Public Banks Excluded 6 Car Brands from the Credit Campaign

In a joint statement made by Ziraat Bank, Halkbank and Vakıfbank, it was stated that "Honda, Hyundai, Fiat, Ford, Renault and Toyota firms have seen price increases despite the stated explanations" and it was announced that these firms were excluded from the scope of the credit package.

The common statement made by 3 banks is as follows: “From October 1, 2019, Ziraat Bank aims to support the Automotive Sector, which is one of the locomotives of Turkey's exports, and the subsidiary industry, which operates in line with the sector, in order to meet the financing needs of individual and corporate customers for vehicle purchase. Starting from the year, local vehicle-specific vehicle loan product has been offered to our customers.

In this context automotive brands have achieved with the cooperation of production in Turkey, contracted firms from zero km. Vehicle loan opportunities with an interest rate of 0,49% - 0,64% per month are offered to our individual / corporate customers who will purchase passenger cars or commercial vehicles on the basis of agreements with companies. With the collaborations, both the customers who want to own a vehicle have been provided with financing under favorable conditions and an important mobility has been brought to the automotive industry. The financing provided has also received great praise from the automotive industry.

On the other hand, in order not to turn credit campaigns into an opportunity for price increases by companies and to prevent our citizens from suffering with possible price increases; It was announced to the public with our press release dated 02.06.2020 that the company will operate with companies operating in accordance with the scope and purpose of the loan packages announced, and if the company reflects the appropriate financing opportunities offered to customers as a price increase in its products or services, the relevant companies will be excluded from the scope of the credit package.

At the point reached today, it has been observed that Honda, Hyundai, Fiat, Ford, Renault and Toyota firms have made price increases despite the stated statements.

Honda, Hyundai, Fiat, Ford, Renault and Toyota companies, which act contrary to the purpose of the vehicle loan package, which aims to provide access to low cost financing to our individual and corporate customers in addition to the purpose of promoting domestic production, were excluded from the scope of the loan package.

Respectfully announced to the public. ”