{"id":2480,"date":"2026-06-08T20:19:58","date_gmt":"2026-06-08T17:19:58","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2480"},"modified":"2026-06-08T20:44:43","modified_gmt":"2026-06-08T17:44:43","slug":"tofatan-2026da-rekor-kar-peugeot-opel-ve-citron-satlar-patlad","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2480","title":{"rendered":"Tofa\u015f&#8217;tan 2026&#8217;da Rekor Kar Peugeot Opel ve Citro\u00ebn Sat\u0131\u015flar\u0131 Patlad\u0131"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/creators.spotify.com\/pod\/profile\/market-risk-tr\/embed\/episodes\/Tofatan-2026da-Rekor-Kar-Peugeot-Opel-ve-Citron-Satlar-Patlad-Tofan-thalat-Patlamas-ve-Bor-Yk-e3kgpg7\/a-acmvaip\" width=\"400px\" height=\"102px\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<pre class=\"paragraph normal ng-star-inserted\" data-start-index=\"0\"><b class=\"ng-star-inserted\" data-start-index=\"0\">2026 Y\u0131l\u0131 Birinci \u00c7eyrek \u00d6nemli Geli\u015fmeler<\/b>\r\n\r\n<span class=\"ng-star-inserted\" data-start-index=\"42\">Tofa\u015f 2026 y\u0131l\u0131n\u0131n ilk \u00fc\u00e7 ayl\u0131k d\u00f6neminde has\u0131lat\u0131n\u0131 bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re yakla\u015f\u0131k \u00fc\u00e7 kat\u0131na \u00e7\u0131kararak 95,1 milyar TL seviyesine ula\u015ft\u0131rd\u0131<\/span>\r\n\r\n<span class=\"ng-star-inserted\" data-start-index=\"195\">Ge\u00e7en y\u0131l\u0131n ilk \u00e7eyre\u011finde 183,8 milyon TL zarar a\u00e7\u0131klayan \u015firket 2026 y\u0131l\u0131n\u0131n ayn\u0131 d\u00f6neminde 2,98 milyar TL net d\u00f6nem kar\u0131 elde ederek g\u00fc\u00e7l\u00fc bir finansal d\u00f6n\u00fc\u015f ger\u00e7ekle\u015ftirdi<\/span>\r\n\r\n<span class=\"ng-star-inserted\" data-start-index=\"370\">Stellantis Otomotiv Pazarlama A.\u015e ile birle\u015fmenin tescil edilmesiyle birlikte Peugeot, Citro\u00ebn, Opel ve DS markalar\u0131n\u0131n T\u00fcrkiye operasyonlar\u0131 tamamen Tofa\u015f \u00e7at\u0131s\u0131 alt\u0131nda topland\u0131<\/span>\r\n\r\n<span class=\"ng-star-inserted\" data-start-index=\"549\">Sat\u0131\u015f miktarlar\u0131 baz\u0131nda bak\u0131ld\u0131\u011f\u0131nda ithal ara\u00e7 sat\u0131\u015flar\u0131 Peugeot, Opel ve Citro\u00ebn markalar\u0131n\u0131n etkisiyle 7 bin adet seviyesinden 61 bin adedin \u00fczerine \u00e7\u0131kt\u0131<\/span>\r\n\r\n<span class=\"ng-star-inserted\" data-start-index=\"707\">\u015eirket 16 Mart 2026 tarihinde yap\u0131lan Ola\u011fan Genel Kurul karar\u0131yla hissedarlar\u0131na toplam 10 milyar TL tutar\u0131nda nakit temett\u00fc da\u011f\u0131t\u0131m\u0131 ger\u00e7ekle\u015ftirdi<\/span>\r\n\r\n<span class=\"ng-star-inserted\" data-start-index=\"856\">Toplam varl\u0131klar\u0131 200,8 milyar TL'ye ula\u015fan grubun \u00f6zkaynaklar\u0131 ise 58,9 milyar TL olarak kaydedildi<\/span><\/pre>\n<h1>Tofa\u015f T\u00fcrk Otomobil Fabrikas\u0131 A.