Lead Records" project, was launched to re-engage potential customers who submitted their information via the website or social media but could not be reached during initial contact attempts. Through an automated SMS process enabling users to verify their data, 8% of previously unreachable customers were reconnected and directed to an authorized Volkswagen dealer in 2024.
With the launch of electric models, Volkswagen also introduced enhancements across multiple digital channels. A new "Electric Vehicles" section was added to the website, offering new and tailored content for potential and existing electric vehicle customers. Key functionalities, including "Charging Time Calculation",
"Range Calculation", and "Cost Calculation", were made available. Additionally, new content was developed based on the most searched EV-related topics on Google and frequently asked customer inquiries.
In After-Sales Services, Volkswagen continued to integrate innovative and efficient digital applications within the "Volkswagenim" (My Volkswagen) mobile app. The addition of features such as "Online Approval of Co-Signed Vehicle Acceptance Form" and "Online Payment" in 2024 achieved full digitalization in customer service processes, enhancing post-sales experience. As a result, the mobile app reached an average of 52,000 active monthly users and facilitated 4,000 monthly service appointments. Additionally, Volkswagenim's satisfaction rating on the App Store and Google Play Store improved from 4.7 to 4.8 stars, maintaining its status as the highest-rated automotive sector app in terms of user satisfaction.
Moreover, in 2024, all pages under the After-Sales Services category on the Volkswagen Passenger Cars website underwent a comprehensive update. Lead form redirections were redesigned to
offer multiple options, including appointment forms, chatbots, and live support, enabling customers to access after-sales information more easily and efficiently.
Volkswagen Passenger Cars continued providing service at 81 locations. In 2024, a total of 537,134 vehicles were serviced at authorized centers, with an average of 44,761 customers receiving monthly support.
With the launch of the ID.4 and ID.7 at the end of 2024, Volkswagen Passenger Cars made a strong entry into the electric (BEV) market. In December, the ID.4 became the third best-selling model in the BEV segment.
MARKING THE HIGHEST NUMBER OF SERVICE ENTRIES IN ITS HISTORY.
189,436
the range of electric vehicles persist, Audi Türkiye has raised the bar by introducing the Audi Q4 e-tron, which was ranked first in the EcoC1 test of the 2024 ECOBEST Challenge conducted by the independent international organization AUTOBEST. With its launch in August, the Audi Q4 e-tron and Audi Q4 Sportback e-tron have won consumer appreciation with their design, performance, and range, reinforcing Audi's distinctive presence in the electric vehicle market.
Considering global and national economic conditions, Audi Türkiye has pursued a cautious yet determined approach in sales and after-sales services, achieving a total of 19,700 units sold in 2024.
The A3 Sportback, which led its category the previous year, closed the year with 1,465 units sold. The combined sales of the A3 Sedan, A3 Sportback, and the newly introduced A3 Allstreet reached 4,837 units. The A4 Sedan and A4 Allroad recorded 2,651 units, while the A5 family totaled 1,338 units. The A6 family reached 2,596 units, the A7 Sportback achieved 190 units, and the A8 recorded 78 units. In the electric segment, the Q4 e-tron and Q4 Sportback e-tron together reached 604 units, while the e-tron GT and RS e-tron GT models had a combined total of 45 units. Among the SUV models, the Q2 recorded 1,838 units, while the Q3 SUV and Sportback models reached a combined total of 3,434 units. The Q5 SUV and Sportback models accounted for 127 units, the Q7 reached 40 units, and the Q8 and RS Q8 models together recorded 25 units. The Q8 e-tron and Q8 Sportback e-tron models collectively reached 402 units. These figures reflect Audi Türkiye's strong market presence and commitment to maintaining its leadership in the premium automotive segment.
Audi Türkiye also reinforced its commitment to sustainability by expanding the use of renewable energy across its operations. As part of Doğuş Otomotiv's Solar Energy System (GES) project, the number of Audi Authorized Dealers and Service Centers transitioning to renewable energy continues to grow.
Audi Türkiye continues to set an industry benchmark with its exemplary after-sales service initiatives implemented each year. Supported by these initiatives, the brand achieved a record-breaking milestone in 2024, with 189,436 vehicles entering Audi Authorized Service Centers. This remarkable achievement was accompanied by a 34.5% increase in accessory sales and a 37.5% rise in Audi boutique sales, demonstrating the company's commitment to enhancing customer experience.
Reflecting Audi AG's evolving approach to industry trends, technology, and sustainability, the new "This is Audi" communication concept was introduced to consumers for the first time in 2024. Implemented by Audi Türkiye on social media towards the end of the year, this new strategy will continue to gain momentum in 2025.
Reflecting Audi AG's transforming brand and communication strategy, the "This is Audi" concept was first introduced to consumers in 2024.
Continuing its expansion in the electric vehicle segment, Audi introduced the Q4 e-tron and Q4 Sportback e-tron models to the Turkish market in 2024.
IN 2024, SEAT & CUPRA BRANDS 5
LAUNCHED A TOTAL OF 5 NEW PRODUCTS, MARKING A SIGNIFICANT PRODUCT INITIATIVE.
Model performance and Authorized Dealer Network The CUPRA brand achieved a total of 9,633 vehicle sales in 2024. The CUPRA Formentor, with its 100% CUPRA DNA, became one of the most preferred models
in the compact SUV segment, recording 6,987 retail sales and a segment share of 2.4%.
With the opening of the CUPRA City Garage at the Galataport location, the CUPRA brand expanded to a total of 30 sales points. In the second half of the year, the brand launched sales of the New Formentor, New Leon, the first 100% electric model Born, and the new flagship SUV model Terramar. With investments in Authorized Dealers in Adana, Çorum, Eskişehir, Malatya, and Tekirdağ, CUPRA also commenced sales activities in these locations in 2024.
The SEAT brand achieved a total of 12,470 retail sales in 2024. The Ibiza model ranked 7th in its segment with 2,074 sales, while the Arona secured a 2.8% market share with 4,879 sales in its segment. The Ateca, in the compact SUV segment, recorded 4,142 sales with a market share of 1.4%, and the Leon in the
compact hatchback segment achieved 1,087 sales with a 2.8% market share.
In 2024, SEAT Authorized Services, operating at 49 locations across Türkiye, served an average of 8,450 customers per month, with a total vehicle entry of 101,400, the highest number to date, including approximately 29,500 CUPRA vehicles. Customer retention initiatives introduced for the first time in 2024 supported customer loyalty, with mobile campaigns offering discounts for vehicles aged two years and older. Additionally, maintenance campaigns for vehicles aged five years and older included special discounts for the Ibiza and Leon models, as well as the Arona and Ateca. In December 2024, vehicle fleet loyalty increased from 47% to 51% compared to December 2023 data.
Digitalization accelerated across all service processes, with the implementation of the Warranty RPA project to automate business processes and the Hot Alert project for customer satisfaction management. In 2024, the Customer Complaint Prediction project, utilizing
Awards, where the introduction of the brand's new model, CUPRA Terramar, also took place.
Aiming to stand out with its sporty identity, CUPRA continued to represent padel sports in Türkiye in 2024. The brand has been one of the partners of the FIP TOUR 2024 events, which featured many athletes from around the world.
For the first time, SEAT & CUPRA Authorized Service teams participated in CUPRA Tribe training, with online and face-to-face sessions held in Spain and Türkiye. Additionally, Authorized Dealer teams were informed about new models
and technologies, while quality and brand training initiatives enhanced their competencies. Following the training, sales teams in various roles were included in the international sales certification process, aligning their representation capabilities for SEAT and CUPRA with brand standards.
artificial intelligence and machine learning technologies, was made available to Authorized Services.
To create a quality service experience, the CUPRA Customer Delight concept was launched in 2024, incorporating the CUPRA Tribe package and the CUPRA Promise package, which offers various exclusive benefits. The customer experience survey score for after-sales services reached 4.85 out of 5 in 2024, ranking first globally.
CUPRA made a strong start to 2024 with The Electric Impulse event and maintained visibility throughout the year by incorporating electronic music, sports, and unconventional collaborations. Various launch activities were held throughout the year for the New CUPRA Leon, New CUPRA Formentor, CUPRA Born, and New CUPRA Terramar.
The year 2024 began with the visit of SEAT S.A. Global President Wayne Griffiths and concluded with his visit for the opening of the 10th CUPRA City Garage worldwide at Galataport İstanbul. This significant opening earned CUPRA the "PR/Event of the Year" award at the ODMD 2024 Gladiator
With the opening of CUPRA City Garage in Galataport İstanbul, the CUPRA brand has reached a total of 30 points of sale.
ŠKODA ACHIEVED ITS HIGHEST SALES VOLUME IN TÜRKİYE TO DATE IN 2024 WITH 43,972 VEHICLES SOLD.
Škoda crowned its growth journey in Türkiye in 2024 by reaching the highest sales volume in its history, with a total of 43,972 units sold. The updated and refreshed product portfolio once again highlighted Škoda's potential, playing a key role in this sales achievement.
In the Turkish automotive and light commercial vehicle market, which grew by 0.5% in 2024, Škoda increased its total sales by over 25%, capturing a 4.5% market share. Globally, Škoda's sales also rose by 6.9%, reaching 927,000 units. Thanks to its high growth performance, Türkiye has become one of the top three markets with the highest sales volume.
Škoda, offering a wide portfolio with seven main models, achieved its best-selling model in Türkiye in 2024, with the Octavia selling 11,616 units, followed by the Kamiq with 9,280 units. The segment leader, the Superb, maintained its strong position with a sales performance of 9,305 units. The Scala stood out with 3,889 units sold, attracting interest from both corporate and individual
customers, while the Fabia concluded the year with sales of 3,255 units.
Among the most preferred models in the SUV segment, the newly updated Škoda Kodiaq, launched in the Turkish market in August 2024, reached sales of 3,724 units within five months. The Karoq, Škoda's compact SUV, demonstrated a sales performance of 2,903 units.
2025 will be a year of continued innovation for Škoda, with a focus on electrification. In March, the updated Kodiaq RS version, along with the Superb Sportline trim, will be launched in Türkiye.
In May, Škoda's first fully electric compact SUV, the Elroq, will be introduced, along with the updated designs of the Enyaq Coupe and Enyaq SUV. Škoda aims to differentiate itself not only with its electric vehicle offerings but also by providing a unique customer experience through new services. This includes investments such as the installation of 360 and 120 kW fast-charging stations at Škoda Authorized Dealers and Service Centers, and the provision of
In digital showrooms, access to vehicle information has been rendered easier through digital information stands, reducing the need for printed materials and contributing to the company's sustainability strategy by lowering its carbon footprint. In 2024, Škoda digitalized 32 service points and aims to convert all Authorized Dealers and Service Centers into digital showrooms in 2025.
a Mobile Charging Vehicle to address the range anxiety of electric vehicle users - unique investments for Türkiye.
Škoda Türkiye's website, www.Škoda.com.tr, won the Silver Award in the Consumer Information category of the Horizon Interactive Awards, thanks to its rich content and user-friendly design. The new design makes the website more accessible, allowing customers to reach the products and services they need more swiftly through the fast menu module.
In line with its digitalization strategy, Škoda primarily focuses on enhancing customer experience and contributing to sustainability by modernizing its service points in Türkiye. Through this initiative, customers can view Škoda models not available in the showroom in high resolution using Video Wall technology. Additionally, the tablet-supported SST program ensures continuous interaction between sales consultants and customers.
Škoda achieved a record-breaking sales performance in 2024.
In 2025, Škoda will enter the electric car market and aims to realize an experience that will also distinguish itself in terms of service.
IN 2024 BENTLEY INTRODUCED THE NEW CONTINENTAL GT WITH AN ULTRA-PERFORMANCE HYBRID ENGINE, WHILE LAMBORGHINI OFFERED A FULLY HYBRIDIZED PRODUCT RANGE WITH THE TEMERARIO.
Founded in 1919 by railroad engineer Walter Owen Bentley, Bentley Motors has established itself as a quintessential British brand, known for producing some of the most prestigious and luxurious cars in automotive history since the early 1910s. Today, the brand continues its journey under the Volkswagen AG umbrella.
Automobili Lamborghini was founded by Ferruccio Lamborghini in 1963, with production commencing in the Italian city of Bologna from the outset. Following Audi AG's acquisition of all shares in 1998, Lamborghini experienced rapid growth, introducing new models that featured powerful, cuttingedge technology.
In 2024, Bentley Motors unveiled the fourth generation of its successful Continental coupe series, now equipped with a plug-in hybrid engine. The new Continental GT, the most powerful Bentley ever produced, was first launched in the Speed
version. Emphasizing both luxury and sportiness, the new Continental GT Speed generates 782 HP and an unprecedented 1000 Nm of torque through its Ultra-Performance Hybrid V8 powertrain. This represents nearly a 20% increase in power over the previous Continental GT Speed, allowing the model to accelerate from 0 to 100 km/h in just 3.2 seconds and reach a maximum speed of 335 km/h.
The completely redesigned exterior of the new Continental GT Speed features a single oval headlight with sharp LED elements that immediately draws attention. The vehicle showcases a glossy black front grille, and sporty details such as air intakes and side sills. The fluid lava design of the taillights complements the car's overall aesthetic, featuring dark-tinted lenses that are consistent with the design's smoked effect throughout.
Initially introduced at the 2014 Geneva Motor Show, the Lamborghini Huracán is preparing to make way for the Temerario, which boasts a V8
In 2024, both Bentley and Lamborghini prioritized communication through Instagram as part of their global marketing and communication strategies, alongside ongoing initiatives for special news feeds and magazine advertisements.
biturbo hybrid engine produced entirely in Lamborghini's factory. Aligned with the brand's future vision, the Temerario combines a V8 engine designed by Lamborghini engineers with three electric motors (two on the front axle and one between the engine and transmission), generating a total combined power of 920 HP. The Temerario achieves 0 to 100 km/h in just 2.7 seconds, establishing a new benchmark in the hybrid supercar segment with a maximum speed exceeding 340 km/h. The Lamborghini Temerario features 13 different driving modes, including a drift mode.
With the Temerario, Lamborghini completes its transition to electrification. Following the Revuelto and Urus SE, the Temerario becomes the third model in the Lamborghini High-Performance Electric Vehicle (HPEV) series. This strategy, part of Lamborghini's 'Direzione Cor Tauri' plan, positions the brand as the first luxury car manufacturer to offer a fully hybridized product lineup.
The Temerario is expected to be available for sale by the end of 2025, with a waiting period of approximately two years from order to delivery.
Lamborghini unveiled the Temerario, the third model in its High Performance Electric Vehicle range, in 2024.
In 2024, British luxury car manufacturer Bentley introduced its most powerful model ever with its Ultra-Performance Hybrid engine, the New Continental GT Speed, while Automobili Lamborghini introduced the brand's second hybrid model, the Temerario.
achievement, with a 27% growth
and sales of 629 units. In 2024, Porsche renewed its entire model lineup, including the Taycan, Panamera, Macan, and 911, and launched four new models. With the introduction of the 100% electric Macan in October and the refreshed Taycan model, the proportion of electric vehicle sales increased, totaling 530 units. The Cayenne saw a 21% increase in sales, reaching 210 units compared to the previous year.
In 2024, investments in electric vehicles continued to progress. Significant steps were taken to provide charging and service facilities for electric vehicles.
Charging Station Investments: Over 500 charging stations servicing Porsche and other electric vehicles have been made accessible to customers through the Porsche Mobile application. Additionally, more than 2,000
charging units have been installed free of charge for Porsche Taycan users for home and workplace use.
Fast Charging Stations: A 360 kW fast charging station was completed in Mersin in 2024, making it one of the fastest DC charging stations in Türkiye. Furthermore, 165 charging stations have been opened with an investment of 480,000 euros.
Battery Repair Centers: In addition to the Battery Repair Center opened for electric vehicles at Doğuş Oto Kartal, three new battery repair centers have started operations in Doğuş Oto Maslak, Vosmer Bornova, and Arca Bursa in 2024. By 2025, a total of six battery repair centers will be operational.
Partnership: In collaboration with Total Energies, 360 kW DC charging stations have been established at six locations along the İzmir-İstanbul Highway. Additionally, the installation of six new charging stations is planned for the first half of 2025.
On-Road Charging Project: Launched in 2024, the "On-Road Charging" project aims
automotive press and Porsche enthusiasts at a Meet & Greet event at Galataport Clock Tower Square.
Throughout the year, various driving and promotional events for new electric models were organized as part of Authorized Dealer marketing communication. In October, the opening event for Porsche Center Antalya was held under the renewed "Destination Porsche" concept. In December, a New Year celebration was organized at Adile Sultan Palace with Porsche enthusiasts to mark the 20th anniversary of the Porsche Club İstanbul.
In response to the rapidly increasing electric vehicle fleet, three new high-voltage battery repair centers have been opened in 2024 at Doğuş Oto Maslak, Vosmer Bornova, and Arca Bursa, raising the total number of repair centers to six. The number of High Voltage Specialists has also increased to 11 during the year.
Thanks to Porsche's customer loyalty initiatives, along with Porsche Service, accessory, boutique, and after-sales marketing efforts, service revenues increased by 183%, and accessory sales
rose by 41% in 2024. The General Customer Satisfaction score for Porsche services exceeded expectations.
Expansion efforts at Doğuş Oto Maslak Service have increased capacity for electric vehicle repairs. In 2024, the "Porsche Business Excellence" processes were completed at Arca Bursa and Başaran Antalya Authorized Services. Additional fire safety measures have been implemented in workshops to ensure safer service for electric vehicles.
In 2024, it is focused on software infrastructure integrations with Porsche AG in order to increase process efficiency. Within the scope of improving customer experience, enhancements to the Porsche Mobile application continued.
to repurpose idle/used battery modules from Porsche Taycan vehicles for various applications. A mobile charging station has been developed to serve Porsche users.
Project: In line with sustainability goals, Doğuş Otomotiv has initiated the Battery Disposal Project for the Porsche brand in 2024. This project facilitates the recycling of idle batteries, providing traceability through the "Battery Passport" and making significant contributions to battery recycling efforts.
Porsche Center Mersin has been renewed under the "Destination Porsche" concept. The digital vehicle configuration combines digital technology with an impressive physical experience, offering visitors a forward-looking and innovative environment.
In 2024, Porsche highlighted the launches of its four refreshed models. The year began with the "Overfeel" themed launch event for the new Taycan at Zorlu Performance Arts Center in May, where the Taycan Turbo GT was introduced in Türkiye. In June, the new Taycan and the fully electric Macan were showcased to the
PORSCHE RENEWED ITS ENTIRE MODEL FAMILY IN 2024 AND LAUNCHED 4 NEW MODELS.
Volkswagen Commercial Vehicles achieved a remarkable 26.9% growth compared to the previous year, selling 22,435 units in 2024, maintaining its position as the third-largest player in a Light Commercial Vehicle market that contracted by 2.7%.
Brand performance in 2024 In 2024, the light commercial vehicle market saw a 2.7% contraction, resulting in 258,168 vehicle sales. Volkswagen Commercial Vehicles recorded sales of 22,435 units, reflecting
a 26.9% increase. The brand captured an 8.7% share of the light commercial vehicle market and an 11.8% share in the imported commercial vehicle segment, ranking third overall.
The Amarok model sold 3,552 units, securing a 21.1% market share and ranking second in its segment. The Transporter model sold 5,624 units, also achieving second place with a 17.0% market share. The Caddy model recorded 11,012 sales, with a 13.1% market share, placing it sixth in its category, while the Crafter model achieved 2,247 sales, reaching a 3.2% market share.
The ID. Buzz, Volkswagen Commercial Vehicles' first fully electric model and a key part of its transition to an emissionsfree future, was launched in September.
The new generation of the Transporter, a legendary model since its introduction in 1950, made its world premiere at
the IAA Transportation Fair in Hannover on September 15, 2024. The Panel Van version of the new Transporter was launched for sale in Türkiye in December as the first market in all over the world.
Volkswagen Commercial Vehicles showcased the Amarok model to a select audience at the Frozen Festival in Erzurum Palandöken from February 22-25, 2024, where off-road test drives were conducted. Another PR event held in Alaçatı and Urla districts of İzmir, from May 20-22, 2024, under the slogan "Amarok in All its Forms, You in All Your Forms" allowed participants to experience the Amarok in nature and off-road conditions.
In conjunction with the launch of the ID. Buzz, a static press launch took place on September 26, 2024, at Tersane İstanbul Taşkızak Hall, followed by a dynamic press launch from September 30 to October 4, 2024, themed "With a Spirit from the Past, the Energy from the Future". The dynamic press launch event awarded first place in the "Best Influencer Campaign" category at the ACE of M.I.C.E Awards 2025.
The brand continues to pioneer innovative, customer-focused initiatives across social media platforms, boasting over 1 million followers on Facebook and more than 150,000 on Instagram and YouTube, while enhancing customer satisfaction through online services.
The SEO development efforts for the Volkswagen Commercial Vehicles website have been ongoing, while personalized marketing strategies have been refined to boost website traffic and facilitate quicker access to model information for visitors. A dedicated page for fleet customers has also been created, and the VWTogether mobile application, developed for the teams of both Volkswagen Commercial Vehicles' distributor and Authorized Dealers and Service, has been launched.
In 2024, Volkswagen Commercial Vehicles continued to operate 69 Authorized Dealers and 80 Authorized Service locations across Türkiye. Authorized Services recorded an annual intake of 139,325 vehicles, averaging 11,610 vehicles per month.
The "Kazandıran Servis (Winning Service)" campaign, focused on customer loyalty in After-Sales Services, was utilized by 30,231 customers in 2024. Additionally, various campaigns for original parts benefited 39,789 customers during service visits.
According to the data announced by Volkswagen AG, Volkswagen Commercial Vehicles After-Sales Services Türkiye ranked first in customer satisfaction surveys conducted in 32 countries, based on criteria such as Satisfaction with Attention Given, Satisfaction with Organizational Processes, Satisfaction with Quality of Work, and Overall Satisfaction.
With the "Volkswagen Commercial Vehicles Mobile Service" initiative, 1,350 customers across Türkiye received maintenance and express service at the location of their vehicles in 2024. Since its launch in 2019, a total of 5,041 customers have benefited from this service.
In 2025, Volkswagen Commercial Vehicles plans to expand its product range with the launches of the Pure and GTX versions of the ID. Buzz, as well as the New Transporter City Van and Window Van, New Caravelle, New Multivan, New California, and New Crafter Kombi models. The brand will continue to enhance its product offerings, incorporating rapidly evolving technology into its communication efforts and services, to increase its market share in the light commercial vehicle sector while maintaining a strong brand image.
Volkswagen Commercial Vehicles' first all-electric model, the ID. Buzz, went on sale at the end of September.
2,868
33,247 UNITS.
In 2024 Scania reached market share of %8,6 with sales of 2,868 units in the total Heavy Commercial Vehicle market of 33,247 units in Turkey. With this result, Scania ranked first in the imported heavy vehicle market.
In July 2024, vehicles compliant with the GSR2 regulation, which mandates advanced safety features, were introduced. Additionally, a new digital instrument panel designed for more efficient, safe, and comfortable driving was launched, featuring the new "Smart & Safe" interface that offers more interactive information, entertainment, and control options.
The New Scania SUPER, which operates with 50% improved thermal efficiency compared to the previous generation and consumes up to 8% less fuel, continued to be the preferred choice for customers due to its reduced carbon emissions. In comparative tests conducted by two independent industry magazines, the exceptional performance of the Scania SUPER model earned Scania the "Green Truck" award for the 9th time.
Scania also introduced its new electric powertrains in 2024. The new powertrain and battery combinations, capable of supporting a total loaded weight of 42 tons and a range of up to 550 km, were showcased at IAA Hannover 2024.
Scania Türkiye operates with 12 Authorized Dealers and 17 Authorized Service points nationwide. In 2024, the number of vehicles serviced at Scania Authorized Services increased by approximately 15%.
