Tofas Turk Otomobil Fabrikasi AS: Segment Analysis

Tofas Turk Otomobil Fabrikasi AS (Tofas) manufactures and sells passenger cars and commercial vehicles. It also designs, configures, and implements works for the manufacturing process of new models. The company manufactures the Fiat Egea Sedan, Hatchback and Station Wagon models, Yeni Doblo, MCV and is the Turkish representative of six international automobile brands, which include Alfa Romeo, Ferrari, Fiat, Fiat Professional, Opel, Peugeot, Jeep and Maserati. The company also maintains a dealership network that provides new car and second-hand car sales, technological infrastructure-supported after-sales services, maintenance and repair services, and spare parts for all the brands under the company's portfolio.

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Tofas’s R&D focuses on the improvement of development of new products and manufacturing technological know-how, and innovative engineering designs. The company also aims at digital transformation, talent and the development of ecosystem. In FY2022, the Product-Development & Software division of the R&D Center of the company initiated its operations at the Technopark Izmir Software Center of the Izmir Institute of High Technology. The company aims to broaden the range of its automotive software development endeavors by utilizing its new R&D division in Izmir, which will enable the company to take on more responsibilities in various domains, including designing systems and components for different models and brands, executing physical and virtual verifications, and prototyping across the entire Stellantis network. The Izmir R&D center of Tofas will be engaged in addressing issues such as calibration and safety, data science and AI-based vehicle intelligence, solutions for autonomous and driverless vehicles, connectivity, automotive cybersecurity, and algorithms for the optimization and management of fleet services. The company also collaborates with universities to develop novel technologies and the company has collaborated with 16 universities on nearly 130 R&D projects over the past fifteen years and an addition of 72 new digitalization projects were added. The company's R&D center also conducts the Benim Project, which encourages employees to develop novel ideas and work together to develop them. Tofas also applied for 71 new patents in FY2022. In FY2022, the company spent TRY368.5 million on research and development, which as a percentage of revenue, stood at 0.6% and grew 191.3% YoY.