\u015e. 2026 Birinci \u00c7eyrek Finansal Brifing Raporu<\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Tofa\u015f T\u00fcrk Otomobil Fabrikas\u0131 A.\u015e. (Tofa\u015f), 1 Ocak &#8211; 31 Mart 2026 d\u00f6nemini kapsayan ara hesap d\u00f6neminde, operasyonel ve finansal yap\u0131s\u0131nda \u00f6nemli bir b\u00fcy\u00fcme ve d\u00f6n\u00fc\u015f\u00fcm sergilemi\u015ftir. Stellantis Otomotiv Pazarlama A.\u015e. ile birle\u015fmenin tamamlanmas\u0131n\u0131n ard\u0131ndan \u015firketin has\u0131lat\u0131, ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re \u00fc\u00e7 kattan fazla artarak 95,1 milyar TL seviyesine ula\u015fm\u0131\u015ft\u0131r. 2025 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde kaydedilen 183,8 milyon TL\u2019lik net d\u00f6nem zarar\u0131ndan, 2026 y\u0131l\u0131n\u0131n ayn\u0131 d\u00f6neminde 2,99 milyar TL net d\u00f6nem k\u00e2r\u0131na ge\u00e7i\u015f yap\u0131lm\u0131\u015ft\u0131r. \u015eirketin toplam varl\u0131klar\u0131 200,8 milyar TL&#8217;ye y\u00fckselirken, \u00f6zkaynaklar\u0131 58,96 milyar TL olarak kaydedilmi\u015ftir. Bu d\u00f6nemde \u00f6zellikle ithal ara\u00e7 sat\u0131\u015flar\u0131ndaki devasa art\u0131\u015f ve Stellantis markalar\u0131n\u0131n (Peugeot, Citro\u00ebn, Opel, DS) da\u011f\u0131t\u0131m operasyonlar\u0131n\u0131n portf\u00f6ye dahil edilmesi, finansal sonu\u00e7lar\u0131 belirleyen temel unsurlar olmu\u015ftur.<\/p>\n<h2>1. Kurumsal Yap\u0131 ve Faaliyet Konusu<\/h2>\n<p>1968 y\u0131l\u0131nda kurulan Tofa\u015f, Ko\u00e7 Holding A.\u015e. ve Stellantis N.V. ortak kontrol\u00fc alt\u0131nda faaliyet g\u00f6stermektedir. \u015eirketin ana faaliyet alanlar\u0131 binek otoyol ve hafif ticari ara\u00e7 \u00fcretimi, ithalat\u0131 ve sat\u0131\u015f\u0131d\u0131r.<\/p>\n<ul>\n<li><b>\u00dcretim ve Operasyon Merkezi:<\/b> \u015eirketin Genel M\u00fcd\u00fcrl\u00fc\u011f\u00fc \u0130stanbul\u2019da, \u00fcretim fabrikas\u0131 ise Bursa\u2019da yer almaktad\u0131r.<\/li>\n<li><b>Stellantis Birle\u015fmesi:<\/b> Stellantis Grubu markalar\u0131n\u0131n (Peugeot, Citro\u00ebn, Opel ve DS Automobiles) T\u00fcrkiye da\u011f\u0131t\u0131m operasyonlar\u0131n\u0131 y\u00fcr\u00fcten Stellantis Otomotiv Pazarlama A.\u015e.\u2019nin devral\u0131nmas\u0131 s\u00fcreci 30 Nisan 2025&#8217;te tamamlanm\u0131\u015f ve yasal birle\u015fme 31 Ekim 2025 itibar\u0131yla tescil edilmi\u015ftir.<\/li>\n<li><b>\u0130nsan Kaynaklar\u0131:<\/b> 31 Mart 2026 itibar\u0131yla toplam personel say\u0131s\u0131 4.600\u2019d\u00fcr (2.919 saat \u00fccretli, 1.681 ayl\u0131k \u00fccretli).<\/li>\n<li><b>Ba\u011fl\u0131 Ortakl\u0131klar:<\/b> \u015eirketin konsolidasyon kapsam\u0131ndaki %100 i\u015ftirakleri; Ko\u00e7 Stellantis Finansman A.\u015e. (KSF), Fer Mas Oto Ticaret A.\u015e., Ko\u00e7 Stellantis Sigorta Arac\u0131l\u0131k Hizmetleri A.