In 2024, Scania Türkiye continued to strengthen its leading position on social media platforms. The brand achieved over 240,000 followers on Facebook, reflecting a 5.26% annual growth, and surpassed 96,200 followers on Instagram, with a growth rate of 13.17%. YouTube saw a significant annual growth rate of 15.65%. The first two episodes of the #SuperTercih video series, featuring experiences shared by Scania SUPER users, reached over 2 million views. The delivery ceremony for 500 Scania SUPER vehicles to Sağlık Lojistik at
with the Customer and Driving Experience Unit.
Scania aims to reduce CO2 emissions from operational activities by 50% and productrelated emissions by 20% by 2025 as part of its global goals, with a plan to achieve carbon neutrality by 2040.
In 2023, Scania Türkiye launched the "Environment-Friendly Dealer" project to contribute to an environmentally conscious and sustainable future. This project promotes the use of renewable energy, carbon footprint measurement, and participation in eco-friendly practices among Authorized Dealers and Services nationwide. Currently, 35% of Authorized Dealers meet their energy needs from renewable sources. Since 2023, a seed ball has been planted in nature for every Scania vehicle sold.
As of 2024, Scania Türkiye has successfully completed pilot studies at the dealers on the "Carbon Footprint Measurement Project" in alignment with its global climate crisis goals. The scope of these efforts is planned to expand to six Authorized Dealers in 2025.
Galataport also garnered a total of half a million views on YouTube and Instagram.
In 2024, the "Scania'm Cepte" application (Scania Türkiye Mobile App) reached approximately 16,250 downloads and continues to be updated with the goal of staying one step ahead in digital developments. As part of the dynamic reporting efforts, the "Scania Authorized Dealer Report" was implemented in 2024, enabling all Authorized Dealers to conduct real-time data analysis. Scania Türkiye became the first brand among Doğuş Automotive brands to receive the Information Technologies and Communications Authority certification for connected vehicles.
Throughout the year, training for all employees at Scania Authorized Dealers and Service points was completed. The development processes of teams preparing for certification were supported through training in five distinct categories. Additionally, safe and economical driving training was completed for 485 corporate and fleet customers in collaboration
In 2024, Scania reinforced its success by achieving leadership in the import market. Aiming to expand its sustainable business model and transportation approach to its entire sales and after-sales network, Scania launched the carbon footprint measurement and reporting process in 2024.
Scania was awarded the "Green Truck" award for the 9th time due to the superior performance of the Scania SUPER model in independent tests.
Scania Türkiye aims to continue communicating the advanced features of the SUPER model to users and to be a partner in sustainable transportation solutions. Efforts related to fuel savings and reducing total operating costs through economic and safe driving training will continue into 2025. Additionally, projects aimed at reducing environmental impact through carbon footprint measurement reporting at Authorized Dealers will be implemented. Authorized Dealers and Services that fully comply with the sustainability roadmap will be awarded the "Environment-Friendly Dealer Certificate".
FOR YEARS, THERMO KING HAS BEEN THE TOP CHOICE FOR TRANSPORTATION COMPANIES IN THE REFRIGERATION UNIT SECTOR, MAINTAINING ITS MARKET LEADERSHIP IN 2024.
In 2024, Thermo King launched the Advancer A500, the market's most powerful cooling unit, with its initial deliveries in Türkiye. The innovative Advancer A500 Series stands out with its cuttingedge technology, delivering maximum fuel efficiency to reduce operational costs while contributing to sustainability.
Thermo King is committed to providing sustainable solutions for the transportation sector with its zero-emission trailer refrigeration systems. The fully electric Advancer-e model is compatible with various power sources, making it an ideal solution for the future of transport - 100% electric vehicles.
By eliminating emissions entirely, Advancer-e operates without harming the environment while delivering high efficiency and robust performance. This makes logistics operations more eco-friendly and supports the industry's efforts to reduce its carbon footprint.
With the Advancer Spectrum and SLXi Spectrum units, Thermo King enables the transportation of goods at different temperatures within the same trailer, addressing a critical industry need. This innovative technology of Thermo King ensures the safe and efficient transport of products with varying temperature requirements, enhancing operational efficiency and transportation flexibility.
Thermo King refrigeration units safeguard product quality throughout the supply chain. Equipped with "TouchPrint" and "TouchLog" printers, these units provide customers with comprehensive temperature reports throughout the shipment process.
In pharmaceutical logistics, Thermo King solutions comply with international Good Distribution Practice (GDP) guidelines, ensuring the highest industry standards. By offering certifications and training, the brand continues to expand its role in the healthcare sector, delivering enhanced efficiency and traceability for industry professionals.
Building on its 2023 project developments, Thermo King introduced its maintenance contract program in 2024. This initiative ensures that units are serviced and repaired by Authorized Service Centers using original parts, guaranteeing long-term, trouble-free operation. Maintenance contracts not only optimize unit performance but also minimize the risk of malfunctions, increasing overall operational efficiency. This project reinforces Thermo King's customer-centric approach by extending equipment lifespan and enhancing user experience.
With the most powerful cooling capacity on the market, Advancer A500 Series offers maximum fuel efficiency, reducing operational costs and contributing to sustainability.
Thermo King, a brand that defines the standards for cold chain transportation, continued its success in 2024 by offering temperaturecontrolled logistics solutions tailored to diverse needs.
Thermo King remains dedicated to enhancing the service quality of its Authorized Dealers and Service teams. In 2024, the company continued its training and technology updates, significantly improving the efficiency of its Authorized Dealer and Service network. Committed to maximizing customer satisfaction, Thermo King aims to introduce new initiatives in 2025 to further enhance the performance of its Authorized Dealer and Service network.
Meiller, designed to deliver toplevel performance even in the most challenging conditions, is one of the leading players in the semi-trailer and tipper sector worldwide, promising durability and longevity. Resuming its services in the Turkish market under the distribution agreement signed with Doğuş Otomotiv in 2023, Meiller has increased its number of Authorized Dealers and Service Points across Türkiye to 11 by adding two more Authorized Dealer and Service Points in the second half of 2024.
In 2024, the brand also expanded its product range to include a hydraulic tailgate semi trailer tipper model.
In 2024, Meiller implemented training programs aimed at enhancing the technical knowledge and skills of its employees, organizing specialized training sessions for sales and service consultants. These trainings have been observed to significantly contribute to improving customer satisfaction and service quality.
Meiller Türkiye actively engaged with users on social media starting in January 2024 and took steps to strengthen its digital presence by initiating website design and development efforts in the second quarter of 2024.
To enhance brand awareness, product videos were published on the YouTube platform, and local training videos were created to highlight product features and details.
MEILLER HAS SOLD A TOTAL OF 130 UNITS IN 2024. In September, Meiller participated in the 2024 IAA Transportation fair held in Hannover, Germany, engaging with the industry press to showcase products and technology available in the Turkish market.
Meiller will continue its efforts in 2025, focusing on increasing brand awareness and market share in the semi-trailer and tipper market.
Starting from 2025, Meiller Türkiye will provide seed balls to nature for every product sold.
Meiller Türkiye, one of the leading brands in the semi-trailer and tipper sector, continues to increase its market position with its high performance and durability in challenging conditions.
In 2024, Meiller added a hydraulic tailgate semi trailer tipper model to its product range.
As one of Europe's three major trailer manufacturers, Wielton achieved a total of 145 trailer sales in Türkiye in 2024 following the distribution agreement on trailers and semi-trailers. Of these sales, 128 were curtain semitrailers while 17 were platform semi-trailers.
Wielton entered the market in March 2024 with 14 Authorized Dealers and expanded this network to 16 throughout the year. Additionally, in May, a distribution agreement was signed with Aberg Service Sp. z o.o., allowing customers to access after-sales services such as warranty, spare parts, and repairs through Authorized Services at 15 locations.
In 2024, Wielton launched training programs for its dealers network, providing specialized training for sales and service consultants. These trainings have significantly contributed to enhancing customer satisfaction and service quality.
Wielton actively engaged users through its social media accounts starting in January 2024 and initiated website design and development projects in the second quarter of the year as part of its efforts to strengthen its digital presence.
The Wielton Sustainable Transport Event held at Galataport in December drew attention with its environmentally friendly approach and creative projects. During the event, workshops were conducted with children and young people focusing on the recycling of waste tarpaulins from Wielton's curtain semitrailers. This event not only strengthened the brand's sense of social responsibility but also made a notable impact in the industry with its emphasis on environmentally conscious transportation.
Starting in 2025, Wielton aims to further its sustainability efforts by shooting seed balls for all products sold, reinforcing its commitment to environmental stewardship.
AFTER THE DISTRIBUTORSHIP AGREEMENT IN TÜRKİYE, WIELTON SOLD 145 SEMI-TRAILERS IN 2024.
Wielton aims to increase its brand awareness in the trailer market in 2025. The brand plans to expand its portfolio with curtain and platform semi-trailers of various specifications to meet customer needs, targeting a broader customer base. Collaborations with the tractor unit product line are expected to provide turnkey solutions for both domestic and international fleet customers.
Wielton, with which Doğuş Otomotiv signed an agreement for the distributorship of trailer and semi-trailer products in Türkiye in November 2023, made a rapid entry into the Turkish trailer market in 2024.
In March 2024, Wielton entered the Turkish market with 14 Authorized Dealers and expanded its dealer network to 16 during the year.
ACHIEVING A RECORD-BREAKING 7,607 SALES IN DECEMBER, DOĞUŞ OTO CLOSED THE YEAR WITH 46,127 NEW VEHICLE SALES AND 2,329 PRE-OWNED VEHICLE SALES, MARKING A HIGHLY SUCCESSFUL YEAR.
Doğuş Oto provides new and pre-owned vehicle sales, spare parts, accessories, and aftersales services for Volkswagen Passenger Cars, Volkswagen Commercial Vehicles, Audi, Porsche, SEAT, CUPRA, and Škoda brands it represents in İstanbul and Ankara. Additionally, it offers fleet sales services and operates as an authorized DOD dealer. With operations in four regions - Ankara, Esenyurt, Kartal, and Maslak - the company serves customers through 28 Authorized Sales and 26 Authorized Service points. Supported by a workforce of over 1,100 employees, Doğuş Oto continues to strengthen its stable and leading position in the industry.
In 2024, Doğuş Oto demonstrated strong performance, selling 46,126 new vehicles, 2,329 preowned vehicles, and handling 206,659 service entries.
its market leadership through key investments. The company launched the 10th CUPRA City Garage location, "CUPRA City Garage İstanbul", at Galataport İstanbul. Additionally, a new training hall was opened
at Doğuş Oto Kartal, while the Maslak DOD Venue was renovated and modernized. By becoming a National Vehicle Recognition System (UTTS) Authorized Installation Point across all regions, Doğuş Oto once again proved its ability to meet all customer needs in one location.
As part of its technological investments in 2024, Doğuş Oto introduced "D-One Start", a new service within its Smart Fleet Management System D-One. Designed for businesses, this eco-friendly solution enhances efficiency by enabling seamless vehicle pool sharing and streamlined management among employees and departments via software and a mobile application. The reservation and vehicle assignment system simplifies usage, while detailed reporting improves fleet oversight. Additionally, by optimizing vehicle utilization, reducing carbon footprints through an eco-friendly approach, and supporting sustainable company management, the system helps businesses save both time and costs.
In 2024, Doğuş Oto implemented comprehensive marketing strategies to enhance brand awareness, increase service and sales volume, strengthen customer loyalty, and boost satisfaction. Social media campaigns reached a broad audience, generating 46 million views and 2.9 million interactions. Additionally, targeted communication was maintained through SMS campaigns reaching 2.4 million recipients. The company organized 43 events, including vehicle exhibitions, test drives, and exclusive gatherings, alongside 36 promotional and launch events throughout the year.
As of 2024, Doğuş Oto successfully completed certification audits and obtained TÜRKAK-approved (TÜRKAK: Turkish Accreditation Agency) ISO certifications: ISO 9001 (Quality Management System), ISO 14001 (Environmental Management System), ISO 45001 (Occupational Health and Safety Management System), and ISO 10002 (Customer Satisfaction Management System). The company remains committed to sustainability, safety, and customer satisfaction and will continue these efforts in 2025.
In 2024, Doğuş Oto accelerated digital process development efforts with a customer-centric approach. As part of its data governance efforts, the company undertook projects to enhance data quality and optimize data asset management. Analyses of customer data sets led to actionable insights, and a smart reporting tool was developed to measure data quality. By successfully completing 52 digital process development projects, Doğuş Oto has elevated its operational efficiency and customer experience to new heights. Additionally, the redesigned Doğuş Oto website and Doğuş Oto Tires website now offer a more user-friendly experience.
In 2024, Doğuş Oto earned several prestigious national and international accolades:
Doğuş Oto serves its customers with 28 Authorized Sales and 26 Authorized Aftersales Service points in 4 regions and more than 1,100 employees.
Continuing its efforts to add value to its employees, environment and customers with its innovative perspective, Doğuş Oto continued to successfully provide services in 2024 with its quality certificates and sustainability approach.
As of the end of 2024, the total value of Doğuş REIT's investment property portfolio - including Doğuş Center Maslak, D-Ofis Maslak, Doğuş Etiler Sports Center, Gebze Center Mall, Gebze Center Hotel, and Gebze Center Automotive Showroom & Service - amounted to 14.8 billion TRY.
The number of visitors to Gebze Center Mall, part of Doğuş REIT's portfolio, continued to rise in 2024, reaching approximately 12.3 million, up from 11.5 million in 2023. In line with the positive developments in the retail sector throughout 2024, new lease agreements further strengthened the mall's occupancy rate, surpassing 99% by year-end.
As of the end of 2024, Doğuş REIT's investment property portfolio - including Doğuş Center Maslak, D-Ofis Maslak, Doğuş Etiler Sports Center, Gebze Center Mall, Gebze Center Hotel, and Gebze Center Automotive Showroom & Service - encompassed a total leasable area of 195,000 square meters, with a total appraised value of 14.8 billion TRY.
In 2024, rental income from properties reached 801.57 million TRY, operating profit amounted to 1.009 billion TRY, and net profit stood at 978.18 million TRY.
As a reflection of Doğuş REIT's diligence in complying with the Corporate Governance Principles and its sensitivity to continuous improvement in the BIST Corporate Governance Index each period, the company's compliance rating with the Corporate Governance Principles increased from 9.53 in 2023 to 9.58 in 2024.
Sustainability has remained a key focus for Doğuş REIT, and as of 2023, the company took a significant step forward by integrating its long-standing corporate governance, environmental responsibility, and corporate social responsibility initiatives under a unified sustainability framework.
As the first step in this transformation, the company updated the Duties and Working Principles of its Corporate Governance Committee to encompass sustainability efforts. Throughout 2024, work continued at full pace to prepare Doğuş REIT's first Sustainability Report, which was publicly released in December 2024 in full compliance with international standards.
GEBZE CENTER MALL REACHED 12.3 MILLION VISITORS IN 2024 AND WITH NEW LEASES, THE OCCUPANCY RATE EXCEEDED 99%.
Covering a total leasable area of 195 thousand square meters, Doğuş REIT's real estate portfolio includes 90 thousand square meters of Class A office space, 158 hotel rooms, 12 auto showrooms, 5 TV studios, 3 radio studios, 124 stores, 31 cafes-restaurants, 10 cinema halls, 3 gyms, and a parking lot with a capacity of 3,150 vehicles.
TOTAL SALES BY THE DOD ORGANIZATION REACHED 19,096 UNITS IN 2024.
19,096
In 2024, the used car market experienced a stagnant year due to factors such as high financing costs, difficulties in accessing credit and sales campaigns for new vehicles.
DOD's Brand Management sales amounted to 1,005 units, and a total of 19,096 vehicles were sold through 62 DOD Authorized Dealers in 29 provinces. Group brand vehicles under the Doğuş Otomotiv umbrella accounted for 53% of total sales.
Throughout the year, continuous vehicle supply was ensured for the Authorized Dealer network. In collaboration with vdf Fleet, nine exclusive auctions were held for DOD Authorized Dealers, resulting in the sale of 570 vehicles.
In 2024, Doğuş Otomotiv began offering display advertising space on digital platforms for the first time. By November, revenue generation had begun through advertisements displayed on DOD.com.tr and the DOD Mobile app.
A reporting system was developed in 2024 for the Vehicle Recommendation System, which was introduced the previous year to provide data-driven alternative used vehicle suggestions to users searching on DOD's digital platforms. This enabled recommendation performance tracking and ongoing project enhancement through feedback mechanisms.
The "DOD Online Auction Platform", which facilitated sealed-bid auctions in 2023 and 2024, was rebranded as the "DOD Open Auction Platform" at the end of 2024 with the introduction of an open bidding option. This enhancement maintained a fair trading environment while increasing competition. A total of 56 vehicles were sold through 14 auctions conducted on the platform.
The DOD Mobile app has been downloaded to approximately 1.2 million mobile devices, making it one of the most preferred applications in this field.
In 2024, the focus was placed on enhancing quality within the Authorized Dealer network, leading to the renewal of Authorized Dealer agreements and the Quality Standards Procedure. By the end of 2024,
Launched in 2023 as Doğuş Otomotiv's first initiative in consumer-to-consumer trade, the sensat.com listing platform continued to be enhanced in 2024 with new categories and features. Expanding its scope, the platform added a marine vehicles category to its existing portfolio of automobiles, off-road vehicles, SUVs, and light commercial vehicles. Secure payment integration was introduced, enabling the sale of individual listings, listing packages, and badges. Additionally, content-
based and personalized recommendation systems were implemented. Development efforts for the platform will continue in 2025.
"The Regulation on the Trade of Used Motor Land Vehicles" was repealed following the publication of the broader "Regulation on the Trade of Motor Land Vehicles" in the Official Gazette (Issue No. 32645, dated August 27, 2024), which applies to the entire automotive market. Additional development and integration efforts were undertaken to ensure compliance with the new regulation.
42 out of 62 Authorized Dealers had been aligned with the new corporate identity. Efforts to ensure corporate identity compliance within the Authorized Dealer network will continue in 2025.
With the participation of Aykan Gebze, Erçal Sancaktepe, Erçal Bornova, Erçal Çatalca, and Lena Bodrum Authorized Dealers, DOD continued to provide corporate used vehicle trading services across 62 sales locations in 29 cities. Additionally, the recently approved Vimsa Gaziantep Authorized Dealer is expected to become operational in the first quarter of 2025.
In 2025, the continuation of corporate identity compliance efforts and the expansion of locations across Türkiye aim to deliver DOD's high-quality services to a broader audience.
Digital advertising campaigns to enhance brand awareness continued throughout the year. Additionally, local communication initiatives of Authorized Dealers were supported. Throughout the year, these efforts encompassed billboard, radio, and digital communication campaigns, while platform-specific content
In line with market dynamics, DOD sold over 19,000 used vehicles in 2024. Compliance efforts were carried out within the Authorized Dealer network in accordance with the renewed Quality Standards Procedure; DOD digital platform investments continued.
DOĞUŞ MARINE SERVICES HAS EXPANDED ITS SALES PORTFOLIO BY SIGNING DISTRIBUTORSHIP AGREEMENTS WITH TWO NEW BRANDS IN 2024.
By merging Doğuş Otomotiv's corporate business model with the maritime sector, Doğuş Marine Services offers tailored solutions to meet the needs of sea enthusiasts. In 2024, the company expanded its sales portfolio by signing two new distribution agreements.
Operating under the slogan "Creating customer satisfaction that exceeds expectations", Doğuş Marine Services began providing sales and after-sales services for Novamarine, a premium and professional boat brand in the maritime world, in 2024. Additionally, the company became the Authorized Sales and Service Provider for the high-tech e-foil products branded as "Aerofoils" developed by Audi and Aerofoils GmbH, in Türkiye.
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Initially starting its operations in Göcek and later expanding to Didim, Doğuş Marine Services opened a new service point in June 2024 at D-Marin Turgutreis. The company not only offers mechanical, electrical, and electronic services for its customers in Göcek and Didim, including the lifting and launching of boats but also manages sales and after-sales activities for the Novamarine and Aerofoils brands.
Doğuş Marine Services has successfully concluded a year achieving its goals in domestic and international projects with Scania Power Solutions, which provides marine, industrial, and generator engines. In 2024, the company successfully expanded its existing customer portfolio with a renewed product range in the marine, industrial, and land generator segments, emphasizing customer satisfaction beyond expectations.
Doğuş Marine Services opened its new service point at D-Marin Turgutreis in June 2024.
Looking ahead, Doğuş Marine Services plans to continue its growth through new brand distribution agreements, collaborations, and the establishment of new service points. The company also aims to expand its hangar spaces and target growth in land generators, industrial engines, and the maritime sector in partnership with Scania Power Solutions.
In addition to these goals, Doğuş Marine Services will maintain its focus on innovative digital transformation projects and organizational structures that contribute to its corporate business objectives.
Strengthening its presence in the maritime sector each year, Doğuş Marine Services expanded its business volume in 2024 by incorporating new brands into its portfolio and opening a new branch in Bodrum Turgutreis.
IN 2024, D-CHARGE SECURED ITS PLACE AMONG TÜRKİYE'S TOP CHARGING OPERATORS, RANKING 10TH AMONG 175 OPERATORS WITH A NETWORK OF 350 SOCKETS ACROSS 34 PROVINCES.
The year 2024 marked a turning point for Doğuş Charging Systems, which entered the electric vehicle charging network market with a vision to create a lasting impact. Achieving significant milestones in a short period, D-Charge now provides users with a reliable and accessible charging experience through 350 sockets (130 AC and 220 DC) across 34 provinces in Türkiye. This success has propelled D-Charge to the 10th position among 175 charging station operators in the country.
Launched in May 2024, D-Charge has continuously expanded its technology and service network with a customerfocused approach. A key milestone in this journey was the introduction of the nextgeneration D-Charge mobile application, developed by Doğuş Teknoloji. Dubbed "Version 2", the app was made available on both iOS and Android platforms as of November 1. Featuring an intuitive interface and advanced functionalities, the app quickly
gained traction, reaching 9,700 downloads and 7,000 registered
users in a short time.
D-Charge's operational performance saw a remarkable surge in the final quarter of 2024. In October and November, the number of monthly transactions exceeded 1,000, demonstrating significant growth, while in December, this figure reached 2,000. This upward trend underscores D-Charge's ability to swiftly and effectively meet the daily needs of electric vehicle users.
D-Charge goes beyond being just a charging operator by introducing innovative solutions to the sector. Its advanced mobile application allows users to easily locate charging stations, manage charging sessions, and monitor their charging status in real-time. Additionally, with its cutting-edge design and robust technological infrastructure, D-Charge ensures a seamless and high-quality charging experience.
Building on its strong momentum in 2024, D-Charge has set even more ambitious goals for 2025 and beyond. The brand aims to expand its service network, grow its user base, and establish itself as a leader in Türkiye's electric vehicle ecosystem. With a commitment to user satisfaction, environmentally
friendly solutions, and innovative projects, D-Charge seeks to play a key role in shaping Türkiye's future mobility vision and contributing to a sustainable future.
D-Charge's advanced mobile app allows users to easily locate charging stations, manage charging operations and track charging status in real time.
vdf - VOLKSWAGEN DOĞUŞ FİNANS
IN 2024, vdf ISSUED 33,356 NEW LOANS, REACHING A TOTAL OF 37,338 ACTIVE LOANS.
In 2024, the vdf Group successfully achieved its goals by prioritizing customer satisfaction in delivering products and services through its finance, insurance, factoring, and fleet management companies.
The Group has an average of 20% penetration rate among the Volkswagen Group brands in vehicle loans. Having provided 33,356 new loans in 2024, vdf reached its targets with a total of 37,338 active loans. The total active loan volume of vdf is 23.4 billion TRY.
In 2025, vdf aims to continue to provide the best service to its customers in every step of the automotive value chain by expanding its loan, insurance, and service packages tailored to the needs of its customers.
vdf Insurance achieved the highest level of customer satisfaction in 2024 with its extensive experience and special product range developed to identify and meet customer needs. Operating as an agent of a total of 13 insurance companies, vdf Insurance serves individual and group customers
in several areas such as branded car insurance, traffic, extended warranty, and credit protection insurance.
Operating within the authorized dealers of Volkswagen Group brands, vdf Insurance continues to differentiate itself in the industry by offering specialized coverage that starts with Volkswagen Car Insurance and extends to SEAT, Škoda, Audi, Scania, CUPRA, and Porsche Car Insurance policies.
