Fiat S.p.A.From Wikipedia, the free encyclopediaThis article is
about the former holding company of Fiat Group. For the company
that succeeded Fiat S.p.A., and owns the Fiat Group, seeFiat
Chrysler Automobiles. For the subsidiary which produces Fiat
branded cars, seeFiat Automobiles.Fiat S.p.A.
Former typeSociet per azioni
TradedasBIT:F
IndustryAutomotiveMedia
FateMerged into successorFiat Chrysler Automobiles, taking
control of the Fiat Group.
SuccessorFiat Chrysler AutomobilesFCA Italy S.p.A.
Founded11 July 1899 inTurin,Italy
FounderGiovanni Agnelli
Defunct12 October 2014
HeadquartersTurin, Italy
Key peopleJohn Elkann(Chairman)Sergio Marchionne(CEO)
ProductsAutomobiles,commercial vehicles,auto parts, newspapers,
production systems
Production output4.2 million units(mass market brands - new cars
and LCVs)(2012)[1]
Revenue83.957billion(2012)[1]
Operating income3.814billion(2012)[1]
Total assets82.119billion(end 2012)[1]
Total equity13.173billion(end 2012)[1]
OwnerExor(30.05%)
Number of employees214,836(end 2012)[1]
SubsidiariesCompanies[2][show]
Websitefiatspa.com
Fiat S.p.A., orFabbrica Italiana Automobili Torino(Italian
Automobile Factory of Turin), was anItalianholding companywhose
original andcoreactivities were in theautomotive industry, and that
was succeeded byFiat Chrysler Automobiles NV(FCA). The Fiat Group
contained many brands such as Ferrari, Maserati, Fiat, Alfa Romeo,
the Chrysler Group, and many more. On 29 January 2014, it was
announced that Fiat S.p.A. (the former owner of Fiat Group) was to
be merged into a new Netherlands-based holding companyFiat Chrysler
Automobiles NV(FCA), took place before the end of 2014.Fiat
Chrysler Automobilesbecame the new owner of Fiat Group.[3]On 1
August 2014, Fiat S.p.A. received necessary shareholder approval to
proceed with the merger (which followed board approval).[4]The
merger became effective 12 October 2014.[5][6]Fiat was founded in
1899 by a group of investors, includingGiovanni Agnelli. During its
more than century-long history, Fiat has also manufactured
railwayenginesand carriages,military vehicles, farmtractors,
andaircraft. In 2013, Fiat (together with Chrysler) was the second
largest European automaker by volumes produced, and theseventh in
the worldahead ofHonda,PSA Peugeot Citron,Suzuki,Renault,
andDaimler AG.Over the years, Fiat has acquired numerous other
automakers: it acquiredLanciain 1968, became a shareholder
ofFerrariin 1969, took control ofAlfa Romeofrom the Italian
government in 1986, purchasedMaseratiin 1993, and became the full
owner ofChrysler Group LLCin 2014. Fiat Group currently produces
vehicles under twelve brands:Abarth,Alfa
Romeo,Chrysler,Dodge,Ferrari,Fiat,Fiat
Professional,Jeep,Lancia,Maserati,Ram Trucks, andSRT.In 1970, Fiat
employed more than 100,000 in Italy when its production reached the
highest number, 1.4 million cars, in that country.[7]As of 2002,
Fiat built more than 1 million vehicles at six plants in Italy and
the country accounted for more than a third of the companys
revenue.[7]Fiat-brand cars are built in several locations around
the world. Outside Italy, the largest country of production is
Brazil, where the Fiat brand is the market leader.[8][9]The group
also has factories in Argentina, Poland and Mexico (where
Fiat-brand vehicles are manufactured at plants owned and operated
by Chrysler for export to the U.S., Brazil, Italy and other
markets) and a long history of licensing manufacture of its
products in other countries. It also has numerous alliances and
joint ventures around the world, the main ones being located in
Serbia, France, Turkey, India and China.Gianni Agnelli, the
grandson of founder Giovanni Agnelli, was Fiat's chairman from 1966
until 1996; he then served as honorary chairman from 1996 until his
death on 24 January 2003, during which timeCesare Romitiserved as