\u015e. ve BPF Pazarlama ve Acentecilik Hizmetleri A.\u015e.&#8217;dir.<\/li>\n<\/ul>\n<h2>2. Finansal Performans Analizi<\/h2>\n<p>\u015eirketin finansal tablolar\u0131, TMS 29 &#8220;Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama&#8221; standard\u0131 uygulanarak ve 31 Mart 2026 tarihindeki sat\u0131n alma g\u00fcc\u00fc cinsinden sunulmu\u015ftur.<\/p>\n<h3>2.1. Gelir Tablosu \u00d6zeti<\/h3>\n<p>(T\u00fcm tutarlar aksi belirtilmedik\u00e7e bin TL cinsindendir)<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>1 Ocak &#8211; 31 Mart 2026<\/td>\n<td>1 Ocak &#8211; 31 Mart 2025<\/td>\n<td>De\u011fi\u015fim (%)<\/td>\n<\/tr>\n<tr>\n<td><b>Has\u0131lat<\/b><\/td>\n<td>95.109.919<\/td>\n<td>31.674.620<\/td>\n<td>+200,2%<\/td>\n<\/tr>\n<tr>\n<td><b>Sat\u0131\u015flar\u0131n Maliyeti (-)<\/b><\/td>\n<td>(88.911.761)<\/td>\n<td>(30.328.409)<\/td>\n<td>+193,1%<\/td>\n<\/tr>\n<tr>\n<td><b>Ticari Faaliyetlerden Br\u00fct K\u00e2r<\/b><\/td>\n<td>6.198.158<\/td>\n<td>1.346.211<\/td>\n<td>+360,4%<\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct K\u00e2r (Toplam)<\/b><\/td>\n<td>7.132.027<\/td>\n<td>1.961.169<\/td>\n<td>+263,6%<\/td>\n<\/tr>\n<tr>\n<td><b>Esas Faaliyet K\u00e2r\u0131 \/ (Zarar\u0131)<\/b><\/td>\n<td>1.683.783<\/td>\n<td>(1.144.744)<\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<tr>\n<td><b>Vergi \u00d6ncesi K\u00e2r \/ (Zarar)<\/b><\/td>\n<td>3.307.633<\/td>\n<td>(246.612)<\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem K\u00e2r\u0131 \/ (Zarar\u0131)<\/b><\/td>\n<td>2.988.567<\/td>\n<td>(183.805)<\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>2.2. Operasyonel Giderler ve Di\u011fer Gelirler<\/h3>\n<ul>\n<li><b>Pazarlama Giderleri:<\/b> 4,4 milyar TL (Ge\u00e7en y\u0131l: 1,5 milyar TL). Bu art\u0131\u015ftaki en b\u00fcy\u00fck pay 2,02 milyar TL ile garanti giderlerine aittir.<\/li>\n<li><b>Ara\u015ft\u0131rma ve Geli\u015ftirme:<\/b> 354,9 milyon TL harcama yap\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Finansman Gelirleri ve Giderleri:<\/b> Net finansman geliri 1,09 milyar TL olarak ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<li><b>Net Parasal Pozisyon Kazanc\u0131:<\/b> Enflasyon d\u00fczeltmesi sonucu 460,9 milyon TL kazan\u00e7 kaydedilmi\u015ftir (Ge\u00e7en y\u0131l 1,74 milyar TL kay\u0131p).<\/li>\n<\/ul>\n<h2>3. Finansal Durum (Bilan\u00e7o) De\u011ferlendirmesi<\/h2>\n<p>31 Mart 2026 itibar\u0131yla Tofa\u015f&#8217;\u0131n bilan\u00e7o b\u00fcy\u00fckl\u00fc\u011f\u00fc 200,8 milyar TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r.<\/p>\n<h3>3.1. Varl\u0131k Yap\u0131s\u0131<\/h3>\n<ul>\n<li><b>D\u00f6nen Varl\u0131klar:<\/b> 142,7 milyar TL.\n<ul>\n<li><b>Nakit ve Nakit Benzerleri:<\/b> 20,99 milyar TL.<\/li>\n<li><b>Ticari Alacaklar:<\/b> 51,5 milyar TL.