Preserving its title as the largest insurance agency in terms of total net premium generation and the number of active policies in 2024, vdf Insurance continued its steady growth with a total net premium generation of 4.7 billion TRY. vdf Insurance has also issued a total of 383 thousand policies in 2024.
Having begun its operations in 2010, vdf Factoring offers factoring and financing services to 110 customers, consisting of Authorized Dealers of Doğuş Otomotiv and Yüce Otomotiv across Türkiye. vdf Factoring continued to offer the financial solutions it provides to its stakeholders in the automotive
As of 2024, vdf Fleet Management reached more than 11,000 active contracts, of which 55% were Doğuş Otomotiv group brand vehicles, and followed a strategy focused on efficiency and competent use of human resources. With investments in robotic process automation and ERP applications, vdf Fleet Management has further enhanced its digital solutions in 2024 and will continue to operate with the principle of providing the best service to its customers.
value chain to Doğuş Holding companies through supplier financing in 2024. In this context, the procurement by 19 Group companies from 145 suppliers was financed by vdf Factoring. In 2024, vdf Factoring reached a transaction volume of 187.3 billion TRY and a total asset value of 3 billion TRY.
In the last quarter of 2024, a partnership agreement was signed between vdf Factoring and Borusan Makina, a leading company in the construction machinery and power systems sector. Through this collaboration, vdf Factoring began offering financing solutions to Borusan Makina's Caterpillar authorized dealers and customers, aiming to add value to its partners and increase its business volume in 2025 by adhering to principles of continuous and stable growth.
Establishing its presence in the operational leasing fleet industry in 2016, vdf Fleet Management has set out with the vision of not regarding the needs of its customers as car rental alone, but also the vision of providing consultancy in fleet cost optimization, total ownership cost, and fleet management.
vdf Group companies, which deliver their products and services to their customers via mobile applications and websites whenever and wherever they need them, aim to continue their investments in digital development in 2025.
In 2024, the vdf Group successfully achieved its goals by prioritizing customer satisfaction in delivering products and services through its finance, insurance, factoring, and fleet management companies.
Serving in all 81 provinces of
Türkiye through 216 fixed, 75 mobile, 7 motorcycle, and 18 mobile tractor stations, TÜVTÜRK achieved growth across all its areas of activity, particularly in periodic vehicle inspection services in 2024. The company successfully increased its revenue from 12.1 billion TRY to 19.6 billion TRY, representing a 61.8% growth. Of this revenue, 3.4 billion TRY was generated from TÜVTÜRK İstanbul's operations. As Türkiye's most effective public-private partnership project, TÜVTÜRK has contributed 43.3 billion TRY to the public since its inception, with this figure reaching 15.8 billion TRY in 2024.
In terms of traffic safety, approximately 12.5 million vehicles underwent periodic inspections in 2024. Inspections revealed that 27% of these vehicles had major defects or safety issues. Among the 3.3 million vehicles that returned for re-inspection, 97% had their deficiencies and faults corrected, ensuring their safe return to the road.
Independent research has demonstrated TÜVTÜRK's role in reducing traffic accidents caused by vehicle defects and enhancing overall traffic safety. According to a study titled "Evaluating the Efficacy of Periodic Technical Inspections (PTI) on Road Safety and Economic Outcomes in Türkiye," conducted in 2024 by Prof. Wolfgang G. Schulz and Sebastian Scheler from CITA (International Motor Vehicle Inspection Committee), TÜVTÜRK's vehicle inspection system has prevented 5,033 fatal accidents and approximately 219,000 injuries from 2008 to 2022. It is estimated that these prevented accidents resulted in total savings of 22.48 billion TRY between 2008 and 2022.
In 2024, TÜVTÜRK conducted exhaust gas emission tests for 3.9 million vehicles, constituting 31.1% of the periodic inspections performed. Additionally, roadworthiness inspection services were provided at 28 stations, covering 34,854 vehicles.
The Traffic Responsibility Movement, in effect since 2010, operates under the coordination of the Ministry of Transportation and Infrastructure and in cooperation with institutions
partnership with the MAPFRE Foundation. As part of the thematic event "Smart Children Will Build the Smart Cities of the Future" held within the scope of the project, 6,412 'Smart City Models' have been exhibited in a total of 188 primary schools. By June 2024, the project had reached 91,402 students, 182,804 parents, and 3,184 teachers across 600 schools. During the September-December period, 32,846 students, 65,692 parents, and 1,061 teachers from 200 schools were included in the project, with training continuing. By the end of 2024, a total of 124,248 students, 248,496 parents, and 4,245 teachers participated in the project across 800 schools.
Investments aimed at increasing vehicle inspection capacity and service quality continued unabated in 2024. With an investment of approximately 199 million TRY, TÜVTÜRK established three fixed vehicle inspection stations - namely, İstanbul Yüzüncü Yıl, Gaziantep Karataş, and Giresun Görele Çavuşlu - as well as three motorcycle stations located in Antalya Kepez, İstanbul Haramidere, and İstanbul Göztepe. The construction of a new station is currently ongoing.
and organizations working in the field of traffic safety. This movement fosters multi-partner participation to address trafficrelated challenges. Through training and communication activities, it has raised awareness among its partner network, primarily composed of public, non-governmental, and media organizations in the field. Platforms have been established to unite this network towards activities to promote positive behavioral changes in society regarding traffic safety.
common goals, facilitating various
As part of the project, five subprojects, namely "Safe Vehicle Action", "Responsible Citizen Action", "Youth in Traffic Action", "Best Buddies Movement", and "Have A Good Class Mr. Driver", carried out between 2010- 2021, were concluded upon achieving their objectives. To date, approximately 1.5 million people have been directly accessed through training field activities, while approximately 9.2 million people have been reached indirectly through communication activities.
Between 2021 and 2022, a new project called "Smart Children of the City" was initiated in
Having left its 17th anniversary behind in 2024, the number of vehicle inspections carried out by TÜVTÜRK to date has reached 251.4 million. With a cumulative investment exceeding 1.5 billion USD, TÜVTÜRK has contributed 43.3 billion TRY to the public through its services.
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2024 ANNUAL REPORT OUR BRANDS 93
Combining the best modern synergy practices with future technologies through sustainable logistics management, Spare Parts and Logistics ranked among the top European logistics centers within the VW AG world in 2024 based on spare parts availability.
SPARE PARTS AND LOGISTICS IMPORTED 142,793 VEHICLES AND DELIVERED 186,226 VEHICLES IN 2024, ACHIEVING A TOTAL REVENUE OF 10,740.2 MILLION TRY.
Spare Parts and Logistics manages the import, storage, and distribution of vehicles and spare parts from some of the world's most prestigious brands, including Volkswagen, Audi, SEAT, CUPRA, Škoda, Porsche, Bentley, Lamborghini, Scania, Wielton, and Meiller. It also handles Novamarine Boats, Scania Power Solutions, and Thermo King mobile temperature control systems and spare parts.
By integrating the best modern synergy practices with future technologies in sustainable logistics management, Spare Parts and Logistics delivers an unparalleled service for the global brands represented by Doğuş Otomotiv. The implementation of effective pricing and positioning strategies, along with approximately 50% shared parts usage, creates significant synergy within the organization.
To ensure seamless operations, Spare Parts and Logistics employs advanced technologies and stock management systems that swiftly adapt to
changing customer demands. Digitalization initiatives within the scope of Industry 4.0 continued in 2024.
In December 2024, the pilot phase of the "Authorized Service Spare Parts Center Order and Stock Planning Project" was launched. Developed with a customer-focused approach, the project aims to ensure the automatic and timely supply of authorized service centers with the optimal quantity of spare parts. This initiative will enhance spare parts availability, customer satisfaction, and stock optimization.
Spare Parts and Logistics continued to successfully utilize the "direct shipment from port" system in 2024, minimizing delivery times by distributing vehicles directly to authorized dealers. Vehicle discharge, stockyard management, and dealership shipments are managed using RFID (Radio Frequency Identification) technology. Additionally, in line with continuous improvement and digitalization strategies, AI-powered image processing technology was introduced in 2024 for ship unloading processes, with ongoing efforts
service centers, enhancing overall customer satisfaction through: » Carrying out the import and homologation operations of all group brand vehicles, » Safekeeping the VW, Audi, SEAT, CUPRA, Škoda, Porsche, Bentley, and Lamborghini brand vehicles in the warehouse and storage areas, and delivering them to Authorized Dealer, » Ordering, importing, storing, and stock management of the spare parts and accessories of the VW, Audi, SEAT, CUPRA, Škoda, Porsche, Bentley, Lamborghini, Scania, and Thermo King brands and
quantitative component bonus criteria goals and achievements
The priority goals of Spare Parts role in spare parts operations,
and Logistics include: » Assuming a strategy-setter creating a vision, and sharing it with brand representatives to add value to Group brands' market share,
Spare Parts and Logistics successfully imported 142,793 vehicles and delivered 186,226 vehicles to authorized dealers in 2024. The year concluded with revenue of 10,740.2 million TRY from spare parts and accessory sales.
to expand its application across all vehicle logistics operations.
The "Smart Shipment Tracking Project", utilizing IoT (Internet of Things) technology, was launched in 2023, marking Doğuş Otomotiv's second project of this kind. By the end of 2024, 69 dealerships and 18 routes were integrated into the system. This IoT-powered system enhances error-free delivery for spare parts shipments, integrating nextgeneration digital equipment with IoT technology to streamline operations and enable real-time tracking.
In 2023, reusable shipment containers were introduced as an alternative to traditional cardboard packaging. With IoT Smart Shipment technology, real-time tracking of container movements and stock became possible. This initiative not only improved operational efficiency but also resulted in a cost savings of 10 million TRY in packaging expenses while reducing environmental impact, aligning seamlessly with VW AG's Net Zero goal.
Spare Parts and Logistics provides high-quality products and services to authorized dealers and
IN 2024, DOĞUŞ SİGORTA ACHIEVED ITS GOALS BY ATTAINING 84% GROWTH.
An experienced intermediary Doğuş Sigorta Aracılık Hizmetleri A.Ş. (Doğuş Insurance), an affiliate of Doğuş Holding and Doğuş Otomotiv, was established in 1984 to offer insurance for the assets and commitments of Doğuş Holding companies in the most operational and costeffective way. Having adopted the principle of providing the best insurance services to its customers within and outside Doğuş Group, Doğuş Insurance carried out its activities in this direction in 2024 as well.
Insurance transactions of all companies in Doğuş Group which operate in eight main industries; automotive, construction, media, food & beverage, tourism & retail, real estate, energy, and technology, were carried out by Doğuş Insurance in 2024. Within the framework of the Doğuş Combined Insurance program, Doğuş Group companies have been provided with significant coverage and price advantages in the assessment and pricing of all risks as well as in the creation of health and life insurance policies in 2024.
In parallel to the fact that Doğuş Group companies operate in different industries, the insurance product range has been diversified and risk assessment updates have been made in all activities conducted throughout the year. Doğuş Insurance has achieved a growth rate of 84% in 2024, surpassing its target, thanks to the services it receives from eight different insurance companies and its team of 14 members.
In 2024, Doğuş Insurance continued to enhance its services through innovative technological applications and investments. Looking ahead to 2025, the company aims to maintain its focus on digital transformation investments in line with industry trends and customer needs.
Drawing on its 40 years of experience, Doğuş Insurance provides its customers with reliable services that stand out in the insurance industry.
96 DOĞUŞ OTOMOTİV 2024 ANNUAL REPORT
the BIST Sustainability 25 and BIST Participation Sustainability Index in 2024.
Borsa İstanbul evaluates companies for inclusion in the index, as well as those currently included, based on criteria such as Environment, Biodiversity, Climate Change, Board Structure, Anti-Bribery, Human Rights, Supply Chain, Health and Security, and Banking.
The BIST-Sustainability Index was created with the mission of guiding companies in the process of creating policies against risks in environmental, social, and corporate governance issues, and providing information to investors about the sustainability policies of companies. The Index has been calculated using the 'XUSRD' code since November 4, 2014. The BIST-Sustainability 25 Index has been published with the code 'XSD25' since November 21, 2022.
Using LSEG's valuation methodology, which includes 3 main headings -environmental, social, and corporate governancealongside 10 categories, 25 themes, and over 500 data points related to these themes, investors can readily access sustainability ratings for the companies evaluated. Relevant stakeholders can access the sustainability data and ratings of the companies that have had sustainability assessments using LSEG Workspace terminals and, except for non-compliance notes, on LSEG's website.
Sustainability data, monitored weekly since 2022, is evaluated four times a year and included in the Sustainability Index by Borsa İstanbul.
As a result of the evaluations, our Company has been continuously included in the BIST Sustainability Index, which consists of the shares of companies traded on Borsa İstanbul and whose corporate sustainability performances are at the highest level, since 2014. According to the latest regulations and evaluation methodology, our company was included in the BIST Sustainability Index in 2024 and continued its stable performance.
Among the company shares meeting the criteria of an overall sustainability score of 70 or above, with each main title score of 60 or above, and at least eight of the category scores being 50 or above, the top 25 shares with the highest transaction volume and market value are selected for inclusion in the BIST-Sustainability 25 Index. Notably, after 2023, Doğuş Otomotiv was included in both
Expectations of a global recession, disruptions in supply chains, and volatility in energy markets have prompted companies to reshape their sustainability strategies. Notebly, newly enacted sustainable finance regulations in Europe and the US have made a stronger emphasis on green investments almost imperative.
Concerns about a global recession stem from an irregular post-pandemic economic recovery and persistently high inflation. In the US and Europe, central banks' interest rate policies have increased credit costs, making access to financing more challenging for businesses. Supply chain disruptions, caused by logistical challenges in China and other major production hubs, raw material shortages, and geopolitical tensions, have led companies to restructure their procurement processes and prioritize local suppliers. Energy market fluctuations have ranged
Doğuş Otomotiv has consistently disclosed information as expected within the Sustainability Principles Compliance Framework. This adherence is by the announcement of the Capital Markets Board, titled "Announcement Made Pursuant to the Decision of the Board Decision-Making Body, dated 23.06.2022, and numbered 34/977", published on the Board's Bulletin dated June 23, 2022, and numbered 2022/32. The disclosed information also complies with the Corporate Governance Communiqué numbered II-17.1. Since 2009, this disclosure has been included in the annual Integrated Sustainability Report. In line with the "Comply or Explain" principle, any factors affecting compliance with these principles, as well as the scope and limitations of data collection, are detailed each year in the appendices of the Integrated Sustainability Report and under relevant sections.
In line with its sustainability commitments, Doğuş Otomotiv aligns its business processes with stakeholders' expectations in environmental, social, and governance (ESG) areas. Our long-term strategy focuses on adopting sustainable practices across our entire value chain, fostering a more responsible business model in collaboration with our stakeholders.
A detailed template related to the topics within the Sustainability Principles Compliance Framework is provided in Appendix 4.
The year 2024 has been marked by significant global and national transformations in sustainability. Economic uncertainties, geopolitical developments, environmental regulations, and digital transformation have led to critical changes in business models.
employment rates have risen globally, while mandatory gender quotas for large corporations have been introduced in some countries. For instance, in the EU, large-scale companies are now required to ensure at least 40% female representation on their boards. Additionally, the adoption of flexible and hybrid work models has expanded, reinforcing policies that support work-life balance. Through awareness campaigns and corporate training programs on employee rights, companies have taken more concrete steps toward fostering an inclusive work environment.
The year 2025 is expected to witness an acceleration of sustainability-driven transformations on a global scale, with companies allocating more resources to adapt to these changes. In line with the anticipated rapid transformation policies, governments, financial institutions, and the private sector will be compelled to implement stricter measures to combat climate change. Additionally, significant advancements are expected in sustainability areas focusing on energy transition, digital transformation, and social development.
By 2025, many countries are projected to announce more ambitious targets for reducing carbon emissions. To meet the EU's 2030 emission reduction goals, more strict monitoring of corporate greenhouse gas reporting is anticipated, leading to an expansion of emission trading systems. Consequently, carbon taxes and border carbon adjustments will drive up costs, particularly for energy-intensive industries. As a result, companies worldwide are expected to increase their investments in renewable energy to align with carbon neutrality targets.
EV research firm Rho Motion, global EV sales reached a record 17.1 million units in the passenger and light commercial vehicle segments in 2024. This represents a 25% increase compared to the previous year, driven in part by four consecutive months of exceptional sales.
Advancements in battery technology have significantly transformed the industry, with new-generation batteries featuring higher energy density, shorter charging times, and increased use of recyclable materials. In addition to lithiumion batteries, investments in sodium-ion and solid-state battery technologies have accelerated. Furthermore, battery recycling and long-life energy storage solutions have emerged as critical areas for sustainable mobility.
Applications based on artificial intelligence (AI) and data analytics have enhanced sustainable business management. The use of advanced algorithms and big data analytics enables companies to optimize energy efficiency strategies and improve resource utilization. Investments in digital infrastructure have enhanced customer experience through personalized solutions, while predictive maintenance and automation systems have reduced costs and improved operational efficiency. Additionally, blockchain technology has strengthened supply chain sustainability, ensuring more accurate carbon footprint calculations.
In 2024, significant developments have also taken place in various social domains. With diversity and inclusion principles gaining prominence, business models promoting equal opportunities have become more widespread, leading to notable progress in employee rights. Global female
from volatility in oil and natural gas prices to an accelerated transition to renewable energy sources. Regulatory measures such as the EU's Carbon Border Adjustment Mechanism (CBAM) have increased carbon pricing in energy-intensive sectors, encouraging businesses to invest in low-carbon energy solutions. Regulations promoting green investments have gained momentum thanks to policies such as the EU's Sustainable Finance Taxonomy and the US Inflation Reduction Act (IRA). These policies channel investments into low-carbon and environmentally friendly projects, fostering sustainable growth. For this reason, it has become inevitable for businesses to increase their investments in areas such as digital transformation, energy efficiency, and supply chain sustainability to achieve their carbon-neutral goals.
The EU's new carbon taxation mechanism (CBAM) encourages businesses to reduce their carbon footprint, while more strict environmental regulations have been introduced for industrial enterprises in Türkiye. CBAM, which came into effect in 2023, requires importers in designated sectors to declare their carbon emissions, as per European Commission regulations. These sectors include cement, iron and steel, aluminium, fertilizers, and electricity and hydrogen production. In Türkiye, new industrial emissions regulations and the transition to a carbon trading system have accelerated in 2024 to comply with the CBAM (Source: European Commission CBAM Regulations, 2023; Republic of Türkiye Ministry of Environment, Urbanization and Climate Change, 2024).
As of 2024, global electric vehicle (EV) sales have increased. According to a report by leading
energy capacity, advancements in energy storage technologies will enhance corporate energy independence. Companies are expected to leverage AI and Internet of Things (IoT)-based energy management systems to optimize energy consumption. Financial support mechanisms promoting clean energy adoption in the EU and the US will accelerate corporate investments in energy transition. By 2030, companies are expected to invest in new technologies to improve energy efficiency and further reduce carbon emissions in their operations.
In 2025, more stringent regulations on employee rights, social equity, and diversity are expected to come into effect. Companies will be required to enhance transparency in their human rights policies and ensure ethical working conditions throughout their supply chains. Additionally, policies aimed at increasing the representation of women in leadership positions will be expanded, and companies will be mandated to provide more detailed reporting on employee rights. Flexible work models and remote work policies will receive greater support to promote work-life balance. An increase in mandatory reporting
will further integrate circular economy principles into the EV sector.
In the global automotive market, the market share of EVs is projected to surpass that of internal combustion engine vehicles. The adoption of innovative materials in production and supply chains is expected to reinforce the implementation of sustainability regulations.
In 2025, supply chain sustainability will become an even more critical priority for companies. Regulations such as the EU Corporate Sustainability Due Diligence Directive (CSDDD) will mandate large corporations to evaluate their suppliers based on ESG criteria. This will drive companies to measure the carbon footprint of their supply chains and adopt more sustainable logistics solutions. Green transportation and lowcarbon logistics will play a vital role in achieving corporate carbon reduction targets. The widespread adoption of green logistics and sustainable supply chain practices is expected.
Renewable energy investments will gain further momentum globally in 2025. In addition to the expansion of solar and wind
The EV market will continue to capture a larger share of the global automotive industry in 2025. According to reports by the International Energy Agency (IEA) and BloombergNEF, global EV sales are expected to account for approximately 35% of total vehicle sales. New incentives introduced in China, Europe, and the US are accelerating the replacement of internal combustion engine vehicles with electric models. To support the development of EV infrastructure, governments are expanding investments in charging stations, prioritizing grid integrations and renewableenergy-powered charging systems.
In battery technology, while lithium-ion batteries continue to improve in efficiency, the commercialization of sodiumion and solid-state batteries is expected to accelerate. Solidstate batteries offer significant advancements in energy density, safety, and cost reduction. Furthermore, new regulations on battery recycling will encourage manufacturers to secure sustainable raw material supplies and increase battery recycling rates. The EU's mandate requiring battery producers to incorporate a minimum percentage of recycled materials by 2025
and increasing stakeholder expectations necessitate a reassessment of corporate risk management approaches. At Doğuş Otomotiv, our sustainability-focused risk management framework is structured to balance financial resilience, environmental responsibility, and social impact. Key focus areas of our business strategy include climate changerelated physical and transition risks, supply chain sustainability, digitalization, and green transformation.
While managing sustainability risks, we also aim to turn emerging challenges into opportunities. Investments in green energy, carbon reduction projects, innovative mobility solutions, and circular economy
covered under relevant sections in its Sustainability Reports.
Doğuş Otomotiv's sustainability management model is based on minimizing environmental impact, strategically managing its social sphere of influence, and implementing robust governance practices.
In today's business environment, sustainability is not only a practice that requires the fulfilment of environmental and social responsibilities but also one that directly influences financial performance and competitiveness. Increasingly stringent global regulations, shifting market dynamics,
and regulatory requirements in the areas of employee rights, social equity, and diversity is anticipated.
Doğuş Otomotiv's sustainability strategy reflects its commitment to sustainability, innovation, and excellence. Designed to create long-term value for stakeholders, the strategy addresses the evolving challenges of the automotive industry, which increasingly demand innovative approaches.
Details on Doğuş Otomotiv's integrated sustainability strategy, aligned with its updated corporate strategy, as well as the outcomes of its double materiality assessment, are comprehensively
as continuous improvement of processes, effective management of risks and opportunities, and full compliance with legal and regulatory requirements, the company integrates its sustainability objectives with its business strategies. The Integrated Management System encompasses all processes of the company, ranging from supply chain management to logistics operations, customer services, and occupational safety practices. This approach promotes efficient resource use, prioritizes employee health and safety, and optimizes carbon footprint management within the framework of environmental sustainability.
Detailed information on corporate sustainability management and any fines paid because of lawsuits filed against our Company on environmental, social, and corporate governance issues are published on the website within the scope of the Global Reporting Initiative (GRI) index every year: https://www.dogusotomotiv.com. tr/en/sustainability/sustainability1/ sustainability-reports
Sustainability-related risks and opportunities, along with our improvement strategies and goals, are shared in detail within the Doğuş Otomotiv Integrated Sustainability Report.
Doğuş Otomotiv adopts an Integrated Management System to enhance operational efficiency, minimize environmental impacts, and maximize employee health and safety by integrating sustainability and quality standards into its business processes. This system is structured in accordance with international standards such as ISO 9001 Quality Management System, ISO 14001 Environmental Management System, ISO 45001 Occupational Health and Safety Management System, and ISO 50001 Energy Management System.
Through this system, which is based on key principles such
initiatives are identified as key competitive advantages. The growing global demand for EVs, advancements in battery technologies, and consumer preferences for sustainable products and services are driving significant transformations in the automotive industry. In this evolving landscape, we continue to integrate environmental and social criteria into our business model, ensuring long-term value creation for our stakeholders.
