2020 1st Quarter

TOKKDEROPERATIONAL LEASING SECTOR REPORT

2

CONTENT

03 Aim and Scope

06Methodology & Participating Companies

10 Summary

15 Vehicle Park

20 Contract Structure

23Vehicle Investments (Purchases, Sales and Paid Taxes)

31 Number of Customers

3

1- AIM AND SCOPE

4

MARKET INFORMATION

*Leaseeurope has 45 members in 32 countries and is known with its effects on EU regulations.

TOKKDER was founded in Istanbul in 1996 to integrate rent a car and car

leasing companies under the same roof.

Vision

To become a reference and a professional

umbrella organization in car rental business, of

whom all actors in the sector wish to become

a member of and to be the reference figure the

legislator and the regulatory authorities seek

consultance from.

About TOKKDER

o 123 Members

o Rent a Car and Operational Leasing Sectors

o Member structure that covers 80% of sector

o Member of Leaseurope*

5

AIM AND SCOPE OF THE RESEARCH

To draw the overall picture Operational Leasing Sector,

To identify the potential and trends of the sector,

To inform customers, automotive and finance sectors, members and

public about the sector trends.

AIM

SCOPE

Vehicle park of the sectoro Make

o Segment

o Fuel type

o Transmission type

Total number of customers

Within the period;o # of purchased and sold vehicles

o Vehicle investment

o Paid taxes (SCT, VAT, MVT)

Number of contracts o Term & Currency based,

6

2- METHODOLOGY AND

PARTICIPATING

COMPANIES

7

METHODOLOGY

The questionnaire which is prepared under the scope of the research and

approved by the Competition Agency, was delivered to Nielsen in the digital

environment by each company.

Total sector parameters are calculated by projecting the total

vehicle purchase volume of the participating companies to the

total sales figures to operational leasing sector which are

estimated by using ODD reports and TOKKDER predictions.

Hence, the sector representation ratio of the participating

companies are as follows:

2014 %66,3

2015 %67,5

2016 %76,9

2017 %78,2

2018 %71,4

2019 %69,4

2020 %71,2

8

PARTICIPATING COMPANIES

ALD AUTOMOTIVE

ARKAS OTO FİLO YÖNETİMİ

ATAKO DESTEK ARAÇ KİRALAMA

AUTOLAND OTOMOTİV

ESCAR FİLO KİRALAMA

TEB ARVAL

BORUSAN OTOMOTİV PREMIUM KİRALAMA

OTO PLAN OPERASYONEL TAŞIT KİRALAMA

GARENTA

BORLEASE

DRD FİLO KİRALAMA

GARANTİ BBVA FİLO

HEDEF FİLO

LEASEPLAN

OTOKOÇ OTOMOTİV

LİDER FİLO

DENİZFİLO

• * Tan Oto Motorlu Araçlar and VDF Filo have stopped participating the research since Q1 2019

• * Garenta started to participate the research since Q4 2019

9

DISTRIBUTION ACCORDING TO SIZE - PARTICIPATING

COMPANIES Q1 2020

2

1

3

1

10

0

4

8

12

> 25.000 20.001 - 25.000 15.001 - 20.000 10.000 - 15.000 < 10.000

10

3- SUMMARY

11

PARTICIPANTS AND SECTOR ESTIMATES2020 Q1

Participants Sector Estimates

# of Vehicles (000) 188,3 264,4

# of Purchased Vehicles (000) 5,6 7,8

# of Sold Vehicles (000) 15,8 22,2

# of Customers (000) 27,1 38,1

Amount of Purchased Vehicles

(Bn TL)1,0 1,3

Tax Paid (Bn TL)

VAT+MVT+SCT0,6 0,8

Sum of Actives (Bn TL) 20,8 29,3

Items representing the status as of the end of the period (End Q1 2020) : # of Vehicles, # of Customers, Sum of Actives

Items representing Jan – Mar 2020 period: # of Purchased / Sold Vehicles, Amount of Purchased Vehicles & Tax Paid

