Of the Aforementioned Are Combined to Make Do¤Ufl Otomotiv VW

The VW Commercial Vehicles brand strategy is based VW Commercial Vehicles will continue to set market standards upon one-to-one communication with customers. In addition with the features that its models offer and will also continue to constantly adjust its product-price positioning in accordance to use of mass media and its media relations activities, direct with analysis results reached by constant control and monitoring marketing is one of its most important marketing strategies. of market data. With its direct marketing strategies, VW Commercial Vehicles Moreover, VW Commercial Vehicles became the first brand was in direct communication with over 30,000 customers Possessing a very strong position in the B segment with its to introduce different standard types of vehicles for specific outside of showrooms in 2004. Focus upon customer visits, New Generation Transporter models, VW Commercial Vehicles sectors. The unique solutions that VW Commercial Vehicles fair participation and roadshow activities played key roles aims to achieve another first amongst competitors in 2005 by has developed for the tourism, food and transportation in allowing us to reach this figure. bringing the New Generation Transporter’s 4-wheel drive sectors - all of which are key sectors in Turkey - have been models to Turkey. In addition, VW Commercial Vehicles also met with keen interest on the part of the relevant sectors. VW Commercial Vehicles achieved its goals as a result of aims to offer onto the market vehicle options of various ceiling intensive media relations and was the brand to receive the heights for its New Generation Transporter models. Despite Awareness of the VW Commercial Vehicle brands and customer second most media coverage in 2004. the atmosphere of intense competition, New Generation fidelity to them are particularly high in Turkey. Customer Transporters are expected to garner a market share of 20% satisfaction has become VW Commercial Vehicle’s first priority VW Commercial Vehicles’ vision for 2005 is to be among in the B segment in 2005 due to the high quality of both the through services performed by separate sales teams in the the top three brands in the Turkish Light Commercial Vehicles new brand models that will be introduced as well as those Authorized Dealers network. currently available on the market. market. Among VW Commercial Vehicles’ other goals are All of the aforementioned are combined to make Do¤uﬂ Otomotiv VW Commercial Vehicles the leading distributor in the to achieve more firsts with the models that it has introduced Because they have achieved the expected status amongst VW Commercial Vehicle export market in the year 2004. Having achieved the highest number of unit sales in markets outside onto the Light Commercial Vehicles market; to set the customers following their launching in May of 2004 and have of Germany in 2004, the Turkish market has now become VW Commercial Vehicles’ most important center of operation. standards of its market in terms of customer satisfaction and been warmly received on the market, because they are unique product reliability and to be among leading brands once The development of VW Commercial Vehicles’ market share from 1998 to the present is shown below. in being multi-purpose commercial vehicles, and because of again with its particular brand image. the many advantages that they offer the customer, the goal for the Caddy models is a 13% market share of their segment. VW LCV SHARES* VW Commercial Vehicles’ mission is to become the brand 35,0% that achieves maximum customer satisfaction in the Light A model that offers various solution options to a variety of sectors, the LT Volt is expected to garner a 5.5% share of the 30,0% Commercial Vehicles market as the first company to produce holistic automotive solutions with its products that cover the market in 2005 by maintaining its high quality image and 25,0% entire chain of value for its customers, while simultaneously focusing upon target customers and sectors. 20,0% maintaining its image of offering solutions that achieve a 13,6% With the combined performances of its products in all three 15,0% balance of high quality, performance, product reliability and 10,4% 11,0% segments, the goal for VW Commercial Vehicles is to capture 9,6% 8,1% technology and which takes its environmental responsibilities 10,0% a total of 11.5% of the market share in 2005. %5,7 5,7% 5,3% seriously. 5,0%