Doğuş Otomotiv bases its risk management on the COSO framework of Enterprise Risk Management. The Company's processes for identifying and defining risks and opportunities, along with methodologies for risk/opportunity analysis and evaluation, risk calculation and matrix development, identifying appropriate solutions for risks and opportunities, monitoring these, evaluating their frequency, and reporting on these processes have been detailed in the 'Risk and Opportunities, Compliance Procedures', which were prepared in 2023 and published at the beginning of 2024.
the available data published in a three-year comparative format. As a company operating in the sales and after-sales services segments of the automotive industry, we cannot conduct a comparison study since there is no peer reporting within the comprehensive reporting option of the GRI on a local and international basis. Nevertheless,
we actively monitor risks and opportunities related to sustainability, primarily focusing on our key stakeholders, the OEMs, and adjust our targets
accordingly.
In 2021, a survey was conducted based on the United Nations Guiding Principles on Business
and Human Rights for
Companies to identify priority issues on human rights and to manage risk-bearing topics with a risk management perspective. Following a survey conducted
Principles" released by the Drive Sustainability Initiative and utilized by Volkswagen AG have been integrated into the process.
Detailed performances and targets regarding material topics are discussed in detail in the 2023 Integrated Sustainability Report. The EU has updated the Non-Financial Reporting Directive (NFRD) and published the new Corporate Sustainability Reporting Directive (CSRD). In accordance with the regulations that will take effect in 2024, Doğuş Otomotiv will review its reporting systems and continue to communicate its sustainability performance to stakeholders in compliance with the relevant guidelines.
Doğuş Otomotiv's key performance indicators of sustainability are disclosed in line with the material topics, with
Since 2018, the Doğuş Otomotiv Sustainability Report has been subjected to limited assurance by an independent auditing firm and published along with the Audit Report. Since 2021, Doğuş Otomotiv has published an Integrated Sustainability Report and is among the first companies to report in accordance with the European Sustainability Reporting Standards (ESRS) with its 2023 report. Our company aims to be one of the first to prepare the 2024 Sustainability Report in line with the Turkish Sustainability Reporting Standards (TSRS). We will continue to publish integrated reports according to international standards, striving to reflect all requirements of relevant standards and codes in our reports.
The social, environmental, and economic issues that Doğuş Otomotiv directly influences, as well as those impacting its operations, constitute the foundation of its sustainability strategy centered on stakeholder engagement. The impact analysis, which aligns with the expectations of the company's key stakeholders, is regularly reviewed and updated as necessary. The impact study, in connection with the risk management model initiated in 2023, was completed in 2024 and published in the Sustainability Report. The new risk study, centered on the double materiality principle, incorporates the United Nations Sustainable Development Goals, like the approach taken in 2018, with objectives established under these goals. Additionally, since 2020, the "Sustainability Principles Compliance Framework" published by the Capital Markets Board on October 2, 2020, and the "Automotive Industry Sustainability Guiding
in 2022, a workshop was held with the participation of 20 executives from the Company to determine priority topics regarding Human Rights. In the workshop, the United Nations Guiding Principles on Business and Human Rights framework was used for the identified priorities, while indicators from other global standards under the Human Rights heading were also considered. Details regarding the Company's human rights priorities are explained in the 2023 Integrated Sustainability Report.
Being perceived as a company that values stakeholder evaluations, respects the protection of their interests, identifies and continuously monitors their expectations, and delivers creative services beyond those expectations is of paramount importance to Doğuş Otomotiv in terms of its business objectives, strategic growth, and community engagement policies. Doğuş Otomotiv actively takes on leading roles in civil society and professional organizations related to the business world, fostering necessary collaborations and initiatives.
Doğuş Otomotiv's corporate communication efforts and relationships are grounded in the principles of honesty, transparency, information sharing, and dialogue. The communication strategies and practices are managed and executed by the Company's Digital Transformation and Corporate Communications and Sustainability Department. All information shared with stakeholders regarding the Company and its institutional representatives is prepared with an emphasis on the principle of honesty, utilizing accountable and transparent communication methods.
Stakeholder Engagement has long been a fundamental aspect of Doğuş Otomotiv's sustainability strategy, integrated across all brands and operations. However, our Company faces a multitude of stakeholders with varying expectations in different environments, represented by 13 international brands and 14 product groups in Türkiye, more than 2,000 employees, and over 720 service points. Stakeholder expectations can also differ across regions, cultures, and sectors. Therefore, Doğuş Otomotiv defines its key stakeholders as "individuals, groups, and organizations that directly affect the Company's operations and are directly affected by its activities". In alignment with this definition, key stakeholder studies have identified our primary stakeholders as our employees, customers, and the manufacturers (OEMs) of products we directly import, given our focus on direct sales and service activities.
Our Stakeholder Engagement strategy aims to create a responsive and transparent dialogue environment with all key stakeholders, regularly and openly questioning their expectations, and developing solutions or setting goals to meet those expectations.
Doğuş Otomotiv updates and publishes information about the dialogue platforms and frequency of engagement with key stakeholders annually in the Sustainability Report and on the website. https:// www.dogusotomotiv.com.tr/ tr/surdurulebilirlik/strateji-veyonetim/paydas-katilimi/paydaskatilimi1
Environmental sustainability, one of the cornerstones of Doğuş Otomotiv's sustainability strategy, encompasses the commitment to minimize environmental impacts while implementing the Company's growth strategy. Doğuş Otomotiv recognizes the critical importance of sustainability to achieve long-term success in the face of environmental challenges that require the production of products and services under increasingly difficult and evolving conditions.
For Doğuş Otomotiv, environmental sustainability entails a holistic approach to managing its environmental impacts at every stage of its operations, from energy use and emissions to waste management and resource conservation. This approach reflects the Company's policies, strategies, and performance targets aimed at reducing its environmental footprint and supporting sustainable development.
Doğuş Otomotiv is taking strategic steps to integrate environmental sustainability into its business processes, enhancing energy efficiency, reducing carbon footprint, and ensuring effective management of natural resources. By 2024, the renewable energy usage rate is expected to reach 77.62%, with a target of 100% set for 2030. The Company meets a significant portion of its electricity needs from renewable sources through its solar energy investment at the Şekerpınar Logistics Center.
In the struggle against climate change, projects are being developed to control energy consumption and greenhouse gas emissions, while circular economy practices are being adopted. In 2024, a total energy consumption of 5,628.6 MWh was recorded, with a significant portion derived from renewable energy sources. Additionally, issues such as
STAKEHOLDER MAP
AUTHORIZED DEALERS AND SERVICES SUPPLIERS INVESTORS SUBSIDIARIES AND AFFILIATES DOĞUŞ OTOMOTİV COMMUNITY Employees OEM Customers
our Company achieved a rating of 9.79 in the BIST Corporate Governance Index, positioning it among the best-performing companies in Türkiye. Following its initial year of disclosure in the BIST Sustainability Index, our Company has successfully maintained its presence every year, and in 2022, it entered the newly introduced BIST 25 Sustainability Index, ranking highly in sectoral evaluations by LSEG.
Doğuş Otomotiv also conducts various programs to inform and raise awareness among its affiliates, suppliers, Authorized Dealers, and Service Centers within the value chain, encouraging them to be transparent regarding their non-financial performance. In 2024, our subsidiary, Doğuş REIT, published its first Sustainability Report in accordance with international standards. Our Company will continue to promote sustainable practices and global reporting across all affiliates and subsidiaries.
The rapid transformation and changes in the automotive sector in terms of technology, innovation, and digitalization over the past five years have highlighted the significant responsibilities companies like Doğuş Otomotiv must assume in terms of their sphere of influence. At the core of efforts to foster the economic and social development of societies is this sphere of influence, which places the private sector at the center of the objectives outlined in the UN's Sustainable Development Goals.
Doğuş Otomotiv believes that understanding stakeholders' social, economic, and environmental expectations,
and organizations within Doğuş Otomotiv's value chain and forms the basis of its stakeholder engagement strategy. Transparency and accountability involve continuously enhancing our capacity to respond by providing comprehensive information about our performances that address the concerns and expectations of our stakeholders, as well as establishing mechanisms for measurement, evaluation, and feedback.
Since 2011, Doğuş Otomotiv has been evaluated in the Borsa İstanbul Corporate Governance Compliance Index, and since 2015, in the Borsa İstanbul Sustainability Index. These assessments measure companies' transparency and performance in social, environmental, and governance areas against standardized indicators worldwide. In 2024,
waste management and water consumption are monitored in line with sustainability objectives, and Authorized Dealers and Service Centers are encouraged to transition to environmentally friendly energy usage. The Company's environmental performance and detailed information can be found in the Integrated Sustainability Report.
The sustainability management system, which is part of Doğuş Otomotiv's corporate strategy, is defined as the establishment of targets across all prioritized social, environmental, managerial, and economic issues throughout the Company's operational processes, with a holistic approach, stakeholder engagement-oriented platforms, and a commitment to continuous improvement. This system encompasses all institutions
enhancing its ability to respond to these expectations, determining future strategies based on them, and accurately analyzing these expectations to foresee risks and opportunities are crucial for sustainability.
In this context, since 2017, Doğuş Otomotiv has published the United Nations Sustainable Development Goals index within the scope of its Integrated Sustainability Report, disclosing
its performance in line with these objectives. Our Company continues to include the subgoals of priority areas aligned with these objectives and its corporate performance related to them in the content of the Integrated Sustainability Report.
Doğuş Otomotiv has also been a signatory of the United Nations Global Compact (UNGC) since 2010 and has included the UNGC index in its Sustainability Report
for 14 years, which is published on the Company's website. In 2022, our Company became a signatory of the United Nations Women's Empowerment Principles (WEPs) and began reporting its performance in this area within the WEPs framework.
disclosed, outlining the company's commitment to employee engagement, satisfaction, health and safety, equal rights, open and transparent communication, direct dialogue platforms with senior management, and sustainable employment goals. Key Focus Areas and priorities of Human Resources in 2024 were:
Effective communication management is crucial for implementing HR processes efficiently at Doğuş Otomotiv. All HR-related practices are
The vision and strategy of Doğuş Otomotiv Human Resources are shaped by the company's commitment to "creative service beyond expectations", placing people at the center while prioritizing experience, development, and satisfaction. The vision of Doğuş Otomotiv Human Resources is to become Türkiye's most preferred automotive company through innovative and sustainable HR practices that create a shared culture and make colleagues feel valued. In line with this vision, the Human Resources Policy is designed to ensure that employees:
» Sustain high performance over the long term.
Doğuş Otomotiv aims to develop a workforce and systems that will drive the organization into the future amid the rapidly digitalizing automotive sector. To support and advance digital transformation, the company strengthens employees' existing and future competencies while creating an environment conducive to developing digital business models and agile workspaces.
On this journey, Doğuş Otomotiv embraces the core values of Doğuş Group—exploration, passionate engagement, courage, cultural stewardship, innovation, and experience orientation embedding them into its processes and projects while fostering these values among all its colleagues.
In addition to the Human Resources Policy, the "Employees and Good Work Environment Policy" has been publicly
its tradition of special day celebrations and communication initiatives:
shared with the Company's midlevel management. To enhance employee engagement, an Engaging Leadership Workshop was conducted, providing these managers with insights into behaviors and perspectives that foster engagement, as well as strategies for addressing areas of improvement. Managers then set targets for enhancing team loyalty and incorporated employee engagement objectives into the performance system for monitoring purposes. This biennial research initiative will be repeated in 2026 to assess the impact of the actions implemented in 2024.
In the 2024 survey, Doğuş Otomotiv and Doğuş Oto received high scores from their employees in the Engagement, Agility, Engaging Leadership, and Talent Focus indices. As a result, they were recognized as one of Türkiye's Best Workplaces under the Kincentric Best Employers 2024 Program.
Another key platform for employee feedback is the Biriz Employee Committee, where representatives from all departments are selected voluntarily and convene four (4) times a year. Additionally, an Employee Representative is also selected from among these representatives. The Employee Representative is chosen through a vote held among those nominated for this position by the Committee members. The representative presents employeerelated issues, determined annually by the Committee members, to the Executive Board and Board of Directors. In 2023, the proposal submitted by the Employee Representative to the Board, which recommended "private health insurance support for employees' children aged 18-23 who are students", was accepted and implemented in 2024.
As in previous years, Doğuş Otomotiv continued in 2024
communicated to employees via email, the Teams Communication Platform, and HR Business Partner Managers. To enhance engagement, the Biriz (We're One) Mobile Communication Platform, launched in 2023 for field employees at Doğuş Otomotiv, was extended to all Doğuş Oto regions in 2024, ensuring that all employees become part of the Company's internal communication and remain constantly connected.
Employee feedback, suggestions, and expectations are considered in company decision-making through various channels, including engagement surveys, the Biriz Employee Committee, regular meetings with senior management, focus groups, performance management programs, and leadership and mentoring initiatives. Insights derived from the collected data drive necessary adjustments to the Company's strategies and policies.
As part of these efforts, a total of 11 communication meetings were held, tailored for each department of Doğuş Otomotiv, starting in December 2023 and continuing in January 2024. These meetings provided employees with updates on HR policies and changes, addressed their questions, and gathered valuable feedback that contributed to shaping 2024 HR and Process Management projects.
In 2024, Doğuş Otomotiv conducted an employee engagement survey with 657 participants. Engagement rates, which stood at 64% in 2019 and 72% in 2022, reached 84% in 2024. Based on survey results, focus groups were established, and their insights and recommendations were presented to the HR Director by the team members. Additionally, the research findings and focus group outcomes were
To support the career development of our team, which has an average age of 28, and to strengthen social connections, various events have been organized:
Through these initiatives, we contribute to the career development of our team members while fostering a strong team spirit.
In 2024, our "Dialogue Hub" communication team won a bronze award in the "Human Resources Team of the Year" category at the Stevie International Business Awards for their work in employee experience, communication, and well-being.
At Doğuş Otomotiv, wellness programs are designed comprehensively to address the needs of colleagues and are
Throughout the year, Doğuş Otomotiv brings employees together in various organizations outside of special occasions. Below are some examples of these activities:
tickets to Fuerza Bruta Wayra and Kenan Doğulu concerts.
TIt is clearly stated in the Doğuş Otomotiv Fundamental Rights and Responsibilities Procedure that all full-time colleagues at Doğuş Otomotiv have equal rights and that each co-worker is one of Doğuş Otomotiv's key stakeholders.
The company provides the following benefits:
Investment Tools" Webinar with
» "Parenting in the Digital Age"
In addition to the above, Doğuş Otomotiv continued its collaboration with Multisport Card in 2023, covering 50% of employees' membership costs. In 2024, 221 colleagues benefited from this program, reporting a satisfaction score of 4.8 out of 5, enjoying access to any gyms and sports facilities that the institution has a partnership with.
A free psychological counseling service was also introduced through an external provider, offering our colleagues professional support. Additionally, our colleagues can access Avita's 24/7 Live Support Line for various topics including psychological, legal, and travel consultation services at no cost.
organized under the GOWell Development Program. This program aims to support employee well-being in the following dimensions::
Physical: Focuses on maintaining physical health by adopting an active lifestyle, regular exercise, balanced nutrition, and adequate sleep.
Mental: Aims to strengthen mental health, and provides strategies to cope with stress, utilizing meditation and similar techniques, fostering continuous learning and personal development, and enhancing mental capacity.
Emotional: Focuses on establishing healthy social relationships, developing empathy, increasing skills in coping with emotional difficulties, and understanding and managing own emotional state. Social: Organizes workshop
activities based on colleagues' hobbies and interests identified through surveys conducted in the last two years.
Financial: Focuses on budgeting and maintaining income-expense balance, developing savings habits, and achieving financial goals with investment and savings plans.
An annual wellness survey determines the focus areas for the year, guiding the program's activities. The 2024 survey identified the following GOWell key themes:
The following activities were organized in this context:
Doğuş Otomotiv's "Dialogue Hub" communication team won the bronze award in the "Human Resources Team of the Year" category at the Stevie International Business Awards.
In the last week of 2024, Doğuş Otomotiv Volunteers delivered New Year gifts to students of the İskenderun Karapelit Ali Tekten Primary and Secondary School.
the year, the most successful ones are rewarded with a gift certificate on the Idea Platform.
» Enthusiast: This award is presented by the managers of the relevant brand or department to promptly recognize the success of their colleague. As part of this award, recipients receive a gift certificate, the amount of which is reviewed annually, along with a plaque indicating their achievement. The plaque is presented by the manager in the presence of the recipient's teammates.
In addition to the Blue Steering Wheel Awards, three new recognition programs were launched.
» Instant Reward Application: A special reward system targeting specific and immediate topics for field employees was launched in 2024.
In 2024, the company introduced the "Did You Know?" initiative to periodically communicate fringe benefits.
Doğuş Otomotiv's "Mavi Direksiyon" (Blue Steering Wheel) Awards recognize employees in three categories:
» Trailblazer: Among all the projects implemented during
» Continuation of salary and social security payments during maternity leave, with the company's share of government maternity benefits paid directly to our colleagues,
At the Idea Platform, where colleagues can share all kinds of ideas, these ideas are evaluated, implemented and rewarded.
Approximately 330 million TRY was generated from the ideas and projects shared by employees, and this amount increased to 460 million TRY when including the Authorized Dealer and Service network.
The Idea Platform encourages not only the emergence of new ideas but also aims to track the continuity of implemented ideas and projects. In this regard, a new initiative has been launched in 2024 to monitor the current status of ideas and projects. With this system, it is possible to track whether ideas and projects implemented in previous years are still active today. This enables assessments of whether the added value from past implementations is ongoing and identifies areas that require updates, while also providing opportunities for new developments.
Ideas with the potential for widespread implementation from these improvement projects were presented to all employees by project owners at the "Fikirlerin
and the impact it creates in its category. This system rewards not only the idea owner but also Lean Leaders who ensure the continuity of the process and Team Leaders who implement the idea, each earning different amounts of "Idea Coin" based on the value added. As a result of this award system, the number of ideas shared increased by 52% compared to the previous year, with employees submitting 2,341 ideas in 2024. Of these, 535 ideas were approved, and 523 were implemented. This initiative has significantly increased our employees' motivation to generate innovative and creative ideas while also enhancing employee engagement and process improvement speed.
Additionally, each year, teams implement various process improvement projects in areas such as efficiency, quality, cost savings, additional revenue, customer experience, employee satisfaction, sustainability, social awareness, and occupational health and safety. In 2024, a total of 166 projects were launched at Doğuş Otomotiv and Doğuş Oto.
» Multido: This initiative was implemented to promote additional roles within the Company and to reward colleagues who voluntarily take on roles outside their areas of expertise. Roles such as Business Owner, Lean Leader, and Internal Trainer, which involve voluntary participants, contribute to the development of both Doğuş Otomotiv and our colleagues while enhancing collaboration and harmony within the Company.
Throughout 2024, colleagues who met the established reward criteria were rewarded with a Biletix (ticketing platform) gift voucher or had the option to participate in a certification program valid at select universities.
The changing structure of the business world, along with evolving expectations and conditions, requires companies today not only to manage their employees but also to engage in dialogue with them, challenge their expectations, and provide channels for direct communication of their suggestions and feedback regarding business processes to senior management. This participation fosters a more efficient work environment, establishes an innovative and competitive company structure, and cultivates healthier relationships with other stakeholders through employees.
To create effective and sustainable improvement activities, a new reward system called "Idea Coin" has been introduced on the Idea Platform, which enables employees to share their creative and innovative ideas about internal applications or business processes. Each idea submitted is now scored based on its innovativeness, potential for widespread implementation,
The owners of the best ideas and projects had the opportunity to share their projects with other employees at the "Fikirlerin Doğuş Günü" (Birth of Ideas Day), which was organized to spread creative projects and inspire the emergence of new ideas.
Doğuş Otomotiv plans its Human Resources and employer branding processes meticulously to attract the best talents and provide them with a satisfying experience for personal growth.
The recruitment process is managed end-to-end according to the requirements of the Personal Data Protection Law. The recruitment process at Doğuş Otomotiv starts with the Digital Recruitment platform when the manager of the relevant department examines the Human Resources budget through the system and opens a system request. The opened request is published on the Company website, Doğuş Holding's recruitment page, and the relevant recruitment platform, again integrated with the announcement on the system. In addition, career opportunities are also published on portals such as LinkedIn, Youthall, Toptalent, and 100s Club.
In candidate applications, the digital application form, supported by RPA (robotic process automation) integration, is automatically filled with the candidate's resume information, and once onboarding is completed, personal records are automatically created.
During face-to-face interviews, a special vehicle transfer service is provided for candidates in collaboration with an agreed transportation company. Candidates approved for hiring can obtain their health documents for free at contracted hospitals in various locations.
step, in 2022, a working group composed of representatives from various brands and functions of the Company was formed to determine priorities and raise awareness in accordance with international human rights laws, culminating in the first Human Rights Workshop held in December 2022. In 2023, the working group responsible for human rights gathered to evaluate the results of the Human Rights Workshop and continued to follow up on them in 2024.
The third principle of Doğuş Otomotiv's Ethical Principles, titled "Justice and Equality", is defined as "We treat all our stakeholders and each other fairly and refrain from discrimination." Doğuş Otomotiv follows an "Employees and Good Work Environment Policy" independent of religion, language, race, color, gender, age, ethnicity, disability, citizenship status, or other social statuses protected by legal regulations.
Doğuş Günü" (Birth of Ideas Day) event. In 2024, projects in the Sales, After-Sales Services, and Marketing domains were shared with all employees during this event, which aims to inspire the dissemination of projects and the emergence of new ideas.
At the Ideas Birth Day graduation ceremony held with the slogan "Keep It Simple, Keep It Smart!", 92 employees who were the owners of the best ideas and projects selected among these ideas and projects received their awards from the senior management. At the same time, six new Lean Leaders who successfully completed the Lean Leadership Training Program received their certificates.
Aiming to spread the culture of continuous improvement to our Authorized Dealer network and benefit from the development of business processes with the participation of employees, expansion of the Idea Platform to the Authorized Dealer network through the Drive department continued in 2024.
In 2020, a Human Rights Manager was appointed, and a working group was established to determine Doğuş Otomotiv's priorities in the field of human rights, with training provided to this group.
Doğuş Otomotiv was one of the first companies in Türkiye to publicly share its corporate Human Rights Policy in 2010.
Doğuş Otomotiv adopts the "United Nations Guiding Principles on Business and Human Rights" and believes it should serve as a role model for respecting human rights. In 2021, a manager responsible for human rights was appointed, focusing on process management in the evaluation of existing and potential risks. As a next
presentations, Scania service visits, spare parts warehouse tours, vehicle inspections, and engaging games. Additionally, during the #Doğuşlubirgün event, club representatives from seven different universities gathered at Doğuş Otomotiv Plus+ Galataport venue to discuss career and development opportunities, as well as the Doğuş 3.0 culture.
To strengthen collaborations with vocational high schools, a "Vocational Education Cooperation" protocol was signed between Doğuş Otomotiv and Tuzla Borsa İstanbul Vocational High School and İzmit Vocational and Technical Anatolian High School.
In 2024, 24 project-based interns at Doğuş Otomotiv received 32 person-hours of training. The Introduction to Professional Life, Professional Conduct and Image Training, and Advanced Excel Usage courses were delivered in person, while the Business Intelligence, Artificial Intelligence 101, Philosophy of Digital Transformation, Machine Learning Techniques, Design Thinking and Innovation, Effective
Otomotiv participated in the career days of 33 universities in 2024, met with students on online and face-to-face platforms, and provided information about the automotive industry. In addition, students applied to the "Biz'De Staj" (Internship with Us) program through career platforms such as Kariyer.net, LinkedIn, and Youthall. In 2024, 70 university interns, 16 high school interns, and 73 project-based interns completed their internships at Doğuş Otomotiv. Furthermore, 15 interns who completed their internships in 2024 transitioned to permanent positions within the company.
In 2024, employer branding activities included "Kampüs Biz'de" (Campus with Us), "Meslek Biz'de" (Profession with Us), and #Doğuşlubirgün (A Day with Doğuş) events. In partnership with Anbean (a brand communication and youth agency), experience days were held on four different dates with university and vocational high school students, allowing a total of 138 students from 11 different universities and five vocational high schools to gain firsthand insights into Doğuş Otomotiv through company
Upon completion of the recruitment process, candidates are directed to the WeUp mobile application for orientation. All information about the company can be accessed through this application. New employees receive a welcome package, and on their first day, a companion is assigned to help them easily understand the daily workflow of the department. The companion supports the new colleague throughout all processes.