12

ESTIMATED GROWTH OF VEHICLE PARK OF THE

SECTOR (000) ANNUAL

237

277

331

366

324

279264

0

100

200

300

400

500

600

2014 2015 2016 2017 2018 2019 2020 Q1

-5,1%

-13,9%-11,5%

10,6%

19,3%17,0%14,3%

-100,0%

-80,0%

-60,0%

-40,0%

-20,0%

0,0%

20,0%

13

ESTIMATED GROWTH OF VEHICLE PARK OF THE

SECTOR (000) QUARTERLY

338 347366 361 365

343324

305 295 284 279264

0

100

200

300

400

500

600

2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1

-5,1%-1,8%-3,7%-3,5%-5,7%-5,7%-5,9%

1,1%-1,4%

5,5%2,7%3,1%

-100,0%

-80,0%

-60,0%

-40,0%

-20,0%

0,0%

20,0%

14

GROWTH RATES / BENCHMARKSTURKEY ECONOMY / AUTOMOTIVE SECTOR / OPERATIONAL LEASING SECTOR

• Source : ODD data used for passenger car growth. Turkish Statistical Institude (TurkStat) data used for Turkey growth rate

• Q1 2020 growth rate (GDP) for Turkey has not been published yet.

• Q1 2020 is compared to Q1 2019.