0,0% 1998 1999 2000 2001 2002 2003 2004

Source: ADA

Volkswagen Commercial Vehicles are represented in the The first to offer double cab pick up to the light commercial Turkish market by the models Caddy, Transporter and Volt, vehicle market, VW Commercial Vehicles will achieve yet which combined exist in all three segments. another first in the segment when it presents Transporter 4- Motion vehicles to the market in 2005. In addition, Volkswagen Commercial Vehicles has become competitive VW Commercial Vehicles is the sole brand in its segment to in all three segments, especially with the A segment model offer the automatic gearbox option in all of its Transporter that it introduced onto the market in May of 2004. models. With the standard safety and comfort packages that VW Commercial Vehicles aims to develop strategies targeted it offers customers, the Transporter continues to increase its at the entire Light Commercial Vehicles market with its range Caddy: The Caddy succeeded in taking a significant market share each day. of products, made complete by the Caddy, Transporter and market share with its launch into the A segment. Having Volt models. achieved firsts for a commercial vehicle with their standard The New Generation Transporter models’ cumulative market safety and comfort equipments and possessing unique VW Commercial Vehicles has many advantages over its share for 2004 was 22%. equipments that make them practical for commercial as well competitors in its market due to the models and various product as private purposes, the Caddy models’ monthly wholesale options that it offers in all light commercial vehicle sectors, the market shares in 2004 was 13-14%. LT Volt: The LT Volt vehicles are VW Commercial Vehicles’ firsts that its models have made available in those sectors, the C-D segment models. The LT Volt models offer unique VW Commercial Vehicles brand image and its quality, product solutions to various customer demands and sectors such reliability, customer satisfaction and sales and after-sales New Generation Transporter: VW Commercial Vehicles services. Bolstering its advantages with strong marketing and as food and tourism. The LT Volt has also set standards as offers the New Generation Transporter as a B segment advertising strategies, VW Commercial Vehicles aims to provide vehicle with panel van, city van, window van and pickup the first brand in its segment to offer standard safety and for, maintain and increase customer and authorized dealer (single and double cab) model options possessing various comfort packages. The LT Volt models’ cumulative market satisfaction. VW Commercial Vehicles will continue in 2005 to roof heights, engine options and wheelbase lengths. share for 2004 was 5.3%. supply the market with products that meet customer needs.

Do¤ufl Otomotiv Annual Report>21 The Do¤ufl Group initially began importing the Audi brand in 1994 and the Porsche brand in 1996 via its company Do¤ufl Otomotiv. In January of 1998, the Do¤ufl Group went on to establish Do¤uflmotor Servis ve Ticaret A.fi. (Do¤uflmotor Services and Trade, Inc.), which then became the General Distributor in Turkey for the Audi and Porsche brands.

Sales, marketing and after-sales operations for the Audi and Porsche brands were performed by Do¤uflmotor until 19 March 2004, when the VW Passenger Vehicles, VW Commercial Vehicles, Scania, Audi and Porsche brands merged together with Genpar, Inc. (spare parts and logistics company) as Do¤ufl Otomotiv Servis ve Ticaret, A.fi. (Do¤ufl Automotive Services and Trade, Inc.).

Both the Audi brand, which stands out with its superior technology and innovative and sporty design and the Porsche brand, which has become an international symbol of prestige and performance, have maintained a very successful sales performance over the years, from their initial introduction onto the market up to the present.

Do¤uﬂ Otomotiv Annual Report>23 5000 4.297

4000

3000 2.551 2.011 2000 1.476 1.097 1.061 1.045 1000 741

500 455 73 222

0 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 Do¤ufl Otomotiv Do¤uflmotor Do¤ufl Otomotiv

Source: Do¤uﬂ Otomotiv Audi sales figures

Audi provides services throughout Turkey via its 15 Authorized Dealers and 12 Authorized Service Centers. The 1,045 unit sales for the year 1998, when Audi was represented as a single company, rose to 2,011 in the year 2000; however, Both sales-related as well as after-sales services are of preeminent importance to the company when it the economic crisis that occurred soon thereafter set sales back to 741 units for 2001. Our brand did its best to bolster its comes to achieving absolute customer satisfaction with the Audi and Porsche brands. The infrastructure for this goal was laid in early 2000 with the establishment of a strong authorized dealer network as well performance once again, reaching sales of 1,097 units in the year 2002; sales of 2,551 units in 2003 were followed by a record as Audi Info, Audi Assistance, Porsche Emergency and traveling service units. high of 4,297 units sold in 2004. 113 units were sold in January of 2005, for which the annual sales goal is 3,609. Total sales of 13,218 units was achieved in the years 1998-2004. The company places a special focus upon internet activities and is the first automotive firm in Turkey to foster communication with authorized dealers via a special web channel, “Audi Extranet.” In addition to the Extranet project, another pioneering project implemented by the firm - the virtual “Audi media January February March April May June July August September October November December Total center”-was configured and went online in the year 2000. 1997 30 71 75 55 70 85 45 141 71 104 111 203 1061 Audi-Turkey was the first automotive firm to establish a comprehensive “car configurator” and make 1998 22 61 102 85 44 102 119 42 81 85 119 183 1045 it accessible for use by all authorized dealers. With its focus upon one-to-one communication with 1999 22 48 100 115 105 137 53 125 160 162 166 283 1476 customers, the company carries out a variety of direct marketing activities and also publishes four 2000 52 150 202 153 202 170 170 219 80 130 310 173 2011 times a year its Audi Magazine, which it then sends out to all Audi users. 2001 49 22 49 66 45 115 34 21 40 45 100 155 741 The Audi Boutique, which was made available to internet users as of July of 2004, includes an authorized 2002 2 8 157 113 117 56 63 100 101 75 169 136 1097 dealer section via which authorized dealers can communicate all of their requests to the distributor, 2003 25 46 62 289 93 205 125 227 295 279 307 598 2551 marking yet another vanguard achievement in the sector. 2004 192 185 441 601 338 368 217 410 277 348 325 595 4297