To ensure new employees get to know the company closely and adapt quickly, orientation programs are organized periodically with the participation of representatives from all departments. A Navigation Booklet is provided on their first working day. Through this program, various department managers present their work areas and the company to new employees, allowing them to gain comprehensive insights. Additionally, an e-orientation video, along with mandatory training on Occupational Health and Safety, Personal Data Protection Law, and Information Security, is shared with employees on their first day.
As part of the "You Are the Future - New Graduate Program", 16 new graduate colleagues who began working in different departments in 2023 participated in a 208 hour training program with various content supporting their personal development. In 2024, they focused on children in the corporate social responsibility projects they launched as part of their development plans. Colleagues who completed all training modules and social responsibility projects received their certificates at a graduation dinner.
Within the scope of talent acquisition and employer branding activities, Doğuş
The "Kampüs Biz'de" event, organized in cooperation with Anbean, aims to introduce the automotive world and Doğuş Otomotiv to students more closely.
Through this system, proposed development programs based on identified competencies were communicated to all employees via automatically triggered visual emails.
The Competency Assessment System, Performance Assessment System, global trends, company strategies, and development needs collected from one-onone meetings with managers were analyzed to determine the training and development program for 2024 for employees at all levels. Throughout the year, various classroom trainings, online webinars, workshops, and activities were organized according to the established calendar.
In 2024, the Human Resources training and development team completed the training period with a coverage rate of 94% at Doğuş Otomotiv and 100% at Doğuş Oto.
In this context:
» Under the Manager Development Program, "Empowering Collaborative Dialogues", "Competition in the Age of Big Data: Productive Artificial Intelligence and
in Harvard Business Review, Doğuş Otomotiv improved its position and entered the top 20 most preferred companies in the country. The Company also ranked 17th among engineering students and 15th among students in Economics and Administrative Sciences.
At Doğuş Otomotiv, employees' development needs are fed by a continuous flow of information from various Human Resources practices. Information obtained from the following three processes is analyzed on an individual basis to determine the development needs for the relevant year:
As a result of all analyses conducted to meet needs at Doğuş Otomotiv, the "Personalized Training Recommendation" system continued to be used in 2024, ensuring that colleagues receive development content aligned with their competencies that are open to improvement and participate in programs.
Presentation Design Techniques, Coping with Uncertainty, and Stress Management courses were conducted online.
Through the career site kariyer. dogusotomotiv.com.tr, candidates can easily access information about Doğuş Otomotiv's areas of operation, functions, working model, development programs, and available opportunities, as well as view career opportunities. In 2024, the average monthly site visit reached 6,650, totaling 79,789 visits for the year.
Doğuş Otomotiv's career website won a Silver Award in the Human Resources / Jobs category at the Horizon Interactive Awards, where digital design and interactive media projects are globally recognized. In terms of human resources activities, employee satisfaction, and talent management, Doğuş Otomotiv was listed among Türkiye's best employers in the Top Companies to Work list by Toptalent in September 2024.
Furthermore, in the Universum Türkiye's Most Attractive Employers 2024 research, conducted at 61 universities across Türkiye and published annually
continued under the GOWell umbrella.
To ensure sustainable success and professional development for blue-collar employees at Doğuş Oto, the "Difference Makers in the Workshop" program incorporated "Teamwork and Collaboration
new managers define their leadership styles. Our Future Growth Program was honored with the Bronze Award for the "Best Leadership Development Program" in the Leadership Development category by the Brandon Hall Group. » Under the Supportive Development Program, a two-day training titled "Focus on Success: The Journey to Excellence at Work" was introduced for warehouse staff in Spare Parts and Logistics, covering stress management and concentration. These training sessions will continue in 2025 for additional groups. » At the Value and Care Center, team leaders participated in the "Leader's Compass" program, focusing on personal awareness, managerial communication, emotional intelligence, coaching leadership, and management mastery. Follow-up training sessions are planned for 2025. » Doğuş Oto directors took part in two-day training sessions on "Exploring How Across Generations" and "Artificial Intelligence and Business Development Strategies". » Content designed to support employees' physical, mental, and psychological well-being
Business Development Applications", and "Leadership from History" training were provided to Doğuş Otomotiv and Doğuş Oto managers in 2024.
At the "Meslek Biz'de" events, students from different vocational high schools have a special experience day where they can get to know Doğuş Otomotiv closely.
Training" this year. Conducted outdoors, this program covered problem-solving, decision-making, project management, planning, communication, teamwork, adaptability, creativity, and goal alignment competencies. A total of 13 groups and 264 employees participated, with further sessions scheduled for 2025.
Supportive Training Programs continued in 2024, with 70 employees completing German language training, 50 completing English language training, and 75 completing Advanced Excel courses.
Based on a survey conducted at Doğuş Otomotiv ve Doğuş Oto in 2024, five different workshops were organized with the participation of 322 colleagues:
Believing in the importance of accessible education, Doğuş Otomotiv transitioned its
Training and Development Platform, "GO" (Growth School), to mobile, enabling employees to access online training and instructional videos anytime via their smartphones. Currently, 87 training modules in different competencies are available on the platform.
Doğuş Otomotiv, which consistently focuses on development and change, continually updates all systems and programs used in its digitalization processes as needed. The company digitally oversees all its operations through various tools, including the Informatics system, Human Resources Management System (HRMS), Dynamic Self-Service HR Platform, D-Human 4.0 Performance Management System, GO Gelişim School Learning Management System (LMS), Bilişim BI Analysis and Reporting, a Recruitment Platform compliant with the Law on the Protection of Personal Data, and the ORA - Office Reservation Assistant application, introduced alongside hybrid working arrangements in 2023.
At Doğuş Otomotiv, performance evaluation is conducted based
on department/brand and individual employee assessments, resulting in a performance score. At the start of each year, the company aligns its targets with its financial and strategic objectives, translating them into departmental and brandspecific goals. Workshops are held to introduce new initiatives and projects planned for the year, focusing on each brand and department. These identified focus areas are subsequently presented to the Executive Board and Board of Directors as part of the budget planning process. Following this, individual goals are determined to achieve departmental and brand objectives. The established targets are entered into the D-Human 4.0 system, which monitors the entire process. Targets are tracked throughout the year and revised with manager approval when necessary, while evaluations commence in the last quarter. The performance evaluation process starts with employees assessing their own goals, followed by the final evaluation result formed through interviews and feedback sessions with their managers. Since each target has a defined goal, lower limit, and upper
limit, the resulting score during evaluation is calculated by the system based on the realization rate within these limits. The expected performance standard set by Doğuş Otomotiv is to attain 100 points out of a total of 120 points. In the final step of the performance evaluation cycle, the company identifies development areas and explores new areas of focus to achieve sustainable success.
The D-Human 4.0 platform, used for performance management, is built on the HumanSoft infrastructure. The management of the platform and the planning of developments are coordinated in collaboration with Doğuş Technology and Genbil.
The results of performance management are viewed as a function that provides information to measure employee development and identify opportunities. Evaluation outputs continuously contribute to training and development plans, talent analysis, and career and compensation management areas.
Additionally, in 2022, a target coaching team was established to provide guidance and coordination regarding the performance process among brand and department employees as part of the performance process change.
In 2024, workshops conducted with the Doğuş Otomotiv and Doğuş Oto Target Coaching teams were organized to make the Company's goal-setting processes more strategic and efficient. These workshops fostered a strong communication and collaboration environment between managers and employees, resulting in clearer, measurable, and attainable goals. Participants were guided in setting more meaningful and effective targets at both the individual and
team levels, while various strategies were developed to encourage employees to engage with their work more deeply and maximize their potential. Furthermore, efforts were made to transform performance evaluation processes from mere measurement tools into mechanisms focused on development.
During the workshops, the guiding role of target coaches was clarified, and the active participation of employees in the goal-setting processes was encouraged. As a result, a sustainable and dynamic approach to target management that aligns with the Company's overall vision and strategies has been adopted. Regular review mechanisms ensure that the relevance of targets and the progress of employees on their development journeys are continuously supported.
In the Human Resources department of Doğuş Otomotiv, digital experience and mobility have become significant elements that reshape employees' work practices, enhance productivity, and provide flexible working opportunities. Digital technologies and mobility solutions have transformed the employee experience by integrating into Human Resources processes, thereby contributing to the overall efficiency of the organization.
In this context, the RPA initiative, which has gained momentum in recent years, has continued in the Human Resources field in 2024. Operational processes, particularly personnel affairs, have been included in RPA efforts, with tasks such as the onboarding and offboarding of private health insurance, and life insurance, and the reporting of workforce schedules to İŞKUR (Turkish Employment Agency) being delegated to automation robots.
The Human Resources Dashboard reflects our data-driven approach, encompassing analyses of employee profiles, diversity, turnover, leave utilization, overtime, and blue-collar employee metrics.
Thanks to the "Biz'De Staj" (Internship with Us) program, interns join the Doğuş Otomotiv family, making a strong start to their careers and gaining important experience in the sector.
One of the five different workshop programs organized in 2024 as part of the Go Development School Workshop Programs was the Chocolate Workshop.
This dashboard contributes to the more effective management of our Human Resources strategies, strengthening our data-driven decision-making processes.
In line with our digital transformation strategy, we have designed the "Customer Experience and Trends Training Program" in collaboration with Sabancı University EDU, consisting of seven modules and 12 days of training, to support the development of the Company's digital skills and competencies. Hackathon project presentations were conducted with 20 participants from different departments, and their graduation was celebrated. Since 2020, a total of 69 colleagues have participated in this training.
In 2024, a total of 744 hours of digital content training were focused on other digital training topics, including:
and Protection Methods Webinar
In all efforts aligned with Doğuş Otomotiv's Human Resources strategies and vision, attention is paid to positively impacting social sustainability and influencing the entire value chain.
Established to maintain and expand Doğuş Otomotiv's Human Resources policies, the DRIVE Authorized Dealer network aims to activate corporate structures in Human Resources management, ultimately achieving sustainable success in customer satisfaction and business results.
Upstream and downstream improvements in the supply chain network are among the priority expectations regarding changing and developing standards and regulations for sustainability. Remarkable progress has been made in enhancing Human Resources practices in our Authorized Dealers and Services, which we have strategically prioritized for a long time. Our Company has continued its intensive efforts towards vocational high schools, aiming to train the talents that will shape the future of the automotive industry in 2024 as well.
» Within the scope of the "Professional from Doğuş" (a term meaning "natural professional") project, the student selection process was conducted in Vocational and Technical Anatolian High Schools with a VW Laboratory during the 2023 academic year. During these visits, the students' career development and professional opportunities were discussed with the department teachers, and their career planning was supported.
We continue to assist our Authorized Dealers in raising funds for 168 students selected from those interviewed during 24 school visits in vocational high schools throughout Türkiye.
career day events at Aydın Adnan Menderes University, Izmir University of Economics, Çukurova University, Yaşar University, TED University, Pamukkale University and Uludağ University. » The "Drive Human Resources Awards", which recognize the most successful Authorized Dealers for their efforts in developing and institutionalizing Human Resources practices within Doğuş Otomotiv's Authorized Dealer organization and enhancing the employer brand, continued in 2024.
Program", specifically designed including "Lean Management Problem Solving" for Authorized
Micro-Focused Developments in Türkiye and the World" for Authorized Dealer General Managers, as well as "Authentic Leadership" for Authorized Dealer Assistant General Managers and Directors. » In 2024, the DRIVE department organized an Employee Engagement Survey, conducted by an independent research company. Based on the results, briefings were provided to the senior management of Authorized Dealers to create sustainable business outcomes, and support was given in developing action plans.
The Human Resources department also reviews all business processes within the framework of sustainability and implements digitalization projects to minimize paper usage.
By the end of 2024, Doğuş Otomotiv Human Resources has conducted focus group studies for each unit to identify new areas of focus. In 2025, it will continue its efforts to become the most preferred automotive company in Türkiye through innovative and sustainable Human Resources practices
Data Translator
The 3-stage Data Translator training program, designed to improve the digital skills and competencies of employees in line with Doğuş Otomotiv's digital transformation strategy, was completed in December.
The training meeting attended by the Directors and Assistant General Managers of Doğuş Otomotiv Authorized Dealers took place at Galataport Doğuş Otomotiv Plus Experience Center.
Doğuş Otomotiv's Code of Ethics outlines the Company's commitments and strategies regarding all ethical issues and is publicly available on the official website: https://www.dogusotomotiv. com.tr/newdogusotomotiv_ files/20215415118263_ DogusETIK%20kod-2021-TR.pdf
With the aim of shaping the future of our country and the world, fostering this vision, and enhancing it where it is prevalent, Doğuş Otomotiv published its Code of Ethics in 2012. This document clearly outlines our approach to conducting business with all stakeholders. As Türkiye's first Code of Ethics, developed to global standards and not adapted from abroad, it reflects our commitment to honest and ethical behavior in our relationships with employees, customers, business partners, and competitors. Doğuş Otomotiv engages in dialogue with all stakeholders in a fair and transparent manner, adhering to high standards of professionalism, fairness, dignity, and ethical conduct. In alignment with the Code of Ethics, any actual or potential breaches are addressed seriously, regardless of their cause.
The knowledge and sensitivities of our employees and managers are crucial for the complete and proper implementation of Doğuş Otomotiv's Code of Ethics. Therefore, the Doğuş Otomotiv Ethics Line serves as a notification mechanism accessible to all employees, managed by an independent organization.
Our ongoing efforts to raise awareness of the Code of Ethics aim to ensure all stakeholders, particularly our employees, are informed about its content. Following the remote work practices of 2020, 2021, 2022, and 2023 our Company continued this approach in 2024. Ethics training via the e-learning system persisted in 2024, both during orientation for new employees and through assigned individual training.
In 2024, e-orientation training sessions covering the Code of Ethics were conducted for a total of 269 employees at Doğuş Otomotiv and Doğuş Oto.
In 2024, it was decided to complete the training on the 'Ethical Guidelines for Business Partners', shared by Volkswagen AG with all its business partners, across distributors and the entire Authorized Dealer network. This training includes topics such as Compliance with Laws and Regulations, General Sustainability Expectations, Environment, Human Rights and Labor Law, Business Ethics, Responsible Supply Chains, and Reporting Misconduct. Within the framework of the training provided to business partners, a total of 42.5 hours of training was delivered to 85 senior executives.
Due to the requirements arising from Doğuş Otomotiv's sustainability strategies, 'Ethical Code Training' was assigned to all Company employees to share fundamental information related to Ethics, Compliance, and Sustainability. The Ethical Code Training covers topics such as Business Ethics, Protection of Company Information, Rules for Accepting and Giving Gifts, Promoting Respectful Behavior, Preventing Insider Trading, Avoiding Conflicts of Interest, Reporting Misuse of Authority, Promoting Diversity and Preventing Discrimination, and Protecting Human Rights.
A total of 657 employees received 657 employee-hours of training at Doğuş Otomotiv and Doğuş Oto.
The training program initiated in 2020 on EBA TV targeting the 5-19 age range group, most affected by accidents in Türkiye, continued in 2024. Training videos on the concept of traffic, walking safely on sidewalks, crossing streets, the importance of seat belts, and many other topics have been permanently added to the EBA TV Education Library, reaching an audience of 1 million students daily.
Cooperation with the Municipality of Küçükçekmece In 2024, the Traffic is Life! Platform, in collaboration with the Traffic
Considering sustainability a key part of its strategy, Doğuş Otomotiv conducts its activities with a strong sense of responsibility toward its stakeholders and society. In this context, the company launched Traffic is Life!, a social participation platform, in 2004 to contribute to social development and create a lasting impact on the future. As the longest-running corporate responsibility project in the sector, the Traffic is Life! Platform has carried out awareness-raising activities for diverse target audiences over the past 20 years. The platform's mission is to positively influence individuals' behavior and habits across all
age groups, integrating traffic safety principles into daily life. The platform believes that fostering a positive cultural shift in traffic will contribute to all aspects of life, ultimately paving the way for more livable cities and a better future. In response to evolving societal habits and living conditions, Traffic is Life! has expanded its focus beyond education to address the changing nature of mobility. Additionally, recognizing shifts in media consumption habits, it has adopted a strategy to leverage social media and digital platforms more effectively, aiming to reach broader segments of society with its message using the right channels.
One of Doğuş Otomotiv's primary areas of focus is its social participation platform, Traffic is Life! Now in its 20th year, the platform aims to foster a positive traffic culture by promoting safety awareness through initiatives tailored to the needs and expectations of society.
project in 2024. As part of this initiative, specialized educational materials have been developed for individuals with autism, and training sessions for teachers have commenced. Within the scope of the project, a total of 90 special education teachers in Malatya and Istanbul have received training.
The "Safe Traffic Skills Education Kit for Individuals with Autism", developed under the project, is designed to help individuals with autism learn fundamental traffic rules. The kit includes visual materials for individuals with autism of all ages, starting from age six, as well as communication cards for those with speech difficulties. Additionally, guides and checklists for families and teachers complement these resources.
Covering essential traffic rules such as seat belt use, safe crossing at traffic lights, school bus safety, and helmet use, the training sessions aim to support individuals with autism in navigating traffic more safely, whether as pedestrians or while using public transportation.
Educational materials developed under the project are available free of charge to teachers and families via the Tohum Autism Foundation's Education Portal: www.tohumotizmportali.org.
As part of its social responsibility initiatives, the Traffic is Life! Platform introduced a Facebook chatbot application, the first of its kind in this context. This tool allowed individuals preparing for the 2024 driver's license exam to take practice tests using past exam questions approved by the Ministry of National Education. Since its launch in December 2017, the application has helped 618,312 users assess their knowledge before the exam.
a specially designed classroom and a dedicated track for individuals with disabilities.
Doğuş Otomotiv's sustainability policies particularly focus on preserving societal well-being and minimizing any potential adverse impacts. Society encompasses all groups affected by the company's activities that require social approval, starting with stakeholders within its sphere of influence. The Traffic is Life! program, designed to raise awareness among children and young adults of driving age, aims to be integrated into the formal education curriculum. Through the Traffic is Life! Platform, Doğuş Otomotiv actively contributes to the 3rd and 7th goals of the United Nations Sustainable Development Goals.
To enhance the traffic safety of individuals with autism, the Traffic is Life! Platform and the Tohum Autism Foundation have launched the "Safe Traffic Skills"
is Life! Platform continued its Child Safety in Traffic project with the slogan "Conscious Children in Traffic, Our Future is Safe" in cooperation with Küçükçekmece Municipality, which started in 2023.
In the project, which is carried out in the Children's Traffic Education Park established on an area of approximately 5 decares within the body of Küçükçekmece Municipality, both theoretical and practical trainings are provided to 42,000 students between the ages of 5-12 annually under the coordination of Küçükçekmece Municipality and Küçükçekmece District Directorate of National Education.
With educational materials and curriculum support from the Traffic is Life! Platform, municipality trainers deliver sessions tailored to different age groups at the Children's Traffic Education Park. Additionally, the project fosters early traffic awareness by offering both theoretical and practical traffic safety training. The facility includes awareness about traffic safety in 2025. Education remains the platform's top priority. Training sessions, conducted in collaboration with relevant public institutions and supported by experts in the field, will focus on children aged 5 to 12. Additionally, initiatives will be implemented to educate young adults, encouraging them to serve as positive role models in traffic. Discussions on traffic-related topics and the importance of exemplary behaviors will also be promoted through social media channels, featuring participation from field experts.
interactions on the Traffic is Life! social media accounts. The platform gained over 7,000 new followers, reaching 186,508 on Facebook, 32,367 on Instagram, and 10,335 on YouTube.
Regular informational activities conducted within the Doğuş Group have also prioritized raising awareness among group employees throughout the year.
The Traffic is Life! Platform will continue its efforts to foster a positive culture and raise
Interest in individual mobility solutions has continued to grow, driven by shifting societal perspectives on the topic. In 2024, the Traffic is Life! Platform, guided by societal trend research and feedback from its target audience, addressed the rise of new mobility devices and the accompanying road safety challenges. Throughout the year, it actively engaged with all relevant stakeholders to raise awareness and promote road safety in this evolving landscape.
The Traffic is Life! Platform emphasizes dialogue-based communication and has engaged with a broad audience throughout the year across various social media channels.
The slogan "Traffic Thrives, My Control Strives!" used in the platform's 2024 communications aims to raise awareness among young people about how they should behave in traffic, speaking to the community through them. This project and slogan are based on the understanding that young individuals need to be present in all traffic situations -whether commuting to work, returning from school, going to the hospital, socializing, walking on the beach, or driving- and embrace their role as examples for others.
To enhance its outreach, the Traffic is Life! Platform has focused on YouTube, a social media channel with an increasing active user base, featuring educational videos on "Safe Driving", "Preventing Accidents", and "Driving Techniques During Natural Disasters", presented by safe driving instructor Ahmet Özgün. These videos highlight common mistakes made in traffic.
Throughout the year, communication efforts have resulted in over 111 million
Traffic is Life! Platform continues to produce educational videos with safe driving instructor Ahmet Özgün. Platform makes effective use of its YouTube channel.
Traffic is Life! Platform collaborated with Tohum Autism Foundation in 2024 to increase the safety of individuals with autism in traffic.
Commercial Code, the Capital Markets Law, and relevant regulatory provisions are applied.
At Doğuş Otomotiv, diligence is paid to the exercise of minority rights. Broadening the scope of rights and extending these rights to shareholders holding less than onetwentieth of the corporation's capital are not included in the Articles of Association. However, the Company acts responsibly regarding the scope of minority rights and shows a sensitive approach toward this issue. In addition, the scope of minority rights is periodically evaluated at Corporate Governance and Sustainability Committee meetings.
Support mechanisms and models have been devised to ensure the employees' and stakeholders' participation in the management of the Company. Detailed information on this matter is provided in the Corporate Sustainability section under Human Resources, "Stakeholder Participation in Management".
Pursuant to the Board of Directors resolution no. 2016/69 dated December 9, 2016, regarding the Board of Directors Selection Criteria upon the proposal of the Remuneration and Nomination Committee, formed by the Board of Directors of the Company in accordance with the Capital Market Board's Corporate Governance
Doğuş Otomotiv Servis ve Ticaret Anonim Şirketi has implemented the Corporate Governance Principles published by the Capital Markets Board of Türkiye in the fiscal year that ended on December 31, 2024, per the following explanations.
In the fiscal year that ended on December 31, 2024, the Company has adopted the principles of equality, transparency, accountability, and liability per the Corporate Governance Communiqué ("Communiqué") No: II-17.1 issued by the Capital Markets Board of Türkiye and published in the Official Gazette No: 28871 on January 3, 2014. According to the statement of the Capital Markets Board of Türkiye in its bulletin no. 2024/6 dated January 25, 2024, the Company is listed among the BIST 1st Group Companies. Following an evaluation of 456 criteria defined in the methodology prepared by Kobirate Uluslararası Kredi Derecelendirme ve Kurumsal Yönetim Hizmetleri A.Ş., it has been determined that the Company has complied with the Communiqué to a great extent. The Company's Corporate Governance Rating, which was 97.64 (9.76 out of 10) as of December 14, 2023, rose to 97.90 (9.79 out of 10) on December 13, 2024, as a result of the constant improvement efforts by the Company.
This outcome demonstrates that the risks that may threaten the Company have been largely identified and are under control and that the rights of shareholders and stakeholders are justly protected. Furthermore, a high level of performance has been attained in terms of public disclosures and transparency. In this respect, the structure and working conditions of the Board of Directors comply with the Corporate Governance Principles.
The Corporate Governance Rating Report is available on the corporate website and can also be accessed via this link: https:// www.dogusotomotiv.com.tr/en/ investor-relations/investor-relations/ corporate-governance/reports/ kobirate-corporate-governancecompliance-rating-report
Overall, the Company fully complies with all mandatory principles in the Communiqué as well as most of the non-mandatory principles and continues to further improve its Corporate Governance efforts. No conflict of interest has arisen due to the below-listed issues, which are not yet implemented and remain outside the scope of principles currently applied.