14,3%17,0%

19,3%

10,6%

-11,5%-13,9% -13,4%

3,0% 4,0% 2,9%

7,4%

2,6%0,9%

-11,6%

23,5%

4,3%

-4,5%

-33,0%

-20,4%

44,8%

-40,0%

-30,0%

-20,0%

-10,0%

0,0%

10,0%

20,0%

30,0%

40,0%

50,0%

2014 2015 2016 2017 2018 2019 2020 1.Çeyrek

Operational Leasing Sector Turkey Economy Passenger Car

15

4- VEHICLE PARK

16

MAKE BASED DISTRIBUTIONQ1 2020

26,5%

13,5%12,0%

10,8%

5,1%4,4% 4,3% 3,8%

3,1% 2,7% 2,5%

11,3%

0%

5%

10%

15%

20%

25%

30%

RENAULT FIAT VW FORD SKODA AUDI PEUGEOT OPEL HYUNDAI CITROEN BMW OTHER

17

VEHICLE SEGMENTSQ1 2020

50,1%

27,6%

13,9%

4,6% 3,8%

0%

10%

20%

30%

40%

50%

60%

C B D E-F (SUV) LCV

18

FUEL TYPEQ1 2020

92,9%

6,4%

0,7%

44,9% 46,6%

8,5%

0,0%

10,0%

20,0%

30,0%

40,0%

50,0%

60,0%

70,0%

80,0%

90,0%

100,0%

DIESEL BENZINE OTHER

Operational Leasing Sector

Automotive Sector

19

TRANSMISSION TYPEQ1 2020

61,4%

38,6%

71,5%

28,5%

0,0%

10,0%

20,0%

30,0%

40,0%

50,0%

60,0%

70,0%

80,0%

AUTOMATIC MANUAL

Operational Leasing Sector

Automotive Sector

20

5- CONTRACT STRUCTURE

21

CONTRACT FEATURES / TERMS (MONTHS)Q1 2020

8,4%

15,4%

61,2%

15,0%

0%

10%

20%

30%

40%

50%

60%

70%

80%

<18 m 18-30 m 30-42 m >43 m

22

CONTRACT FEATURES / CURRENCYQ1 2020

44,0%

55,4%

0,6%0%

10%

20%

30%

40%

50%

60%

70%

80%

EUR TL USD

23

6- VEHICLE INVESTMENTS,

PURCHASES,

SALES AND PAID TAXES

24

VEHICLE PURCHASES – BILLION TLANNUAL

7,0

8,5

10,9

13,9

10,5

5,5

1,3

0,0

2,0

4,0

6,0

8,0

10,0

12,0

14,0

16,0

2014 2015 2016 2017 2018 2019 2020 Q1

25

VEHICLE PURCHASES – BILLION TLQUARTERLY

2,9

3,3

5,4

3,0

3,5

2,6

1,5

0,8

1,20,9

2,6

1,3

0

1

2

3

4

5

6

2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1

26

NUMBER OF PURCHASED VEHICLES (000)ANNUAL

103

123

147 148

89

44

8

0

20

40

60

80

100

120

140

160

180

2014 2015 2016 2017 2018 2019 2020 Q1

27

OPERATIONAL LEASING / SHARE IN AUTOMOBILE

PURCHASES ANNUAL

17,6%17,0%

19,4%20,4%

18,4%

11,4%

7,9%

0,0%

5,0%

10,0%

15,0%

20,0%

25,0%

2014 2015 2016 2017 2018 2019 2020 Q1

28

AVERAGE PRICE FOR PURCHASED VEHICLES (000 TL)ANNUAL

67,8 69,374,0

93,9

117,4125,5

170,7

0,0

20,0

40,0

60,0

80,0

100,0

120,0

140,0

160,0

180,0

2014 2015 2016 2017 2018 2019 2020 Q1

29

ESTIMATED # OF VEHICLES SOLD FOR THE SECTOR (000)ANNUAL

74,0

83,0

94,0

112,0

131,0

89,1

22,2

0,0

20,0

40,0

60,0

80,0

100,0

120,0

140,0

160,0

2014 2015 2016 2017 2018 2019 2020 Q1

30

SECTOR TAX TRENDBILLION TL

2,10

1,02

0,21

3,33

2,49

1,31

0,27

4,07

3,00

1,64

0,31

4,95

4,55

2,16

0,41

7,12

3,20

1,65

0,42

5,27

1,56

0,95

0,47

2,98

0,400,21 0,16

0,78

0,00

1,00

2,00

3,00

4,00

5,00

6,00

7,00

8,00

SCT VAT MVT TOTAL

2014 2015 2016 2017 2018 2019 2020 Q1

31

7- NUMBER OF

CUSTOMERS

32

TOTAL NUMBER OF SECTOR’S CUSTOMERS (000)ANNUAL

33,1

42,6

56,7

64,2

56,0

40,538,1

0,0

10,0

20,0

30,0

40,0

50,0

60,0

70,0

80,0

2014 2015 2016 2017 2018 2019 2020 Q1

33

TOTAL NUMBER OF SECTOR’S CUSTOMERS (000)QUARTERLY

59,862,8 64,2 65,1 64,8

60,056,0

53,8

49,0

44,040,5

38,1

0,0

10,0

20,0

30,0

40,0

50,0

60,0

70,0

80,0

2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1

34

COMPARISON OF THE CUSTOMER NUMBER GROWTH

14,3%

3,0%

-11,6%

26,5%

17,0%

4,0%

23,5%

28,7%

19,3%

2,9% 4,3%

33,0%

10,6%7,4%

-4,5%

13,2%

-11,5%

2,6%

-33,0%

-12,7%-13,9%

0,9%

-20,4%

-27,8%

-13,4%

44,8%

-29,3%

-40,0%

-30,0%

-20,0%

-10,0%

0,0%

10,0%

20,0%

30,0%

40,0%

50,0%

Opeational Leasing Sector Turkey Economy Passenger Car # of Customers

2014 2015 2016 2017 2018 2019 2020 Q1

• Q1 2020 growth rate (GDP) for Turkey has not been published yet.

• Q1 2020 is compared to Q1 2019.

35

NUMBER OF VEHİCLES PER CUSTOMERANNUAL

6,6

5,9

5,3 5,2 5,3

6,36,5

0,0

1,0

2,0

3,0

4,0

5,0

6,0

7,0

8,0

2014 2015 2016 2017 2018 2019 2020 Q1