The Audi brand’s yearly based sales trend has exhibited a consistent increase, with its market share in the luxury segment rising from 16.71% (2002) to 24% (2003). With its market share continuing to 700 598 increase rapidly over the years, the Audi brand finished the year 2004 with a market share of 29.9%. 601 Last year Audi achieved its highest sales yet with wholesale figures showing 4,297 units sold, while 600 Porsche garnered 129 units, its highest annual sales figure thus far. 595 500

441 410 400 338 368 348 00/ Jan.-Dec. 01/ Jan.-Dec. 02/ Jan.-Dec. 03/ Jan.-Dec. 04/ Jan.-Dec. 295 325 279 Brand % % % % % 300 289 AUDI 2011 13,32 741 19,42 1097 16,71 2511 24,00 4297 24,00 192 205 277 185 217 227 BMW 4566 30,24 1276 33,45 2641 40,23 3605 33,00 4677 33,00 200 MB 3293 21,81 1119 29,33 1914 29,15 3109 28,46 3217 28,46 93 125 JAGUAR 108 0,72 125 3,28 150 2,28 150 1,37 131 1,37 100 33 46 62 VOLVO 5033 33,34 490 12,84 696 10,60 1389 12,71 2053 12,71 SAAB 87 0,58 64 1,68 67 1,02 50 0,46 44 0,46 0 January February March April May June July August September October November December Total 15098 100 3815 100 6565 100 10854 100 14419 100 -100

Source: ADA Market data / Do¤uﬂ Otomotiv Audi / Monthly Report 2000 2001 2002 2003 2004

Do¤uﬂ Otomotiv Annual Report>25 The C segment, which usually has the highest sales within the luxury segment, lagged behind the B segment in 2004. The offering of new models onto the market in the other segments and the obsolescence of products in the C segment lead to a drop in that segment’s sales. The A segment came in third place in terms of unit sales, capturing a market share of 16%. These three main segments comprised 87% of general sales. 8% of the remaining 13% share belonged to the Off-road segment.

Meanwhile, the Audi A3 has maintained its number one position in the A segment since its introduction onto the market. With the addition of the A3 Sportback, A3 model sales in 2004 reached 1,369 units and captured 51% of the market, making Audi the leader in its segment once again. Audi’s young and attractive array of products that continue to develop more each day give it an edge over its competitors.

In keeping with the importance that the brand attaches to BMW 1 SERIES MB A CLASS VOLVO S 60 JAGUAR 34% 6% 12% S TYPE individuality, the brand possesses a wide array of products MB E CLASS 1% 38% AUDI A6 that aim to meet the different tastes and needs of every 27% individual. Audi possesses a wide range of products with its prominent, sporty models such as main models A3, A3 Sportback, A4, A6 and A8, as well as niche models such as the TT, Allroad, A4 Cabriolet and the S series.