<\/li>\n<li><b>Stoklar:<\/b> 33,2 milyar TL. (31 Aral\u0131k 2025&#8217;teki 18,5 milyar TL&#8217;den belirgin bir art\u0131\u015f g\u00f6r\u00fclmektedir; bu art\u0131\u015fta &#8220;yoldaki mallar&#8221; kaleminin 13,4 milyar TL&#8217;ye y\u00fckselmesi etkilidir).<\/li>\n<\/ul>\n<\/li>\n<li><b>Duran Varl\u0131klar:<\/b> 58,1 milyar TL.\n<ul>\n<li><b>Maddi Duran Varl\u0131klar:<\/b> 24,6 milyar TL.<\/li>\n<li><b>\u015eerefiye:<\/b> 8,1 milyar TL.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>3.2. Y\u00fck\u00fcml\u00fcl\u00fckler ve \u00d6zkaynaklar<\/h3>\n<ul>\n<li><b>K\u0131sa Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler:<\/b> 90,9 milyar TL.<\/li>\n<li><b>Uzun Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler:<\/b> 50,9 milyar TL.<\/li>\n<li><b>Bor\u00e7lanmalar:<\/b> Toplam finansal bor\u00e7lanmalar 69,37 milyar TL&#8217;dir. Bu bor\u00e7lar\u0131n 39,24 milyar TL&#8217;lik k\u0131sm\u0131 ba\u011fl\u0131 ortakl\u0131k KSF&#8217;nin t\u00fcketici kredilerini finanse etmek amac\u0131yla kulland\u0131\u011f\u0131 kredilerden olu\u015fmaktad\u0131r.<\/li>\n<li><b>\u00d6zkaynaklar:<\/b> 58,96 milyar TL. \u015eirket, 16 Mart 2026 tarihli Genel Kurul karar\u0131yla 10 milyar TL tutar\u0131nda nakit temett\u00fc da\u011f\u0131tm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h2>4. \u00dcretim ve Sat\u0131\u015f Rakamlar\u0131<\/h2>\n<p>Stellantis markalar\u0131n\u0131n entegrasyonu, sat\u0131\u015f miktarlar\u0131nda k\u00f6kl\u00fc bir de\u011fi\u015fim yaratm\u0131\u015ft\u0131r.<\/p>\n<h3>4.1. \u00dcretim ve Yerli Sat\u0131\u015f (Adet)<\/h3>\n<ul>\n<li><b>Toplam \u00dcretim:<\/b> 36.680 adet (Ge\u00e7en y\u0131l: 26.655). En y\u00fcksek \u00fcretim 23.759 adet ile K0 Scudo modelinde ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<li><b>Toplam Yerli Sat\u0131\u015f (\u00dcretimden):<\/b> 32.206 adet.<\/li>\n<\/ul>\n<h3>4.2. \u0130thalat ve Sat\u0131\u015f (Adet)<\/h3>\n<p>\u0130thal ara\u00e7 sat\u0131\u015flar\u0131nda, yeni markalar\u0131n eklenmesiyle ola\u011fan\u00fcst\u00fc bir art\u0131\u015f ya\u015fanm\u0131\u015ft\u0131r:<\/p>\n<ul>\n<li><b>Toplam \u0130thalat Sat\u0131\u015flar\u0131:<\/b> 61.049 adet (Ge\u00e7en y\u0131l: 7.005).<\/li>\n<li><b>\u00d6ne \u00c7\u0131kan Markalar:<\/b>\n<ul>\n<li>Peugeot: 18.193 adet<\/li>\n<li>Citro\u00ebn: 14.729 adet<\/li>\n<li>Opel: 14.414 adet<\/li>\n<li>Fiat (\u0130thal): 11.331 adet<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>5. Risk Y\u00f6netimi ve \u00d6nemli Notlar<\/h2>\n<ul>\n<li><b>Garanti Kar\u015f\u0131l\u0131klar\u0131:<\/b> \u015eirket, ara\u00e7 modelleri ve ge\u00e7mi\u015f verilere dayanarak 4,39 milyar TL garanti gider kar\u015f\u0131l\u0131\u011f\u0131 ay\u0131rm\u0131\u015ft\u0131r.