Even though there are no provisions or applications in the Articles of Association concerning the issues mentioned below, the Turkish
| SUB CATEGORIES | WEIGHT | RATING |
|---|---|---|
| Shareholders Rights | 0.25 | 97.50 |
| Public Disclosures and Transparency | 0.25 | 98.57 |
| Stakeholders | 0.15 | 99.13 |
| Board of Directors | 0.35 | 97.10 |
Channels for the participation of stakeholders in management are implemented while continuous enhancements are introduced within the Corporate Governance Principles framework.
Shareholders: Shareholders' participation in the management and protection of their rights are ensured within the framework of applicable laws and regulations.
Employees: Inclusion of employees' opinions in Company decisionmaking mechanisms is among the most important elements of modern business models. In addition to being included in decision-making mechanisms within the framework of their authorities and responsibilities, Doğuş Otomotiv employees have an Idea Platform where they share all kinds of suggestions and opinions in the intranet environment. The opinions of our colleagues, who share ideas contributing to various areas such as cost management, revenue growth, quality, customer/ employee experience, social and environmental improvement, and engagement programs, are evaluated by lean leaders and rewarded accordingly by the Committee team's evaluations.
The answers to survey questions regarding employee expectations concerning social, environmental, and economic issues, which are integrated into the employee satisfaction surveys conducted regularly, are consolidated and published in the Corporate Sustainability Report. These outcomes are also regularly presented to senior management for review.
Evaluation of employees' suggestions, opinions, and expectations in the company's decision-making mechanisms is carried out through various
Principles. In the event that we have plans in the future to make any changes within the framework of the Corporate Governance Principles, our stakeholders will be duly informed.
As in 2024, the Corporate Governance Principles and Sustainability Principles will continue to be internalized in the upcoming period taking into account the relevant requirements and developments in the regulations and we will maintain our willing and resolute approach to creating solutions to areas that require compliance and improvement.
In this context, pursuant to the announcement, published on the Capital Markets Board's Bulletin dated June 23, 2022 and numbered 2022/32, with the heading "Announcement Made Pursuant to the Decision of the Board Decision Making Body, dated June 23, 2022, and numbered 34/977" and the Corporate Governance Communiqué numbered II-17.1, "Sustainability Principles Compliance Framework" statement/ section has been added to our Annual Report. While carrying out their Environmental, Social, and Corporate Governance (ESG) activities, publicly traded companies should disclose the scope of the framework that consists of 57 basic principles. Since the implementation of the principles should be reported according to the 'Comply or Explain' approach within the scope of the communiqué and announcement, the said framework is included in Appendix 4 of the Sustainability Principles Compliance Statement.
The Corporate Governance Compliance Report (CGCR) and Corporate Governance Information Form (CGIF) of our Company can be accessed on the Public Disclosure Platform. https://www.kap.org.tr/tr/sirketbilgileri/genel/1391-dogus-otomotivservis-ve-ticaret-a-s
Principles, two (2) female members, one serving as an independent member, are on the Company's Board of Directors in line with the General Assembly Resolutions dated April 16, 2024. As such, female members constitute 33% of the Board of Directors, and compliance with the Corporate Governance Communiqué is ensured.
Even though self-criticism and performance assessments are carried out on the Board of Directors, members are neither awarded nor discharged from their duties as a result of these evaluations. However, the participation of the Board Members in the Board of Directors and Committee meetings, their contributions, and sharing of knowledge, know-how, and experience are taken into account, and the performance of the Board of Directors as a whole is assessed biannually. In this context, proposals were received from 3 different independent consulting firms in 2023, the alternatives were evaluated by the Remuneration and Nomination Committee and the Board of Directors, and it was decided to conduct the assessment with ARGE Consulting as before in order to compare and monitor the results of the previous findings.
The study, which was conducted in the form of surveys and one-onone face-to-face interviews, was completed in 2024 and its outputs were evaluated at the Board of Directors Meeting held on May 23, 2024.
Following Article 4.6.5 of the Corporate Governance Principles, the remuneration and all other benefits provided to the Members of the Board of Directors and executives with administrative responsibilities are disclosed to the public collectively through the Annual Report.
The Company's current management practices comply with the Corporate Governance While performing its duties and responsibilities, the Board of Directors engages in continuous and effective collaboration with executives. When deemed necessary, executives participate in the Board meetings. The Articles of Association outline the responsibilities and duties of both our Company's Board of Directors members and executives, specified in Articles 9 through 13.
Our Company's Board Members are covered by the "Management Liability Insurance Policy", amounting to 10 million USD annually, provided by Doğuş Otomotiv, against any damages the managers may cause to the Company due to misconduct while executing their duties.
The working principles and procedures of the Board of Directors govern the following matters:
relevant topics.
This regulation is applied in practice.
The Company's Board of Directors is made up of six (6) directors; one (1) chairman and five (5) members.
the philosophy of serving more effectively, efficiently, and with higher quality, holding regular meetings with stakeholders to shape corporate policies and decisions, and taking the necessary actions according to the evaluation of the results are also a part of this participation process.
On the other hand, shareholders, who are not controlling shareholders that directly take part in management, participate in management via General Assemblies.
The Board of Directors has maintained the Company's risk, growth, and return balance at optimal levels by making strategic decisions and has managed and represented the Company by first and foremost protecting the longterm interests of the Company through rational and prudent risk management. Driven by the Company's vision and mission, the Board of Directors has coordinated the operations performed by the executive body and at the same time overseen Company management's performance, observing how the Company's operations and activities complied with the legislation, the Articles of Association, internal regulations and policies. The Board is the highest authority in the Company for decision-making, strategy formulation, and representation.
The Board of Directors conducts its activities in a transparent, accountable, fair, and responsible manner.
The Board of Directors plays a key role in maintaining effective communication with shareholders and resolving possible disputes. For this purpose, the Board of Directors works in close cooperation with the Investor Relations Department.
channels at Doğuş Otomotiv. Dialog is facilitated through platforms such as employee engagement surveys, regular meetings with senior management, focus group studies, performance management programs, leadership and mentoring programs, and necessary adjustments are made in company strategies and policies based on the data obtained. By integrating these practices into employee and work environment policies, our company fosters a more inclusive, proactive, and collaborative work environment. Detailed data under relevant headings are disclosed in the Doğuş Otomotiv Integrated Sustainability Report.
Employee suggestions and opinions regarding the Company's practices and activities are received through Employee Committees, comprising employees from each department. The activities of the Corporate Sustainability Working Group, representing the critical majority of company units, are regularly reported to the Corporate Governance and Sustainability Committee, which reports to the Board of Directors. Additionally, in order to ensure employee representation at the Board of Directors and Executive Board level, a representative was elected by a majority vote of the members of the Employee Committee in May 2024. The Employee Representative shares the opinions and suggestions of Company employees with the Executive Committee and the Board of Directors at the end of the year.
Customers: An independent firm conducts regular customer satisfaction surveys. Customer requests received by Customer Relations and the results of customer surveys are evaluated by the relevant departments and necessary updates are implemented. Furthermore, customers are informed of the Company's strategies and plans at Authorized Dealer events organized throughout the year. In line with
and CEO are filled by the same person.
The two (2) Independent Members of the Board are Adalet Yasemin Akad and Adnan Memiş. At the General Assembly meeting on April 16, 2024, the Chairman and Members of the Board of Directors were elected to serve for three (3) years. Yet, Yasemin Akad, who serves as an Independent Member, has been elected to serve for one (1) year, while Adnan Memiş has been elected to serve for two (2) years.
The résumés of the Board Directors can be found under the "Management Report" menu.
The Board of Directors convenes as required by the needs of the Company's business. The Board is required to meet at least once a month. The number of meetings of the Board of Directors, the meeting
The selection of Board Members in the Company complies with the qualifications mentioned in Chapter IV of the CMB Corporate Governance Principles and is carried out in accordance with the relevant articles of the Turkish Commercial Code.
The Board members of the Company are Emir Ali Bilaloğlu, Gür Çağdaş, Koray Arıkan, Özlem Denizmen Kocatepe, Adalet Yasemin Akad, and Adnan Memiş. According to the distribution of duties among the Board Members elected at our Company's Ordinary General Assembly Meeting dated April 16, 2024, and announced on PDP, Emir Ali Bilaloğlu was elected as the Chairman of the Board of Directors. Due to the decrease in the number of directors on the Board and considering Chairman Emir Ali Bilaloğlu's long years of experience serving both as a Board member and also as CEO, it has been found appropriate that the positions of Chairman of the Board of Directors
In this respect, the rule of having at least five (5) directors to set up a Board is complied with. This number is sufficient for the Board to carry out efficient and constructive work and to effectively form committees and organize their activities.
The Board of Directors has one (1) executive and five (5) non-executive directors. Most of the members are therefore in non-executive roles. On the other hand, two (2) members of the Board of Directors who are non-executive are also Independent Members, as required by the Corporate Governance Principles. The Independent Members have submitted to the Board of Directors their written declaration stating their independence within the framework of relevant legislation, Articles of Association, and the criteria outlined in the Principles. Currently, there are two (2) female directors serving on the Board. In its current state, the Company's Board of Directors consists of 33% female directors.
matters that they find necessary concerning their operations. The committee reports have been evaluated by the Board of Directors, and necessary actions have been taken by our Company.
A performance appraisal of the Board of Directors is conducted at the Company every two years. The previous evaluation, initiated with ARGE Consulting company in late 2021 and concluded in 2022, entailed surveys and face-to-face interviews with Board members, followed by the analysis of the answers by the company. Additionally, individual meetings were held with senior managers holding administrative responsibilities to gather feedback on the Board of Director's performance. During the Remuneration and Nomination Committee meeting convened on May 18, 2022, the company consultant presented the study results, and the Committee deliberated on them. Furthermore, the study results were communicated during the Board of Directors meeting, where they underwent evaluation by the Board, leading to subsequent actions.
In preparation for the upcoming appraisal in 2023, proposals were solicited from 3 separate independent consultancy firms. After careful consideration by the Remuneration and Nomination Committee, the Board of Directors was recommended to engage ARGE Consulting once again for continuity and comparison with previous findings. The decision to proceed with ARGE Consulting was finalized at the Board of Directors meeting, held on December 19, 2023, during which alternative companies were also considered.
The study, which was conducted in the form of a questionnaire and one-on-one face-to-face interviews, was completed in 2024 and the results of the study were presented
The Audit Committee, Corporate Governance and Sustainability Committee, Early Risk Detection Committee, and Remuneration and Nomination Committee have been formed for the Board of Directors to fulfill its duties and responsibilities in a healthy manner. Separate Nomination and Remuneration Committees have not been established due to the structure of the Board of Directors, and their duties are fulfilled by a single Remuneration and Nomination Committee.
Duties, working principles, and members of the Committees have been determined by the Board of Directors, publicly disclosed through approved written documents again by the Board of Directors, and announced on the corporate website. All members of the Audit Committee are Independent Board Members. Among the Corporate Governance and Sustainability Committee, the Early Risk Detection Committee, and the Remuneration and Nomination Committee, Committee Head is an Independent Board Member while the Chairman/ CEO does not serve on any of these committees.
The Board of Directors has provided the committees with all kinds of resources and support required to fulfill their duties. The Committees may invite independent specialists and related executives to the meetings to obtain their views on
and decision-making quorum of the Board of Directors are included in the Company's Articles of Association. Board meeting dates are set at the beginning of each year and announced to all participants. Pursuant to the Board of Directors Working Principles, relevant information and documentation are shared with the members 3 days before the meeting.
The Board of Directors convened 12 times in 2024, all of which were attended. In the absence of some members, they were duly informed and their opinions were taken per the general principles. Topics addressed in Board of Directors meetings are recorded as minutes of the meeting and saved. Board Members have the right to declare different opinions on any subject and to get their dissenting opinions recorded in the minutes. The Company's operational results, performance indicators as well as financial, operational, and sustainability targets are monitored regularly by the Board of Directors through monthly meetings.
Each member of the Board of Directors has the right to one vote, and none of the members has the right to veto. The Board of Directors meetings are held in compliance with the legislation and the relevant sections of the Articles of Association.
Attendance rates of the Board Members in the Board of Directors meetings in 2024 are given in the table below.
oversight of accounting, auditing, internal control systems, and financial reporting practices.
In this context, the Audit Committee, acting on behalf of the Board of Directors, evaluates the effectiveness and sufficiency of the Company's internal audit, internal control, and risk management systems, as well as the functioning of these systems and accounting and reporting procedures per Capital Markets Legislation and the principles outlined in this regulation, and ensures the integrity of the information generated. Additionally, the Committee establishes procedures and standards for investigating and addressing complaints received by the Company regarding the internal control system and independent audit and ensuring the confidential assessment of notifications and denunciations concerning accounting and independent auditing.
In addition to disclosing financial information to the public and regular monitoring of independent audit activities, the Audit Committee informs the Board of Directors about the issues within the framework of its findings and evaluations regarding its field of duty and responsibility.
The Audit Committee furnishes written reports regarding its assessments concerning the accuracy and reliability of the annual and interim financial statements intended for public disclosure. These evaluations are corroborated by the viewpoints of the Company's accountable executives and independent auditors, ensuring alignment with the Company's accounting principles. Accordingly, four (4) written briefs were presented to the Board of Directors in 2024.
The Audit Committee convened eight (8) times in 2024. In the presentations by the Internal Audit
including Environmental, Social and Governance (ESG) performance. As part of our efforts to improve corporate governance, the Remuneration Committee has established a set of performance criteria that form the basis for the remuneration and benefits of senior executives.
Final compensation and benefits payments are linked to financial and non-financial metrics, with a particular focus on performance improvement and companywide targets. In line with ESG priorities, the performance of senior executives is evaluated based on measurable improvements in areas such as customer satisfaction, quality and cost management.
Our remuneration policies not only reflect our commitment to sustainability, but also incentivize improvements not only in terms of financial performance, but also in areas critical to our ESG goals. We support our long-term corporate vision by actively implementing projects designed to deliver tangible benefits in environmental stewardship, social responsibility and governance practices.
This approach not only emphasizes Doğuş Otomotiv's commitment to responsible leadership and sustainable growth, but also strengthens the link between the performance of senior executives and our commitments on ESG.
The Audit Committee, consisting of Independent Board Members as defined by the Capital Markets Board of Türkiye's Corporate Governance Principles, carries out its activities according to the Audit Committee Bylaws approved by the Board of Directors. The Committee assists the Board of Directors in the
by the company consultant at the Remuneration and Nomination Committee meeting held on May 20, 2024 and the opinions of the committee were received. At the Board of Directors Meeting held on May 23, 2024, the outputs of the study were evaluated by the Board of Directors.
Actions are implemented and subsequently monitored following the completion of the Board of Directors' Performance Appraisal. Based on the recommendations from the Remuneration and Nomination Committee, the Board of Directors made decisions in the 2020 study concerning the career development of senior managers and their readiness for Board roles. It was determined that two General Managers from the Executive Board would alternate in attending Board meetings for six months to facilitate their Board training. Additionally, the inclusion of General Managers on the Board meeting agenda for presentations detailing their operations was discussed.
The 2022 Board of Directors' Performance Appraisal led to the decision to appoint an Employee Representative, ensuring employee representation at both the Board of Directors and Executive Board levels. This representative attends management meetings periodically to convey employee opinions and suggestions. In 2023, the Employee Representative election was conducted democratically, with votes cast by Employee Committee representatives. The Employee Representative regularly communicates the opinions and suggestions of Company employees to the Executive Board and Board of Directors. The implementation of all these decisions continued in 2024.
Doğuş Otomotiv, we are committed to aligning executive remuneration and benefits with our broader corporate responsibility goals,
| Attendance Ratio | |
|---|---|
| Emir Ali Bilaloğlu | 100% |
| Gür Çağdaş | 33% |
| Koray Arıkan | 100% |
| Özlem Denizmen Kocatepe | 92% |
| Adalet Yasemin Akad | 100% |
| Adnan Memiş | 92% |
The Committee, formed for early diagnosis of the causes that threaten the Company's existence, development, and continuity, taking preventive measures and remedies, and managing risks, is responsible for running and developing the system. The Committee held a total of four (4) meetings in 2024. The Committee also presented regular reports of risk assessments to the Board of Directors every month.
The Compliance Function, which reports to the Early Risk Detection Committee, held two (2) meetings with its working group in 2024. The 3rd meeting for 2024 was held in January 2025. The tasks of the Compliance Function are defined as ensuring compliance with Company policies, requirements of applicable regulations and relevant legislation, international standards and processes, and identifying and reporting the risks in the relevant processes. As a part of 2024 activities, the Compliance Function aimed to minimize risks within its scope of operation and to promote commitment to ethical principles and values in line with the Compliance Policy.
A new Risk and Opportunity Module was created in 2024 within the scope of the Integrated Management System, taking into account the COSO Risk Management Model. Risks and opportunities are integrated within the scope of Doğuş Otomotiv's Quality, Occupational Health and Safety, Energy and Environment certifications.
Adalet Yasemin Akad (Head of Committee - Independent Board Member) Özlem Denizmen Kocatepe
The Remuneration and Nomination Committee consists of the two (2) members listed above and the Head of Committee is an Independent Board Member. Based on specific
in terms of its formation. The Committee has convened four (4) times in 2024 and regularly reported its findings and resolutions to the Board of Directors.
Pursuant to the Communiqué Amending the Corporate Governance Communiqué (II -17.1) of the Capital Markets Board published in the Official Gazette dated October 02, 2020, and numbered 31262 (II -17.1.a) and the announcement published on the Capital Markets Board's Bulletin dated June 23, 2022, and numbered 2022/32, with the heading "Announcement Made Pursuant to the Decision of the Board Decision Making Body, dated June 23, 2022, and numbered 34/977", and the Corporate Governance Communiqué numbered II-17.1, companies are obliged to comply with the sustainability principles and include the explanations within the scope of the sustainability principles compliance framework in their compliance reports with the Corporate Governance Principles. The Corporate Governance and Sustainability Committee has decided to include the topic among the performance indicatators of senior management, determine the Company's targets, and brief the Board of Directors of the Committee periodically.
Adnan Memiş (Head of Committee - Independent Board Member) Koray Arıkan Gür Çağdaş Hasan Hüsnü Güzelöz
The Early Risk Detection Committee consists of four (4) members, with the Head of the Committee an Independent Board Member. The Committee was severed from the Corporate Governance and Sustainability Committee as of April 2013 and its working principles were established. The Early Risk Detection Committee fulfills its duties and responsibilities in accordance with the legislation.
Department, the Committee was informed about internal control, risk management, governance, and sustainability processes as a result of audits, and the decisions reached were recorded in the minutes of the Committee meeting. The Committee members delivered four (4) briefings to the Board of Directors in 2024 about audit findings.
Adalet Yasemin Akad (Head of Committee - Independent Board Member) Gür Çağdaş Koray Arıkan Hasan Hüsnü Güzelöz Yavuz Arda Yıldız
The Corporate Governance and Sustainability Committee identifies whether Corporate Governance Principles are applied, explores reasons for non-compliance, addresses conflicts of interest that may arise due to lack of adherence, and fulfills its public disclosure duty through the Corporate Governance Compliance Report. The Committee also informs the Board of Directors on preventive/remedial measures for ensuring the implementation of sustainability principles, areas of opportunity, and operational results. The Committee consists of five (5) members, including the Head of the Committee, who is an Independent Board member, and two (2) nonexecutive Board members. Another one (1) member serves as the Investor Relations Assistant Manager and is appointed as a member of the Corporate Governance and Sustainability Committee, pursuant to the CMB Communiqué No. II-17.1.
When the Corporate Governance and Sustainability Committee consists of two members, both of the members should be nonexecutive, whereas if there are more than two members, then the majority of the members should be non-executive. Currently, the Committee complies with the Corporate Governance Principles
topics, managers of relevant departments can be invited to a meeting when their opinions and assessments are needed. At Doğuş Otomotiv, the tasks of the Nomination Committee are performed by the Remuneration and Nomination Committee. The Committee has convened three (3) times in 2024. The issues identified, the actions taken, and the results obtained were presented to the Board of Directors during the meeting.
The Remuneration and Nomination Committee is responsible for organizing the "Board of Directors' Appraisal and Improving Its Effectiveness" studies conducted regularly in the Company and ensuring that they are carried out. The pay raises of the Independent Board Members are also determined during the General Assembly period based on the proposal of the Remuneration and Nomination Committee.
The Nomination Committee plays an active role in ensuring that there are designated successors for independent Board members. Furthermore, Board members also attend briefings regularly every year to gain detailed information on the Company, including the current status of each business unit, and mediumand long-term strategies and outlook.
At our company, the performance of Executive Board Members is evaluated annually based on their achievement of business targets. Their performance is assessed against detailed targets in financial, customer, process, and learning and development dimensions, using a specific methodology. In annual Round Table Meetings, Executive Board Members' career development, succession plans, strengths, and development areas are evaluated and recorded in the existing system.
Upon the Remuneration and Nomination Committee's recommendation regarding career planning for senior executives and their preparation for Board roles, the Board of Directors made several resolutions in 2020. It was resolved that two General Managers, also serving as Executive Board Members, would alternate in attending Board meetings for six-month periods to prepare for potential Board roles. Furthermore, the General Managers are scheduled to present the operations within their respective departments during a board meeting. These decisions have been implemented.
Additionally, following the Board of Directors' Performance Appraisal conducted in 2022, it was decided to appoint an employee representative to ensure employee representation at both the Board of Directors and Executive Board levels. This representative will attend management meetings periodically to convey employee opinions and suggestions. In 2024, as in 2023, Employee Representatives were elected democratically by the votes of the Employee Committee representatives. Periodically, the Employee Representative shares employee opinions and suggestions with both the Executive Board and the Board of Directors.
In 2023, with the recommendation of the Remuneration and Nomination Committee, the addition of the following article to the "Remuneration and Nomination Committee Regulation" was put on the agenda of the Board of Directors. The regulation was updated with the decision of the Board of Directors dated September 20, 2023: "The Committee aims to increase the diversity of the Board of Directors across various dimensions including geography, age, race, gender, and ethnicity."
Emir Ali Bilaloğlu (Head of Committee) Gür Çağdaş Koray Arıkan Özlem Denizmen Kocatepe
The Human Resources and Disciplinary Committee has been formed by the authority of the Board of Directors to provide guidance for human resources practices and disciplinary actions, monitor the activities, and make decisions on these matters. The committee convened four (4) times in 2024.
The remuneration principles for Members of the Board of Directors and executives with administrative responsibilities have been put into writing, presented to the General Assembly for approval, and disclosed electronically to the general public. In the remuneration of Independent Members of the Board of Directors, payment plans such as dividends, stock options, or payment options based on the Company's performance have not been considered. The remuneration of Independent Members of the Board of Directors has been set at a level to maintain their independence.
The Company has not extended loans or credit to any members of the Board of Directors or executives with administrative responsibilities, nor granted anyone any loan through a third party under the guise of personal loans, nor given guarantees on their behalf. Performance appraisals of the members of the Board of Directors have been conducted with the support of a professional organization using objective criteria.
Our company has provided 1.6 billion TRY of financial rights to the Members of the Board of Directors and persons with administrative responsibilities in 2024 since they have the authority and responsibilities to plan, manage, and control the activities of our company as senior managers.