As for market shares, the 0.33% market share achieved in AUDI A3 A3 SPORTBACK 51% 1998 has risen to 0.96% as of the end of 2004. 9% BMW 5 SERIES 22%

Source: Source: ADA Market data / Do¤uﬂ Otomotiv Audi / Monthly Report AUDI 1998 / 12 0,33 1999 / 12 0,5 The A4, which accounts for over 50% of total Audi units sold, garnered 30% of the market share of 2004 sales in its segment. 2000 / 12 0,43 TOTAL PASSENGER The C segment has always been the highest selling segment within the luxury class. The Audi A6 had sales of 1,182 units. VEHICLE MARKET 2001 / 12 0,59 With its high sales last year, Audi was able to surpass for the very first time its closest segment competitor. 2002 / 12 1,14 2003 / 12 1,09 2004 / 12 0,961 The most important product to hit the market in the year 2005 is the new A4, which comprises 50% of the model range.

Source: ADA Market data / Do¤uﬂ Otomotiv Audi / Monthly Report The entire range of Audi models, decked out in an entirely new look, will be offered up to Turkish consumers of discriminating taste in 2005. The 140 hp, 2.0 lt. TDI multitronic and 170 hp, 2.0 lt. turbo FSI multitronic that will be introduced into the market with the New A6(C6) - a model that is of upmost importance for the Audi brand and that will serve to reinforce the brand’s image in the luxury 2004 marks the year in which the new A6 and A3 were launched. Although it is a new brand in the Turkish market, Audi segment - will contribute to the bolstering of sales. The 200 hp, 2.0 lt. turbo FSI quattro and the 2.0 TDI multitronic options to quickly caught up with its competitors in terms of market shares and units sold. become part of the A3 and A3 Sportback product range in 2005 will serve to complete the niche product range.

A look at the luxury market in the year 2004 reveals that Audi achieved the highest sales in recent years with total sales of 14,419 The Audi AG International Training Department recommends its Certification Program in order to achieve a standardized units. The segment with the highest sales meanwhile was the B segment with 5,706 units sold and a market share of 40%. level of knowledge amongst Audi Consultants in all countries. This program will begin to be implemented in Turkey, too, as of Following the B segment was the C segment with 4,317 units sold. 2005. All Audi Sales Consultants who have completed their Basic Audi Training will take this certification test and receive their International Audi Consultant Certificate. The certification program will be carried out twice a year.

SPORT SEGMENT SAAB D SEGMENT 1% OFF ROAD VOLVO 4% JAGUAR 14,2% 0,3% SEGMENT 0,9% AUDI C SEGMENT 8% 29,9% 31% A SEGMENT 16% MB 22,3%

BMW B SEGMENT 32,4% 40%

Source: ADA Market data / Do¤uﬂ Otomotiv Audi / Monthly Report

Do¤ufl Otomotiv Annual Report>27 The Do¤ufl Group initially began importing the Porsche brand in 1996 via its company Do¤ufl Otomotiv. In January of 1998, the Do¤ufl Group went on to establish Do¤uflmotor Servis ve Ticaret A.fi. which then became the General Distributor in Turkey for the Audi and Porsche brands. As a result of a merger that took place in March of 2004, Porsche operations at that time became part of Do¤ufl Otomotiv Servis ve Ticaret A.fi. together with VW Passenger Vehicles, VW Commercial Vehicles, Audi, Scania, and Krone brands.

Do¤ufl Otomotiv Annual Report>29 A total of 43 units were sold in 1998, the year that Do¤uflmotor Porsche Sales on an Annual Basis was founded and that figure increased to 56 in the year 140 2000; however, the economic crisis that soon followed 129 thereafter resulted in a fall-off of sales, with 27 units sold in 41.8% 2001 and 17 in 2002. The Porsche brand did its best to 120 bolster its performance once again and managed to sell 91 units in 2003, due in part to Porsche’s entrance into the 100 91 SUV segment, while the brand realized its highest sales yet Porsche has been carrying out its operations by in 2004, closing the year with 129 units sold. 80 3 main departments - Sales, Marketing and After-Sales 56 Services - since 1998, having experienced various changes A look at figures for the luxury market reveals that in 2004 60 it achieved its highest sales of recent years with a total of in the intervening time. Porsche’s retail operations are carried 43 21,409 units sold. The B segment had the highest sales out in Istanbul by Do¤ufl Oto-Etiler and in Izmir by Gönen 40 33 32 figures, with 8,564 units sold, garnering it a 40% share of Motorlu Araçlar Tic. Ltd. fiti. the total luxury segment. The C segment, which has 27 20 17 traditionally always weighed in with the most sales in the Present only in the sport cars segment until the year 2003, 8 luxury segment, took a 31% share of the luxury market with Porsche has consistently increased its range of products, not 0 6,636 units sold. New models introduced onto the market in 1996 1997 1998 1999 2000 2001 2002 2003 2004 only in the sports car segment, but in the SUV segment as well. the other segments led to a decrease in C segment product sales. The A segment was the third highest selling segment with a 16% share of the luxury segment as a whole. Porsche Sales on a Model Basis

