Dear Stakeholders,
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.
Doğuş Otomotiv: Committed to sustainable success
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.
A landmark year for electric vehicles
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.
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 year-end. 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.
Electrification: The future of automotive transformation
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.
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.
Preparing for transformations in business models
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.
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-learning-oriented 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.
We have a very strong foundation
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 long-term 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.
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.
Ready to embrace change
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.
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,
Emir Ali Bilaloğlu
Chairman of the Board of Directors and the Executive Board