This Annual Report covers the period from January 1, 2024 to December 31, 2024.
| Doğuş Otomotiv Servis ve Ticaret Anonim Şirketi |
|---|
| Maslak Mahallesi, Ahi Evran Cad. No: 4 İç Kapı No: 3 |
| Sarıyer / İSTANBUL |
| Şekerpınar Mahallesi, Anadolu Caddesi, No: 45D, 41490 |
| Çayırova / KOCAELİ |
| (+90-262) 676 9090 |
| (+90-262) 676 7665 |
| www.dogusotomotiv.com.tr |
| November 19, 1999 |
| 429183 - 376765 |
| Central Registration System No : 0309011471300010 |
In 2024, the Company had 658 blue-collar (December 31, 2023: 672 employees) and 1,420 white-collar employees (December 31, 2023: 1,402 employees) on average.
| Name Surname | Position | Starting Date | Term (years) |
|---|---|---|---|
| Emir Ali Bilaloğlu | Chairman of the Board of Directors, CEO | 16.04.2024 | 3 |
| Gür Çağdaş | Vice Chairman of the Board of Directors, Corporate Governance and Sustainability Committee Member, Early Risk Detection Committee Member |
16.04.2024 | 3 |
| Koray Arıkan | Board Member, Corporate Governance and Sustainability Committee Member, Early Risk Detection Committee Member |
16.04.2024 | 3 |
| Özlem Denizmen Kocatepe | Board Member, Remuneration and Nomination Committee Member |
16.04.2024 | 3 |
| Adalet Yasemin Akad | Independent Board Member, Head of Corporate Governance and Sustainability Committee, Audit Committee Member, Head of Remuneration and Nomination Committee |
16.04.2024 | 1 |
| Adnan Memiş | Independent Board Member, Head of Audit Committee, Head of Early Detection of Risk Committee |
16.04.2024 | 2 |
shares or accept them as a pledge, all necessary public disclosures and announcements will be made in accordance with "Communiqué No: II-22.1 on Share Buy-Back", published in the Official Gazette No. 28871 on January 3, 2014.
In 2016, in compliance with CMB regulations, our Company sold all of its repurchased shares, which corresponded to 10% of its capital and were traded on the stock exchange. As of the latest capital structure, the Company does not hold any repurchased shares.
In 2024, the Ministry of Trade, Trade Inspection Board conducted an audit pursuant to Article 75 of Law No. 6502 on Consumer Protection.
Research & Development
Activities
The Company has not carried out any research & development
activities in 2024.
Company Operations and Material Developments Regarding Operations
Investments
In 2024, the Company invested TRY 3.8 billion in fixed assets
including vehicle purchases, showroom renovations, service equipment, IT equipment, software updates, and fixture purchase costs.
Detailed information about the transactions performed during the year about the Company's Direct and Indirect Subsidiaries is provided in the footnotes of the consolidated financial statements for the year ending on December 31, under the "Note 29: Balances and Transactions with Related Parties" heading.
If the Board of Directors of Doğuş Otomotiv resolves to buy back its
| Name Surname | Position | Education |
|---|---|---|
| Emir Ali Bilaloğlu | Chairman of the Board of Directors, CEO | M.Sc. in Engineering |
| Kerem Talih | Chief Financial Officer; Vice Chairman of the Board of Directors - Doğuş Şarj Sistemleri Pazarlama ve Ticaret A.Ş. |
Economics |
| Koray Bebekoğlu | Chief Digital Transformation and Corporate Communications Officer |
Mining Engineering / MBA |
| Giovanni Gino Bottaro | Chief Brand Officer - Volkswagen Passenger Cars; Chairman of the Board - Doğuş Şarj Sistemleri Pazarlama ve Ticaret A.Ş. |
Mechanical Engineering |
| Anıl Gürsoy | Chief Brand Officer - SEAT, CUPRA, Porsche, DOD, and Doğuş Marine Services |
Business Administration & Marketing |
| Kerem Galip Güven | Chief Brand Officer - Audi, Bentley, Lamborghini | Tourism & Hotel Management |
| Mustafa Karabayır | Chief Spare Parts and Logistics Officer | Geology Engineering / M. Sc. in Civil Engineering |
| Tolga Senyücel | Chief Brand Officer - VW Commercial Vehicles, Scania, DOD Heavy Vehicles, Thermo King, Meiller, Wielton; Managing Director of Gebze and Tuzla Retail Points |
Business Administration / MBA |
| Mustafa Murat Uluer | Director - Doğuş Marine Services | Industrial Engineering |
| Yalçın Cihan Bicioğlu | Acting Director - Human Resources and Process Management |
Software Engineering |
A lawsuit was filed on July 8, 2024, by Oğuzhan Özçoban, requesting the annulment of our Company's Board of Directors' resolutions dated March 7, 2023, and August 1, 2023, regarding the acquisition of Doğuş Gayrimenkul Yatırım Ortaklığı A.Ş. (Doğuş REIT, Inc.) shares from Doğuş Holding A.Ş. The case is currently pending before the Istanbul 6th Commercial Court of First Instance under file number 2024/391.
Information on the Administrative and Judicial Sanctions Imposed on the Company and its Managing Body due to Practices against Legislative Provisions
No administrative or judicial sanctions were imposed on the members of the governing body for violations of legislation during the reporting period.
Although certain administrative sanctions were imposed on the Company under various legislative provisions as part of its regular operations, these do not materially impact the Company's activities.
| Company Title | Area of Operation | Paid-in / Issued Capital |
Company's Share in Capital |
Currency Unit |
Company's Share in Capital (%) |
Relation to Company |
|---|---|---|---|---|---|---|
| Doğuş Holding A.Ş. | Holding Company | 862,837,305 | 31,575,087 | TRY | 3.66 | LONG TERM SECURITY |
| Doğuş Oto Pazarlama ve Ticaret A.Ş. |
Vehicle Trading & AS Services |
45,000,000 | 43,288,272 | TRY | 96.20 | SUBSIDIARY |
| Doğuş Gayrimenkul Yatırım Ortaklığı A.Ş. |
Real Estate Investment Trust * |
332,007,786 | 313,535,544.67 | TRY | 94.44 | SUBSIDIARY |
| Doğuş Şarj Sistemleri Pazarlama ve Ticaret A.Ş. |
Charging Management |
100,000,000 | 100,000,000 | TRY | 100 | SUBSIDIARY |
| Doğuş Bilgi İşlem ve Teknoloji Hizmetleri A.Ş. |
IT Infrastructure & Software |
241,881,000 | 52,623,746 | TRY | 21.76 | AFFILIATE |
| Doğuş Sigorta Aracılık Hizmetleri A.Ş. |
Insurance and Brokerage Services |
1,265,000 | 531,232 | TRY | 41.99 | AFFILIATE |
| vdf Servis ve Ticaret A.Ş. | Automotive Products & Services |
606,465,344 | 295,887,281 | TRY | 48.79 | AFFILIATE |
| Yüce Auto Motorlu Araçlar Ticaret A.Ş. |
Škoda Türkiye Distributor |
250,000,000 | 124,999,964.29 | TRY | 50.00 | AFFILIATE |
| TÜVTÜRK Güney Taşıt Muayene İstasyonları Yapım İşletim A.Ş. |
Vehicle Inspection Stations |
291,246,000 | 96,115,000 | TRY | 33.00 | BUSINESS PARTNERSHIP |
| TÜVTÜRK Kuzey Taşıt Muayene İstasyonları Yapım İşletim A.Ş. |
Vehicle Inspection Stations |
510,150,000 | 168,300,000 | TRY | 33.00 | BUSINESS PARTNERSHIP |
Implementation of Paragraph (5) of Article 12 of the Special Consumption Tax Law No. 4760, published on July 3, 2024.
2024, with Article 8 taking effect three months after publication, Articles 9 and 563's newly added eighth and ninth paragraphs taking effect on the thirtieth day following publication, and all other provisions taking effect on the date of publication. » Communiqué Amending the 'Value Added Tax General Implementation Communiqué regarding VAT rates', published in the Official Gazette on April
published in the Official Gazette
the 'Turkish Commercial Code and Certain Laws', published in the Official Gazette on May 29,
(Decision Numbers: 8569, 8570,
Separate Technical Units, as well as the Protection of Vulnerable published in the Official Gazette
published in the Official Gazette
» Regulation Amending the (EU/2019/2144) on the General Separate Technical Units, as well as the Protection of Vulnerable published in the Official Gazette
Details on asset acquisitions and sales are provided in the supplementary notes of the consolidated financial statements for the years ending December 31, under: "Note 12 – Tangible Fixed Assets' and 'Note 13 – Intangible Fixed Assets".
During the reporting period, no conflicts of interest occurred between the Company and firms providing investment consultancy, rating, or other services. The Company takes proactive measures to prevent potential conflicts through agreements and internal practices, in alignment with its Code of Ethics.
automotive industry occurred during the reporting period:
* Operating a portfolio consisting of real estate projects and real estate-based assets and rights
» Communiqué on the Import of Certain Electric and Externally Charged Hybrid Vehicles (Import: 2025/7), published in the Official Gazette (3rd Duplicate) dated December 31, 2024.
There are no targets that the Company failed to achieve or General Assembly decisions that remain unfulfilled during the reporting period. Detailed information regarding the Company's assessment for 2024 can be found under the section titled "Management Report", specifically in the subsection "2024 Performance Review and 2025 Outlook".
No Extraordinary General Assembly Meeting was held in 2024.
On April 16, 2024, as part of the agenda for the Ordinary General Assembly Meeting regarding the 2023 fiscal year, the donations and contributions made during the 2023 fiscal year were submitted for approval by the General Assembly. Detailed information and the donations and contributions made during the period are provided in the opposite page.
"The Board of Directors proposed to maintain the annual donation limit of 500,000,000 TRY, which was approved at the General Assembly on March 28, 2023 (this amount can be increased by 50% at the discretion of the Board of Directors). Additionally, it was proposed to contribute up to 50% of the total project cost, including past and committed contributions, limited to the construction project of the "Hatay TOKİ Social Housing, 1001 Housing Project," coordinated
published in the Official Gazette dated December 21, 2024.
(No: 2), published in the Official Gazette on September 21, 2024.
2025, and published on the Public Disclosure Platform, recommends the distribution of the profit generated in the operating year of 2024 as outlined in the profit distribution table. In accordance with our profit distribution policy and relevant legislation, the amount of profit to be distributed in cash should be 8,200,000,000 TRY, and the date of profit distribution will be determined by the Board of Directors. This proposal will be submitted for approval by the General Assembly.
After the end of the financial year, events that may be of special significance and could affect the rights of shareholders, creditors, and other relevant individuals and organizations (Subsequent Events) have been disclosed to the public in Note 32 of the financial report.
This report has been prepared in accordance with the provisions of the Turkish Commercial Code, the Capital Markets Law and the relevant legislation, and has
Indicators Our company has equity in the amount of 55.7 billion TRY, its capital is not unrequited and it is not in debt.
Our company has a solid financial structure, and no additional measures need to be taken to improve it.
Compared to the previous year, our company's revenue decreased by 13%, and net profit decreased by 73%. Wholesales figures, including Škoda, increased by 8.3%.
Our company's Operating Expenses/Revenue ratio was 7.4% in 2024.
A summary of consolidated financial information is available on Page 28 and financial indicators are on Page 30.
Profit Distribution Proposal The proposal of the Board of Directors, dated February 28,
by the Disaster and Emergency Management Authority, and to inform the General Assembly regarding the contributions made. This proposal was accepted with a majority vote of 162,544,942 shares in favor against 36,226 shares in opposition."
The transactions carried out by Doğuş Otomotiv Servis ve Ticaret A.Ş. with the controlling and subsidiary companies within the group of companies in 2024 are ordinary commercial activities. Contrary to its precedents, the Company did not carry out any transactions in favor of the controlling company or subsidiary companies in 2024. Therefore, the Company has not taken any precautions or offset losses for the transactions it has conducted with the controlling company and its subsidiary companies within the scope of Article 199 of the Turkish Commercial Code.
| DOĞUŞ OTOMOTİV SERVİS VE TİCARET A.Ş. and SUBSIDIARIES Grants and Aid in 2024 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
| EXPLANATION | TOTAL | ||||||||
| Disaster and Emergency Management Presidency - Hatay TOKİ Social Housing | 904,256,013 | Earthquake | |||||||
| Governorship of Hatay - Renovation of Historical Monuments | 163,242,627 | 1,067,498,640 | |||||||
| Darüşşafaka Society | 10,417,685 | ||||||||
| İzzet Baysal Vocational and Technical Anatolian High School | 1,500,000 | Education | |||||||
| Şişli Technical and Industrial Vocational High School | 50,000 | 12,171,435 | |||||||
| Other Educational Associations and Institutions | 203,750 | ||||||||
| Çayırova Municipality | 11,000,000 | ||||||||
| Foundation for Strengthening the Justice Organization | 3,810,652 | Other 14,900,159 |
|||||||
| Other Associations and Institutions | 89,507 | ||||||||
| Total (TRY) | 1,094,570,234 | ||||||||
Note: The data on donations has been presented in nominal terms.
operating period of 2024 is given in Appendix 1.
Pursuant to the decision of the Board of Directors, dated 28.02.2025 and numbered 2025/13, the Consolidated Financial Statements and Footnotes of our Company for the accounting period ending on December
been signed and approved by the Members of the Board of Directors of the Company with the Board of Directors' decision dated 28.02.2025 and numbered 2025/13.
The responsibility statement of the Members of the Board of Directors and the manager responsible for financial reporting for the
31, 2024 were approved and it has been decided to publish the Independent Audit Report, prepared by PwC Independent Auditing and Certified Public Accountant Inc. and submitted to our Company, the Financial Statements, and the Footnotes on the Public Disclosure Platform.
RESOLUTION OF THE BOARD OF DIRECTORS CONCERNING THE APPROVAL OF FINANCIAL STATEMENTS AND ANNUAL REPORTS RESOLUTION DATE: 28 February 2025 RESOLUTION NUMBER: 2025/13
STATEMENT OF RESPONSIBILITY PURSUANT TO THE ARTICLE 9 OF THE CAPITAL MARKETS BOARD'S COMMUNIQUE ON THE "PRINCIPLES OF FINANCIAL REPORTING IN CAPITAL MARKETS"
We have examined the audited Consolidated Financial Statements, the Annual Report of the Board of Directors, the Corporate Governance Compliance Report (URF) and the Corporate Governance Information Form (KYBF) prepared for the fiscal year ending on 31 December 2024, which have been approved by the Audit Committee and the Board of Directors, pursuant to the Capital Markets Board Communiqué on the "Principles of Financial Reporting in Capital Markets."
Within the scope of our duties and responsibilities in the Company, to the best of our knowledge, we hereby declare that:
a) The aforementioned reports do not contain any misrepresentation of facts on any major issues and do not include any omissions that may lead to a misleading conclusion as of the date of disclosure;
b) The consolidated financial statements prepared in accordance with the applicable financial reporting standards fairly reflect the Group's assets, liabilities, financial position, profit and loss. Furthermore, the annual report fairly presents the development of the business, its performance, and the significant risks and uncertainties it faces.
Respectfully yours,
Doğuş Otomotiv Servis ve Ticaret A.Ş.
Adnan MEMİŞ Board Member and Head of Audit Committee
A. Yasemin AKAD Kerem TALİH Board Member and Chief Financial Officer Member of Audit Committee
| Management and Communication Selectionar Mah: Anadolu Cad. N" AGO, 454203 Comova / KOCAEL P: (0262) 676-90-90 F: (02621676.76.65) |
|---|
| @oguspborn.otiv@PixOS Awp.fr in Carolina Kadana wakati katika 1 |
| COMPLIANCE STATUS | |||||||
|---|---|---|---|---|---|---|---|
| YES | PARTIALLY | NO | NON-APPLICABLE | EXPLANATION | REPORT INFORMATION REGARDING THE PUBLIC DISCLOSURE / LINK |
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| A. General Principles | |||||||
| A1. Strategy, Policy, and Goals |
|||||||
| Priority environmental, social, and corporate governance (ESG) issues, risks and opportunities have been determined by the board of directors of the partnership. |
l | 2023 Sustainability Report was shared with the public in August 2024. |
2023 Integrated Sustainability Report Strategy and Material Issues, 16-19 Ingredients of Double Materiality Approach, 19-23 Material Focus Topics, 23 Management of Sustainability Risk and Opportunity, 24-26 Corporate Governance and Sustainability Management, 30-32 Risk Management, 33 |
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| A1.1 | ESG policies (e.g. Environmental Policy, Energy Policy, Human Rights and Employee Policy, etc.) have been created and disclosed to the public by the board of directors of the partnership. |
l | Doğuş Otomotiv ESG Policies are published on the website. |
Sürdürülebilirlik Politikaları; https://www.dogusotomotiv. com.tr/tr/surdurulebilirlik/ strateji-ve-yonetim/ surdurulebilirlik-politikalari 2023 Entegre Sürdürülebilirlik Raporu Doğuş Otomotiv Bilgilendirme Politikası, 31 Doğuş Otomotiv Çevre Politikası, 41 Uygulama ve İzleme, 55 Çeşitlilik ve Kapsayıcılık, 55 Sağlık ve Güvenlik Politikaları, 56 Sürdürülebilir Satın Alma Politikası, 82-83 |
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| A1.2 | Short and long-term targets set within the scope of ESG policies have been disclosed to the public. |
l | 2023 Sustainability Report was shared with the public in August 2024. |
2023 Integrated Sustainability Report Highlights of Our Goals, 28-29 Future Outlook and Goals, 92-93 |
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| A2. Implementation /Monitoring |
|||||||
| A2.1 | The committees and/or units responsible for the implementation of ESG policies and the highest level officials in the partnership related to ESG issues and their duties have been identified and disclosed to the public. |
l | It is published under the Sustainability Strategy and Management heading on the website. |
Corporate Sustainability Strategy https://www.dogusotomotiv. com.tr/en/sustainability/ strategy-and-management/ strategy-and-management 2023 Integrated Sustainability Report Coporate Governance and Sustainability Management, 30-32 |
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| Activities carried out within the scope of policies by the responsible committee and/or unit are reported to the board of directors at least once a year. |
l | The Corporate Governance and Sustainability Committee convened 4 times in 2024 and the meeting results were reported to the Board of Directors. |
2023 Integrated Sustainability Report Corporate Governance and Sustainability Management, 30-32 |
| A2.2 | In line with the ESG targets, implementation and action plans have been created and disclosed to the public. |
l | 2023 Sustainability Report was shared with the public in August 2024. |
2023 Integrated Sustainability Report Strategy and Material Issues, 16-19 Ingredients of Double Materiality Approach, 19-23 Material Focus Topics, 23 Management of Sustainability Risk and Opportunity, 24-26 Corporate Governance and Sustainability Management, 30-32 Risk Management, 33 Future Outlook and Goals, 92-93 |
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|---|---|---|---|---|---|---|
| A2.3 | The Key ESG Performance Indicators (KPI) and the level of reaching these indicators have been disclosed to the public on yearly basis. |
l | 2023 Sustainability Report was shared with the public in August 2024. |
2023 Integrated Sustainability Report Highlights from Our Goals, 28-29 Sustainability Performance, 39-91 |
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| A2.4 | The ESG Key Performance Indicators (KPI) and the level of achieving these indicators on a yearly basis have been disclosed to the public. |
l | 2023 Sustainability Report was shared with the public in August 2024. Since 2009, Doğuş Otomotiv has been disclosing its sustainability performance at international standards in detail in its Sustainability Reports, including all its processes and subsidiaries. |
2023 Integrated Sustainability Report Product and Service Performance, 76-87 |
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| A3. Reporting | ||||||
| A3.1 | Information regarding the sustainability performance, targets, and actions of the partnership is given in a comprehensible, accurate, and sufficient fashion in the annual reports. |
l | Doğuş Otomotiv discloses its detailed sustainability performance within the scope of sustainability reports in the second quarter of the following year. However, a summarised performance information is included in the annual report. |
2024 Annual Report, 98-107 | ||
| A3.2 | Information on which of company activities are related to the United Nations (UN) 2030 Sustainable Development Goals has been disclosed to the public by the partnership. |
l | 2023 Sustainability Report was shared with the public in August 2024. |
2023 Integrated Sustainability Report Indexes, 177-233 |
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| A3.3 | Lawsuits filed and/or concluded against ESG issues, which are important in terms of ESG policies and/or will significantly affect activities, have been disclosed to the public. |
l | 2023 Sustainability Report was shared with the public in August 2024. |
2023 Integrated Sustainability Report Indexes, 177-233 Law, 165 |
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| A4. Verification | ||||||
| A4.1 | The partnership's ESG Key Performance metrics have been verified and publicly disclosed by an independent third party. |
l | The data included in Doğuş Otomotiv Sustainability Reports are partially verified by an independent audit firm. Detailed verification documents are attached to the sustainability reports. |
2023 Integrated Sustainability Report PwC Reporting Guide, 244 Independent Assurance Statement, 249 |
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| B. Environmental Principles | ||||||
| B1 | The partnership has disclosed its policies and practices, action plans, environmental management systems (known by the ISO 14001 standard) and programs in the field of environmental management to the public. |
l | Doğuş Otomotiv holds ISO 14001 Certificate. The Company discloses its environmental performance in line with its focus areas in its Sustainability Reports on a regular basis every year. |
2023 Integrated Sustainability Report Environmental Sustainability, 39-49 Environment and Climate Change Performance, 94-108 |
| B2 | The scope of the report, the reporting period, the reporting date, and the limitations regarding the reporting conditions have been disclosed to the public regarding the environmental reports prepared to provide information on environmental management. |
l | Doğuş Otomotiv complies with all environmental laws and regulations and monitors the process through the ISO 14001 compliance obligations document. Our company has an appointed environmental manager. There is also an Environmental Committee reporting directly to the Corporate Governance and Sustainability Committee. |
2023 Integrated Sustainability Report Environmental Sustainability, 39-49 |
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|---|---|---|---|---|---|---|
| B4 | Environmental targets included in the rewarding criteria within the scope of performance incentive systems for stakeholders (such as members of the Board of Directors, managers, and employees) have been disclosed to the public. |
l | Not yet disclosed. | |||
| B5 | The company has disclosed to the public its methods of integrating priority environmental issues into business objectives and strategies. |
l | Doğuş Otomotiv discloses its environmental data every year in line with its focus areas and shares its targets with the public where possible. It also encourages its subsidiaries, authorised dealers and aftersales services and suppliers to disclose their environmental data across the entire value chain. It has added sustainability principles to the categorisation and audit processes of its suppliers and procurement processes and has started to include these stakeholders in its sustainability report since 2015. |
2023 Integrated Sustainability Report Strategy and Material Issues, 16-19 Ingredients of Double Materiality Approach, 19-23 Material Focus Topics, 23 Management of Sustainability Risk and Opportunity, 24-26 Corporate Governance and Sustainability Management, 30-32 Risk Management, 33 |
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| B7 | The company has publicly disclosed how environmental issues in the operational process are managed and integrated into business objectives and strategies along the partnership value chain, including suppliers and customers. |
l | Since 2009, Doğuş Otomotiv has been disclosing its environmental data in line with the priorities determined in accordance with the AA1000SES Standard. The focus areas were renewed in 2023 in line with changing conditions and stakeholder expectations, and reporting has been started in line with the new focus areas since then. All details regarding integration into business strategies are published in the Sustainability Report. |
2023 Integrated Sustainability Report Product and Service Responsibility, 76-87 Authorized Dealers and Services, Quality Management Systems, 152-156 Sustainable Supply Chain Management, 150-151 |
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| B8 | Whether relevant organizations and non governmental organizations on the environment were involved in the policy making processes and the collaborations with these institutions and organizations have been disclosed to the public. |
l | Efforts are made to cooperate with environmental unions and associations when deemed necessary and in line with the Company›s priorities, and cooperation alternatives are evaluated in the future. All collaborations are disclosed to the public within the scope of sustainability reports. |
Memberships and Collaborations https://www.dogusotomotiv. com.tr/en/sustainability/ strategy-and-management/ stakeholder-engagement/ memberships-and collaborations |
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| B9 | Information about environmental effects in the light of environmental indicators (greenhouse gas emissions [Scope-1: direct, Scope-2: energy indirect, Scope-3: other indirect], air quality, energy management, water and wastewater management, waste management, and biodiversity) has been disclosed to the public on a comparable basis periodically. |
l | Doğuş Otomotiv has been comparatively publishing its environmental data within the scope of sustainability reports since 2009 in line with its priorities. ISO 14001: 2015 Environmental Management System certification was completed in 2021. Although emissions were disclosed in previous years, Scope 1-2-3 and total carbon footprint were disclosed for Doğuş Otomotiv for the first time in the 2021 Sustainability Report. In the 2023 Sustainability Report, comparative data for the last 3 years (2021- 2022-2023) are given. |
2023 Integrated Sustainability Report Value Creation Model, 14-16 Environment and Climate Change Performance, 94-108 |
| B10 | Details of the standards, protocols, methodology, and base year used to collect and calculate data have been disclosed to the public. |
l | Doğuş Otomotiv uses the methodology recommended by GRI Standards as well as local laws and regulations in the disclosure of environmental data. The data are collected and consolidated by the members of the Sustainability Council, which is formed within the Company and includes employees from all departments. As of 2021, environmental data has been calculated and disclosed in accordance with ISO 14064. It will be disclosed in this way in the following years as well. |
2023 Integrated Sustainability Report Environmental Sustainability, 39-49 Environment and Climate Change Performance, 94-108 |
|---|---|---|---|---|
| B11 | Compared to previous years, the increase or decrease in the environmental indicators for the reporting year has been disclosed to the public. |
l | Due to the change in priority focus areas between 2009-2017 and 2018-2020, there has been a change in comparable data. However, since the regularly published reports since 2018, necessary comparisons can be made due to reporting on the same factors. As of 2021, environmental data started to be reported in accordance with ISO 14064. |
2023 Integrated Sustainability Report Environment and Climate Change Performance, 94-108 |
| B12 | Short and long-term targets have been determined to reduce environmental impacts, and the progress of these targets in years has been disclosed to the public. |
l | Doğuş Otomotiv also publishes its environmental performance in its Sustainability Reports in accordance with international standards. At the same time, as a UNGC signatory since 2010, it also includes the UNGC index in its reports and declares its commitments. |
2023 Integrated Sustainability Report Highlights of Our Goals, 28-29 Future Outlook and Goals, 92-93 |
| B13 | A strategy to combat the climate crisis has been created and the planned actions have been disclosed to the public. |
l | Doğuş Otomotiv has publicly declared that it recognises climate change as a financial risk together with its economic development policy. In addition, all strategies are declared within the scope of environmental and energy management policy and sub-impact areas policy. |
2023 Integrated Sustainability Report Strategy and Material Issues, 16-19 Ingredients of Double Materiality Approach, 19-23 Material Focus Topics, 23 Management of Sustainability Risk and Opportunity, 24-26 Corporate Governance and Sustainability Management, 30-32 Risk Management, 33 Environmental Sustainability, 39-49 |
| To prevent or minimize the potential negative impacts of products and/or services on the environment, programs or procedures have been established and disclosed to the public. |
l | In line with the policy of managing the environmental impact of products and services and impact area performance, all actions are explained within the scope of material focus areas. |
Sustainability Policies https://www.dogusotomotiv. com.tr/en/sustainability/ strategy-and-management/ sustainability-policies 2023 Integrated Sustainability Report Product and Service Responsibility, 76-87 Environmental Sustainability, 39-49 |
|
| B14 | Actions have been taken to reduce greenhouse gas emissions of third parties (e.g. suppliers, subcontractors, dealers, etc.) and these actions have been disclosed to the public. |
l | Doğuş Otomotiv disclosed its greenhouse gas emissions for the first time in 2021 within the scope of its sustainability report in accordance with ISO 14064. It collects Scope 3 data on a limited basis. In the 2023 sustainability report, work was initiated to expand Scope 3 data areas and data was collected to be published in the 2023 sustainability report. In the 2023 Sustainability Report, the data |
2023 Integrated Sustainability Report Environment and Climate Change Performance, 94-108 |
was updated and published.