These three main segments comprised 87% of general sales. 120 8% of the remaining 13% of sales took place in the Off-road 109 segment. 100 Total Porsche sales for the year 2004 showed a 29.4% 80 increase over sales for the previous year. The most important 73 factor behind this increase was the Cayenne model’s impressive sales performance. A comparison of total sales 60 of the Cayenne model in 2003 with its sales in 2004 reveal 46 that sales for 2004 increased by 38.8% over the 73 units 40 33 25 sold in the previous year to arrive at total sales of 109 units. 21 20 19 The SUV segment and the preference for diesel engines 14 15 16 17 10 10 6 7 within this segment were also part of the general rising trend. 2 6 2 2 3 In sales other than diesel sales, Porsche was the sole brand 0 to increase its sales over the same period for the year 2003. 1996 1997 1998 1999 2000 2001 2002 2003 2004 911 CARRERA BOXSTER CAYENNE Source: DOAfi (Do¤ufl Automotive, Inc.) Luxury Segment Units Sold Total Market Total Market Share Luxury Segment Porsche reaches its customers in Turkey via two authorized Market Share dealers and service centers. In December of 2003, the Porsche Center was opened in Etiler, Istanbul. This center, 1998 43 313.575 0,01% 5.882 0,73% which was opened for the purpose of providing customers 1999 32 288.513 0,01% 4.159 0,77% service par excellence, has taken its place among the 2000 56 463.589 0,01% 11.117 0,50% 566 Porsche Showrooms located throughout the world. ‹STANBUL 2001 27 122.300 0,02% 2.645 1,02% The second link in the Porsche Authorized Dealer Network, 2002 17 96.283 0,02% 4.437 0,38% Gönen Motorlu Araçlar Tic. Ltd. fiti. offers sales and 2003 91 240.941 0,04% 15.257 0,60% after - sales services in Izmir. In addition, a Porsche Center BURSA 2004 129 452.292 0,03% 21.409 0,60% is also planned to be opened in Antalya sometime during the year 2005. In order to make the after-sales services that ANKARA Porsche’s Total Market, Luxury Segment Market Shares, and Sales Figures for the years 1998-2004 we offer to our customers yet more accessible, Porsche authorized service centers will be opened in the provinces of Istanbul, Bursa and Ankara as well during the year 2005. ‹ZM‹R 1998 1999 2000 2001 2002 2003 2004 Total

CARRERA 33 24 38 12 10 13 12 142

BOXSTER 10 7 10 6 2 2 3 40 ANTALYA TURBO 8 9 5 3 5 30 CAYENNE 73 109 182

TOTAL 43 31 56 27 17 91 129 PORSCHE CENTER PORSCHE AUTHORIZED SERVICE CENTER

Sales Figures For Individual Porsche Models For the Years 1998-2004 Source: ADA and DOAﬁ (Do¤uﬂ Otomotiv, Inc.)

Do¤uﬂ Otomotiv Annual Report>31 Katalonya Oto Servis ve Ticaret A.ﬁ.

Katalonya Oto was established in 1997 as the distributor of SEAT in Turkey, under the partnership of Do¤uﬂ Group and Yüce Auto.

Katalonya Oto aims to develop the SEAT brand by providing services in accordance with its modern, high - quality and holistic sense of service via its widespread dealer network offering sales and second hand auto services and auto servicing. SEAT, which has been enthusiastically received in the Turkish market with its modern design and wide range of models, is manufactured in the Martorell Factory in Spain with VW technology.

In addition to its successful event organization efforts during its first year, Katalonya Oto also promptly earned its ISO 9002 Quality Certificate for the quality of its sales, dealer coordination and after-sales support.

Katalonya Oto strives to achieve a maximum level of customer satisfaction in the pre-sale, sales and after-sales operations and as of the end of 2004, the company continues to represent SEAT in Turkey in the best way possible with its 34 authorized dealers and 42 sales points. In 2004, Katalonya Oto achieved a 1.23% share of the passenger vehicle market with its wholesale sales of 5,546 units.