<\/li>\n<li><b>Vergi Avantajlar\u0131:<\/b> Yat\u0131r\u0131m te\u015fvik belgeleri kapsam\u0131nda, gelecekte faydalan\u0131lacak 8,14 milyar TL tutar\u0131nda vergi avantaj\u0131 &#8220;ertelenmi\u015f vergi varl\u0131\u011f\u0131&#8221; olarak finansal tablolara yans\u0131t\u0131lm\u0131\u015ft\u0131r. Bu varl\u0131\u011f\u0131n 5 y\u0131l i\u00e7inde geri kazan\u0131lmas\u0131 \u00f6ng\u00f6r\u00fclmektedir.<\/li>\n<li><b>Kredi Riskleri:<\/b> T\u00fcketici finansman\u0131 segmentinde (KSF), 43,1 milyar TL net kredi alaca\u011f\u0131 bulunmaktad\u0131r. Beklenen kredi zarar kar\u015f\u0131l\u0131\u011f\u0131 777,9 milyon TL&#8217;dir. Kredilerin b\u00fcy\u00fck \u00e7o\u011funlu\u011fu ara\u00e7 rehni ile teminatland\u0131r\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Dava S\u00fcre\u00e7leri:<\/b> \u015eirket aleyhine devam eden davalar i\u00e7in 205,2 milyon TL kar\u015f\u0131l\u0131k ayr\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>\u0130li\u015fkili Taraf \u0130\u015flemleri:<\/b> Ticari faaliyetlerin \u00f6nemli bir k\u0131sm\u0131 Ko\u00e7 Toplulu\u011fu ve Stellantis Grubu \u015firketleri ile ger\u00e7ekle\u015ftirilmektedir. Banka mevduatlar\u0131n\u0131n 1,39 milyar TL&#8217;lik k\u0131sm\u0131 ili\u015fkili bir bankada bulunmaktad\u0131r.<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"2480\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Tofa\u015f T\u00fcrk Otomobil Fabrikas\u0131 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011fine ait konsolide finansal sonu\u00e7lar\u0131n\u0131 kamuoyuyla payla\u015ft\u0131 Stellantis markalar\u0131n\u0131n (Peugeot, Citro\u00ebn, Opel, DS) operasyonel olarak b\u00fcnyeye kat\u0131lmas\u0131yla birlikte \u015firketin sat\u0131\u015f hacmi ve has\u0131lat\u0131nda devasa bir b\u00fcy\u00fcme ya\u015fand\u0131 Ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6neminde kaydedilen zarar\u0131n ard\u0131ndan 2026 y\u0131l\u0131na yakla\u015f\u0131k 3 milyar TL net karla ba\u015flayan Tofa\u015f otomotiv pazar\u0131ndaki yeni stratejik konumuyla vites y\u00fckseltti Bu yaz\u0131m\u0131zda Tofa\u015f&#8217;\u0131n rekor has\u0131lat art\u0131\u015f\u0131n\u0131, yeni marka da\u011f\u0131l\u0131mlar\u0131n\u0131 ve bilan\u00e7o detaylar\u0131n\u0131 derinlemesine inceliyoruz<\/p>\n","protected":false},"author":6,"featured_media":1725,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[250],"class_list":["post-2480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-toaso"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=2480"}],"version-history":[{"count":4,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2480\/revisions"}],"predecessor-version":[{"id":2490,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2480\/revisions\/2490"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/1725"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=2480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=2480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=2480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}