| B15 | The environmental benefits/ gains and cost savings of the initiatives and projects aimed at reducing environmental impacts have been disclosed to the public. |
l | Data for 2023 was disclosed in the sustainability report published in August 2024. |
2023 Integrated Sustainability Report Environmental Sustainability, 39-49 Product and Service Responsibility, 76-87 |
|
|---|---|---|---|---|---|
| B16 | Scope-1 and Scope-2 data on energy consumption (natural gas, diesel, gasoline, LPG, coal, electricity, heating, cooling, etc.), have been disclosed to the public. |
l | Data for 2023 was disclosed in the sustainability report published in August 2024. |
2023 Integrated Sustainability Report Value Creation Model, 14-16 Environment and Climate Change Performance, 94-108 |
|
| B17 | Information about the electricity, heat, steam and cooling production in the reporting year has been disclosed to the public. |
l | Doğuş Otomotiv started the construction of solar energy panels on the roof of the Logistics Centre in Şekerpınar in 2021 with an investment of USD 2.4 million and continued to generate the electricity used in the Şekerpınar campus directly from renewable energy sources with the investment completed in 2022. With this investment, 60% of the electricity was covered in 2022 and 67% in 2023. The 2025 target is to increase the coverage rate to 76%. The 2023 Sustainability Report describes the targets. |
2023 Integrated Sustainability Report Environment and Climate Change Performance, 94-108 Renewable Energy Initiatives, 40 SPP Investments in Authorized Dealers and After-sales Service Centers, 45 |
|
| B18 | Efforts on increasing the use of renewable energy and the transition to zero or low carbon electricity have been made and publicly announced. |
l | Doğuş Otomotiv completely switched to renewable energy with the SPP investment made in Şekerpınar campus in 2022. With the GES investment, 60% of the electricity was covered in 2022 and 67% in 2023. The 2025 target is to increase the coverage rate to 76%. The 2023 Sustainability Report describes the targets. |
2023 Integrated Sustainability Report Environment and Climate Change Performance, 94-108 Renewable Energy Initiatives, 40 SPP Investments in Authorized Dealers and After-sales Service Centers, 45 |
|
| B19 | Data on renewable energy production and usage has been disclosed to the public. |
l | Doğuş Otomotiv started the construction of solar energy panels on the roof of the Logistics Centre in Şekerpınar in 2021 with an investment of USD 2.4 million and continued to generate the electricity used in the Şekerpınar campus directly from renewable energy sources with the investment completed in 2022. With this investment, 60% of the electricity was covered in 2022 and 67% in 2023. The 2025 target is to increase the coverage rate to 76%. The 2023 Sustainability Report describes the targets. |
2023 Integrated Sustainability Report Environment and Climate Change Performance, 94-108 Renewable Energy Initiatives, 40 SPP Investments in Authorized Dealers and After-sales Service Centers, 45 Highlights of Our Goals, 28-29 |
|
| B20 | Energy efficiency projects have been carried out and the amount of energy consumption and emission reduction achieved through energy efficiency projects has been disclosed to the public. |
l | Doğuş Otomotiv started the construction of solar energy panels on the roof of the Logistics Centre in Şekerpınar in 2021 with an investment of USD 2.4 million and continued to generate the electricity used in the Şekerpınar campus directly from renewable energy sources with the investment completed in 2022. With this investment, 60% of the electricity was covered in 2022 and 67% in 2023. The 2025 target is to increase the coverage rate to 76%. The 2023 Sustainability Report describes the targets. |
2023 Integrated Sustainability Report Environment and Climate Change Performance, 94-108 Renewable Energy Initiatives, 40 SPP Investments in Authorized Dealers and After-sales Service Centers, 45 Highlights of Our Goals, 28-29 |
| B21 | Water consumption, and if any, amounts of water drawn, recycled and discharged from underground or above ground, its sources, and procedures have been disclosed to the public. |
l | Water consumption is among Doğuş Otomotiv's priority focus areas. Since 2009, the Company has been disclosing water consumption per vehicle sold and conducting studies to reduce consumption. Comprehensive data is presented comparatively in the Sustainability Report. Doğuş Otomotiv also reports its Water Footprint by 2023. |
2023 Integrated Sustainability Report Environment and Climate Change Performance, 94-108 Water Management, 47-48 |
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|---|---|---|---|---|---|---|
| B22 | Information on whether the operations or activities are included in any carbon pricing system (Emissions Trading System, Cap & Trade or Carbon Tax) has been disclosed to the public. |
l | It is not among the Company›s material focus areas. Not evaluated within the scope of stakeholder expectations. |
|||
| B23 | Information on carbon credits accumulated or purchased during the reporting period has been disclosed to the public. |
l | It is not among the Company›s material focus areas. Not evaluated within the scope of stakeholder expectations. |
|||
| B24 | In case carbon pricing is put into practice within the partnership, the details are disclosed to the public. |
l | It is not among the Company›s material focus areas. Not evaluated within the scope of stakeholder expectations. |
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| B25 | The platforms where the partnership discloses its environmental information have been disclosed to the public. |
l | Doğuş Otomotiv publicly discloses all sustainability data on its website within the basic indicators of the standards. Apart from the notifications made to public authorities as required by legal obligations, the environmental data published are evaluated in the BIST Sustainability Index. |
2023 Integrated Sustainability Report Indexes, 177-233 |
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| C. Social Principles | ||||||
| C1. Human Rights and Employee Rights |
||||||
| C1.1 | The Corporate Human Rights and Employee Rights Policies have been drawn in a way to cover the Universal Declaration of Human Rights, ILO Conventions ratified by Türkiye, and other relevant legislation, those responsible for the implementation of the policy have been determined, and the policy and those responsible have been disclosed to the public. |
l | Doğuş Otomotiv's human rights policy meets the requirements within the scope of the Doğuş Otomotiv Code of Ethics, including the priority focus areas under the heading of human rights and the employees and work environment policy and related sub-policies. All necessary details and performances are disclosed on the website and in sustainability reports. |
Sustainability Policies https://www.dogusotomotiv.com. tr/en/sustainability/strategy-and management/sustainability policies Code of Ethics https://www.dogusotomotiv.com. tr/en/sustainability/our-people and-community-engagement/ business-ethics/dogus-otomotiv code-of-ethics |
| C1.3 | Measures taken along the value chain regarding the observance of certain groups sensitive to economic, environmental, and social factors (low-income groups, women, etc.) or issues regarding minority rights/ equality of opportunity have been disclosed to the public. |
l | Equality at Work Programme, Human Rights Policy, Discrimination Policy, Sustainable Procurement Policy |
Sustainability Policies https://www.dogusotomotiv.com. tr/en/sustainability/strategy-and management/sustainability policies Code of Ethics https://www.dogusotomotiv.com. tr/en/sustainability/our-people and-community-engagement/ business-ethics/dogus-otomotiv code-of-ethics |
|
|---|---|---|---|---|---|
| C1.4 | Developments regarding preventive and corrective practices against discrimination, inequality, violation of human rights, forced labor, and child labor have been disclosed to the public. |
l | Diversity and Equal Opportunity Policy, Human Rights Policy, Doğuş Otomotiv Code of Ethics, Anti-Discrimination Policy, Child Labour Management Approach, UN WMD Commitment |
Sustainability Policies https://www.dogusotomotiv.com. tr/en/sustainability/strategy-and management/sustainability policies Code of Ethics https://www.dogusotomotiv.com. tr/en/sustainability/our-people and-community-engagement/ business-ethics/dogus-otomotiv code-of-ethics |
|
| Issues regarding investment in employees (education, development policies), compensation, fringe benefits, right to unionize, work/life balance solutions, and talent management have been included in the Employee Rights Policy. |
l | All relevant details are published annually within the scope of sustainability reports. At the same time, information on the Code of Ethics, Ethics Line and related processes are included in the Code of Ethics. |
2023 Integrated Sustainability Report Employees, 50-60 Employees and Workplace Performance, 109-125 Sustainability Policies 2024 Annual Report, 108-120 |
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| C1.5 | Mechanisms for employee complaints and resolution of disputes were created and dispute resolution processes have been determined. |
l | All relevant details are published annually within the scope of sustainability reports. At the same time, information on the Code of Ethics, Ethics Line and related processes are included in the Code of Ethics. |
2023 Integrated Sustainability Report Employees, 50-60 Code of Ethics https://www.dogusotomotiv.com. tr/en/sustainability/our-people and-community-engagement/ business-ethics/dogus-otomotiv code-of-ethics 2024 Annual Report, 122 |
|
| Activities carried out within the reported period to ensure employee satisfaction have been disclosed to the public. |
l | All relevant details are published annually within the scope of sustainability reports. At the same time, information on the Code of Ethics, Ethics Line and related processes are included in the Code of Ethics. |
2023 Integrated Sustainability Report Employees, 50-60 Employees and Workplace Performance, 109-125 |
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| C1.6 | Occupational health and safety policies have been established and disclosed to the public. |
l | Occupational Health and Safety is among Doğuş Otomotiv›s priority focus areas for sustainability. Policies are available on the website. Relevant data is published comparatively in the Sustainability Report. In 2022, ISO 45001 Occupational Health and Safety Certificate was obtained. |
2023 Integrated Sustainability Report Material Focus Areas, 23 Employee Health and Safety, 56-57 Integrated Management Systems, 80 Occupational Health and Safety, 140-145 Quality Management Systems, 156 Sustainability Policies https://www.dogusotomotiv.com. tr/en/sustainability/strategy-and management/sustainability policies |
|
| Measures taken to prevent occupational accidents and protect health, along with accident statistics, have been disclosed to the public. |
l | Occupational Health and Safety is among Doğuş Otomotiv›s priority focus areas for sustainability. Policies are available on the website. Relevant data is published comparatively in the 2023 Sustainability Report. In 2022, ISO 45001 Occupational Health and Safety Certificate was obtained. |
2023 Integrated Sustainability Report Employee Health and Safety, 56-57 Occupational Health and Safety, 140-145 |
| C1.7 | Personal data protection and data security policies have been established and disclosed to the public. |
l | Developments have been made in accordance with all legal regulations on the Protection of Personal Data, and the process is managed at the most advanced level. At the same time, ISO 27001 Information Security Management System installation works were started in 2021 and certification was obtained in 2022. |
Sustainability Policies https://www.dogusotomotiv. com.tr/en/sustainability/ strategy-and-management/ sustainability-policies 2023 Integrated Sustainability Report Compliance Management and Business Ethics, 34-36 Digital Transformation and Data Security, 146-147 |
C2.1 | C2. Stakeholders, International Standards, and Initiatives The Customer Satisfaction Policy regarding the management and resolution of customer complaints has been prepared and disclosed to the public. |
l | ||
|---|---|---|---|---|---|---|---|---|---|
| Integrated Management Systems, 80 Occupational Health and Safety, 140-145 Quality Management Systems, 156 2024 Annual Report, 41 |
C2.2 | Information about the communication with stakeholders (which stakeholder, subject, and contact frequency) has been disclosed to the public. |
l | ||||||
| C1.8 | Ethics policy has been established and disclosed to the public. |
l | Doğuş Otomotiv Code of Ethics has been published on the website accessible by all our stakeholders as a public commitment since 2012. |
Code of Ethics https://www.dogusotomotiv. com.tr/en/sustainability/ our-people-and-community engagement/business-ethics/ dogus-otomotiv-code-of ethics |
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| C1.9 | The studies related to social investment, social responsibility, finansal inclusivity and access to finance have been explained. |
l | Doğuş Otomotiv recognises the importance of safety in traffic and the value of human life. Doğuş Otomotiv is committed to providing the necessary services to ensure that its products and services have high standards and maintain these features throughout their lifetime. Its employees set an example and act responsibly regarding the importance of safety in traffic. It undertakes that the products it sells are of high standards regarding customer health and safety. It is obliged to provide high quality and high standards of maintenance and repair services limited to legal regulations in order to maintain these standards throughout the lifetime of the products it sells as long as its distributorship continues within the scope of distributorship agreements. It carries out and manages continuous information and awareness raising activities on traffic safety in dialogue and cooperation with relevant institutions and organizations. Ethical principles are understandable and accessible. It is supported by multiple participation. It is approved by senior management and is one of the main elements of corporate governance principles. It continues its efforts to ensure that the code of ethics becomes a comprehensive framework that encompasses all its processes. It acts away from unethical situations such as fraud and misconduct and informs its employees to raise their awareness and take responsibility in this regard. Initiates efforts to establish mechanisms to prevent fraud and misconduct and sets targets. |
2023 Integrated Sustainability Report Value Creation Model, 14-16 Social Awareness Programs, 60-63 |
C2.3 | International reporting standards adopted in reporting were explained. |
l | ||
| C1.10 | Briefing meetings and training programs on ESG policies and practices were organized for employees. |
l | All training, practices, and policy briefings related to sustainability are updated and published every year within the scope of sustainability reports. |
2023 Integrated Sustainability Report Employee Well-Being Programs, 50-51 Employees and Workplace Performance, 109-125 |
| Customer Management and related strategies and practices are explained in detail in sustainability reports. |
2023 Integrated Sustainability Report Customer Relationship Management, 64-66 Customers, 147-149 2024 Annual Report, 42-48 |
|---|---|
| Doğuş Otomotiv identified its key stakeholders using AA1000SES methodology through a workshop organized in 2009 and focused its sustainability strategy on stakeholder engagement. All relevant strategies and practices, and stakeholder engagement platforms are disclosed on the website. Current performances are included in sustainability reports. |
Stakeholder Engagement https://www.dogusotomotiv. com.tr/en/sustainability/ strategy-and-management/ stakeholder-engagement |
| Doğuş Otomotiv has been regularly publishing sustainability reports every year since 2009 in accordance with the GRI Global Reporting Initiative framework. It publishes reports at comprehensive reporting level according to GRI Standards, the latest reporting framework of the initiative. Doğuş Otomotiv's 2023 Integrated Sustainability Report is prepared by Doğuş Otomotiv Servis ve Tic. A.Ş. and its subsidiaries' financial and non-financial performances. The content and scope of the report were determined by the Materiality Study, which was updated in 2023 in accordance with the principle of Bidirectional Priority. The 2023 Sustainability Report has been prepared in accordance with the Global Reporting Initiative (GRI) 2021 Standards and is confirmed by a self declaration. In addition, it also observes compliance with the United Nations Global Compact (UNGC), the United Nations Sustainable Development Goals (UN SDGs), the United Nations Women's Empowerment Principles (UN WEP) and the United Nations Guiding Principles on Business and Human Rights. It also includes the Global Automotive Sustainability Implementation Guide Index of the Automotive Industry Action Group (AIAG) and sectoral indicators published by the Sustainability Accounting Standards Board (SASB). For the first time this year, Doğuş Otomotiv prepared its Sustainability Report in compliance with TSRS (Turkish Sustainability Reporting Standards). Compliance with reporting standards can be found in detail in the index at the end of the report. |
2023 Integrated Sustainability Report About the Report, 6 |
| DOĞUŞ OTOMOTİV SERVİS VE TİCARET A.Ş. | ||||||||
|---|---|---|---|---|---|---|---|---|
| DIVIDEND DISTRIBUTION TABLE FOR THE YEAR 2024 (TRY) | ||||||||
| ı٠ | Paid -in /Issued Capital | 220.000.000.00 | ||||||
| 2. | Legal Reserves (According to Legal Records) | 2.921.570.830.00 | ||||||
| iformation on the profit distribution privilege, if any, as required by the articles of association | None | |||||||
| According to the CMB | According to legal records | |||||||
| 3. | Profit for the period | 12.698.395.000.00 | 15.776.327.819.00 | |||||
| 4- | $Taxes(-)$ | (5.055.405.000.00) | (3.634.987.350,00) | |||||
| 5- | Net profit for the period (*) | 7.592.264.000,00 | 12.141.340.470.00 | |||||
| 6- | Accumulated losses (-) | |||||||
| 7. | Legal Reserves(-) | |||||||
| 8- | NET DISTRIBUTABLE PROFIT FOR THE PERIOD | 7.592.264.000,00 | 12.141.340.470.00 | |||||
| Dividend advances made through the year (-) | (2.200.000.000,00) | (2.200.000.000,00) | ||||||
| Distributable Net Income/Loss for the Period excluding dividend advances | 5.392.264.000,00 | 9.941.340.470,00 | ||||||
| 9- | Donations made through the year (+) | 1.094.570.234.00 | ||||||
| 10- | Distributable Net Income for the Period including Donations | 6.486.834.234,00 | ||||||
| 11- | First Dividend to the Shareholders | 3.243.417.117.00 | ||||||
| - Cash | 3.243.417.117.00 | |||||||
| -Non-paid | ||||||||
| 12- | Dividend Distributed to Privileged Shareholders | |||||||
| 13- | Dividend Distributed to | |||||||
| - Board members | ||||||||
| -Employees | ||||||||
| -Other than shareholders | ||||||||
| 14- | Dividend Distributed to Redeemed Shareholders | |||||||
| 15- | Second Dividend to Shareholders | 3.529.946.883,00 | ||||||
| 16- | Legal Reserves | 818.900.000,00 | ||||||
| 17- | Statutory Reserves | |||||||
| 18- | Special Reserves | |||||||
| 19- | EXTRAORDINARY RESERVES | 3.122.440.470.00 | ||||||
| 20- | Other Reserves Distributable | 1,426,636,000.00 | ||||||
| IVIDEND RATIO TABLE | ||||||||
| DIVIDEND INFORMATION $($ **) |
TOTAL DIVIDEND PAYOUT AMOUNT | TOTAL DIVIDEND DISTRIBUTED /NET DISTRIBUTABLE PROFIT FOR THE PERIOD |
DIVIDEND PER SHARE OF 1 TRY NOMINAL VALUE | |||||
| CASH (TL) *** | FREE OF CHARGE (TL) |
RATIO (%) | AMOUNT (TL) | RATIO (%) | ||||
| - GROSS | 6.000.000.000.00 | 79.0 | 27,2727272 | 2727,27272 | ||||
| - NET | 5.100.000.000,00 | 67.2 | 23,1818181 | 2318,18181 | ||||
| (*) Net profit for the period for the Parent, except Non-controlling interest. | ||||||||
| (**) Represents the amounts in case of gross distribution or net distribution after 15% withholding tax. | ||||||||
| C2.4 | Principles adopted regarding sustainability, and international organizations, committees, and principles that were signed up or joined have been disclosed to the public. |
l | Doğuş Otomotiv has been a signatory to the UNGC United Nations Global Principles since 2010 and the relevant indexes are published on the website and within the scope of sustainability reports. In 2022, Doğuş Otomotiv also joined UN WEPs as a signatory, and the related reporting is included in the 2022 and 2023 Sustainability Report. Doğuş Otomotiv has regularly included the UN Sustainable Development Goals Index in its sustainability report every year since 2017. With the 2020 Report, the AIAG Principles index is also included in the report. The 2023 Sustainability Report has been prepared in accordance with the Global Reporting Initiative (GRI) 2021 Standards and is confirmed by a self-declaration. It also observes compliance with the United Nations Global Compact (UNGC), the United Nations Sustainable Development Goals (UN SDGs), the United Nations Women's Empowerment Principles (UN WEP) and the United Nations Guiding Principles on Business and Human Rights. It also includes the Global Automotive Sustainability Implementation Guide Index of the Automotive Industry Action Group (AIAG) and sectoral indicators published by the Sustainability Accounting Standards Board (SASB). For the first time this year, Doğuş Otomotiv prepared its Sustainability Report in compliance with TSRS (Turkish Sustainability Reporting Standards). Compliance with reporting standards can be found in detail in the index at the end of the report. |
2023 Integrated Sustainability Report About the Report, 6 Indexes, 177-233 |
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|---|---|---|---|---|---|---|
| C2.5 | Improvements were made and efforts were undertaken to be included in the sustainability indices of Borsa Istanbul and/or international index providers. |
l | Doğuş Otomotiv has been included in the BIST Sustainability Index since 2014-2015. In 2022, it was also included in the BIST Sustainability 25 Index, which was announced for the first time. Monitoring and planning activities for international indices are ongoing. |
2024 Annual Report, 98 | ||
| D. Corporate Governance Principles |
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| D1 | Opinions of the stakeholders were sought in the determination of measures and strategies in the field of sustainability. |
l | No efforts were made to seek the views of stakeholders. However, the opinions of key stakeholders were taken into consideration in stakeholder engagement processes while determining the strategy and prioritised focus areas. |
2023 Integrated Sustainability Report Stakeholder Engagement, 91 Doğuş Otomotiv Dialogue Platforms https://www.dogusotomotiv. com.tr/en/sustainability/ strategy-and-management/ stakeholder-engagement |
||
| D2 | Social responsibility projects, awareness activities, and pieces of training have been carried out to raise awareness of the issue of sustainability and its importance. |
l | Sustainability is strategically addressed throughout our value chain, including all our stakeholders, and information activities are carried out through face-to-face trainings and meetings, including third parties. |
2023 Integrated Sustainability Report Social Awareness Programs, 60-63 |
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