Do¤uﬂ Otomotiv Annual Report>33 The New Toledo became an automobile that redefined the classic sedan concept with its versatility, functionality and roominess, the latter being unprecedented in this class. Its spacious trunk - a legacy inherited from its previous body introduced onto the market in 1998-together with its dimensions, features, and adjustability made it a candidate for the perfect family automobile with its sporty character. THE YEAR 2004 The New Toledo aims to meet the increasing demand for vehicles that offer greater capacity and functionality. The recuperation of Turkey’s passenger automobile market that began in 2003 gained speed in 2004, with retail automobile sales increasing 2004 was also a busy year for SEAT in terms of awards. The by 88% from 240,941 units to 452,292 units. At the same time, the year 2004 was also a year of tough competition in the sector. SEAT Altea model capped off the year having received five awards. responded to this atmosphere of intense competition with the introduction of new models into the market with new designs. Winning its first award from European designers for being Total wholesales units in SEAT brand are increased by 10% compared to previous year. the best concept automobile, SEAT went on to receive its second award from the Nordrhein Westfalen (Germany) For SEAT, 2004 marked the initiation of efforts to reposition the Design Center in the category, “The Best of the Best.” Its brand. SEAT is a competitive brand with its advanced technology, third award came from the British magazine “What Car?” sporty character and striking design in Turkish passenger and The Caravan Club, which selected it “Best Towcar” in automobile market. This competitive position is emphasized in the 22nd year of that competition. With the “Autonis” award its slogan, “Competition is in our genes,” while “SEAT auto- followed then by the “Auto Trophy 2004” award, Altea proved emotion” serves as the brand’s claim, explaining its image via beyond a doubt its international success in its field. Meanwhile, products and activities. the British magazine “What Car?” also awarded the sporty and dynamic Ibiza for being “Best Small Hatchback”.

The biggest event of the year, however, was the SEAT Cup Turkey races. Planned as a fitting reflection of the brand’s new sportive design and eagerly awaited by both motorsports fans as well as those in search of a new movement to ignite the passion within them, “SEAT Cup Turkey”- which, beyond being a competitive event, is certain to create a new lifestyle circle - kicked off with the Madrid race in April. The first product of Do¤ufl Motorsporlar› (Do¤ufl Motorsports), which is part of the Do¤ufl Group and provides services in such main activity areas as sports, publication and broadcasting, promotion, events, sponsorship and tuning, “SEAT Cup Turkey” contributed to the SEAT brand and increased customer potential with the 250 hp Leon Cupra R’s especially manufactured for the race by Spain SEAT Sport as well as the exposure offered by the races as they continued throughout the year. Efforts towards repositioning the brand which began in 2004 will continue full-steam ahead in 2005 as well. Moreover, the third model to be manufactured within the Audi Brand Group, the new Leon, will be introduced onto the market in Turkey in September after making its world premiere at the Barcelona Motorshow in May. Thus will SEAT’s entire middle class vehicle product line be renewed, and the new Leon, a sportive and powerful middle class Development of SEAT Passenger Automobile Market Shares hatchback, is a model that is certain to make positive and Wholesale Units Sold contributions to brand sales. 9,000 5 The motorsports activities that reflect the lifestyle embodied by the SEAT models will meanwhile continue, picking up 4

pace with the second year of the SEAT Cup Turkey races. 6,000 3

2,0 2,0 1,7 1,6 2 3,000 1,3 Ushering in a new era, SEAT’s Altea model possesses all of the brand’s new appearance features and after the company became a part 0,9 0,3 1 of the Audi Brand Group in 2002, it was introduced into the market in June, 2004, as the first vehicle to be developed entirely by Audi. 7,895 939 2,655 2,504 1,509 Altea, which combines the dynamism of compact automobiles with the functionality of roomy MPV(MSV) automobiles, also proved itself 0 5,022 5,546 0 by garnering the highest score in its class in the Euro NCAP crash tests. SEAT went on to present its second surprise of the year when it 1998 1999 2000 2001 2002 2003 2004 introduced the new Toledo at the Istanbul Autoshow in November. Source: ADA 2005 anticipated budget units

Do¤uﬂ Otomotiv Annual Report>35