A Brief History

Intercity was founded in 1992, the first company in Turkey to provide what today we would call operational fleet leasing. It was not just the founder of the sector but also has remained its irreplaceable leader and has been responsible for numerous innovations to date. In 1996, Intercity was the first company within the fleet leasing sector to implement the use of winter tyres. In 2004, it was the first company in the sector to apply International Accountancy Standards (UMF-IFRS) in its reporting and in its preparation of budgets and balances.

Intercity was established in 2005 through a partnership with an international consortium that consisted of the International Finance Corporation (IFC, a body linked to the World Bank), the Dutch Development Bank (FMO), and the German Development Bank (DEG), part of the KFW Banking Group. In 2007, it carried out the issue of credit-linked notes to the sum of 110 million Euros.

In 2008, Intercity launched a new partnership with the Mitsubishi Group, which represented the largest direct Japanese investment in Turkey to date. In 2012, Intercity won the tender to run the Istanbul Park Formula 1 circuit for a period of 10 years. The circuit was managed under the name “Intercity Istanbul Park” and represented a great gift to the world of motorsports and to Turkey. Immediately after this, the Intercity Academy was founded, and Intercity Istanbul Park started to be used for a wide range of educational activities. 2015 saw the issuing of 91,000,0000 TL worth of credit notes, which were mostly acquired by foreign corporate investors.

In 2018, Intercity bought out the shares of its foreign partners, thereby becoming the biggest fleet leasing company in Turkey based entirely on domestic capital. In the same year, it carried out a share capital increase, the aim of which was to fortify its already strong financial structure, to accelerate growth and to ensure that its sustainable profitability continued. In 2020, the first steps were taken towards transforming the company into a conglomerate: group companies were founded and officially began their operations. These companies were Intercity Istanbul Park (aka İstanbul Park Eğitim ve Öğretim Kurumları A.Ş / Istanbul Park Education and Teaching Institutions Inc.), Intercity Destek (Haziran Araç Servis Ekspertiz Hizmetleri San. Ve Tic. A.Ş / June Vehicle Service and Expertise Services Manufacturing and Trading Inc.) and Intercity 2.El (İstanbul Park Oto Pazarlama San. Ve Tic. A.Ş / Istanbul Park Car Marketing Manufacturing and Trading Inc.).

It was Intercity Istanbul Park that brought Formula 1 races back to Turkey after a gap of nine years. The “Formula 1 DHL Turkish Grand Prix 2020” took place on the 13th, 14th and 15th November at Intercity Istanbul Park. Today, more than 500 employees of the various group companies are providing a first-rate, uninterrupted service 24/7 to Intercity’s corporate customers throughout Turkey from the company’s branches in Istanbul, Ankara, Izmir, Bursa, Samsun, Adana and Antalya.