chairman. He was succeeded briefly by Paolo Fresco, who served as
chairman, and Paolo Cantarella, as CEO.Umberto Agnellithen took
over as chairman from 2003 to 2004. After Umberto Agnelli's death
on 28 May 2004,Luca Cordero di Montezemolowas named chairman, with
Agnelli heirJohn Elkannbecoming vice chairman (at the age of 28),
and other family members also serving on the board. On 1 June 2004,
Giuseppe Morchio was replaced bySergio Marchionneas
CEO.Contents[hide] 1History 1.1Gianni Agnelli 1.2Paolo Fresco
1.3Sergio Marchionne 1.4Acquisition of Chrysler 2Activities
2.1Principal subsidiaries 2.2Alliances and joint ventures
2.3Automotive 2.4Trucks & Buses 2.5Commercial vehicles
2.6Agricultural and Construction equipment 2.7Components
2.8Metallurgical products 2.9Production systems 2.10Services
2.10.1Construction 2.10.2Information technology 2.11Publishing and
communication 2.12Other activities 2.12.1Aviation and motorcycles
2.12.2Weapons 2.12.3Rail transport 2.12.4Recreation 3Enterprises
outside Italy 3.1Fiat Automveis (Brazil) 3.2Fiat Argentina 3.3Fiat
Automobili Srbija 3.4Polski Fiat/FSO (Poland) 3.5AutoVAZ Lada
(Russia) 3.6Bulgaria 3.7Tofa (Turkey) 3.8SEAT (Spain) 3.9Ethiopia
3.10Egypt 3.11India 3.12Pakistan 3.13Sri Lanka 3.14North Korea
3.15China 4See also 5References 6External linksHistory
Fiat 3 CV (1899)
Corso Dante plant
Fiat tractor in a 1919 American magazine article
Lingottofactory (1928)
Advertisement, 1939
Mirafiori plant
Lingottofactory (today)Giovanni Agnelli, with several investors,
founded the Fabbrica Italiana Automobili Torino (F.I.A.T.)societ
per azioni (S.p.a.),[10]Italian Automobile Factory of Turin, in
1899. Itsacronymousname was changed to upper- and lower-caseFiatin
1906.[11]Agnelli led the company until his death in 1945,
whileVittorio Vallettaadministered the firm's daily activities. Its
first car the3 CV(of which only 24 copies were built, all bodied
byAlessioof Turin)[12]strongly resembled contemporaryBenz,[13]and
had a 697cc (42.5cuin) boxer twin engine.[13]In 1903, Fiat produced
its first truck.[14]In 1908, the first Fiat was exported to the
US.[14]That same year, the first Fiat aircraft engine was produced.
Also around the same time, Fiat taxis became popular in
Europe.[15]By 1910, Fiat was the largest automotive company in
Italya position it has retained since. That same year, a new plant
was built inPoughkeepsie, NY, by the newly founded American
F.I.A.T. Automobile Company.[16][17]Owning a Fiat at that time was
a sign of distinction. The cost of a Fiat in the US was initially
$4,000[18]and rose up to $6,400 in 1918,[19]compared to $ 825 for
aFord Model Tin 1908,[20]and $ 525 in 1918,
respectively.[21]DuringWorld War I, Fiat had to devote all of its
factories to supplyingthe Allieswith aircraft, engines, machine
guns, trucks, and ambulances. Upon the entry of the US into the war
in 1917, the factory was shut down as US regulations became too
burdensome[citation needed]. After the war, Fiat introduced its
first tractor, the 702.[22]By the early 1920s, Fiat had a market
share in Italy of 80%.[23]In 1921, workers seized Fiat's plants and
hoisted the red flag of communism over them. Agnelli responded by
quitting the company. However, theItalian Socialist Partyand its
ally organization, theItalian General Confederation of Labour, in
an effort to effect a compromise with the centrist parties ordered
the occupation ended. In 1922, Fiat began to build the
famousLingottocar factorythen the largest in Europewhich opened in
1923. It was the first Fiat factory to use assembly lines; by 1925,
Fiat controlled 87% of the Italian car market.[24]In 1928, with
the509, Fiat included insurance in the purchase price.[25]Fiat made
military machinery and vehicles during World War II for
theArmyandRegia Aeronauticaand later for the Germans. Fiat made
obsolete fighter aircraft like the biplaneCR.42, which was one of
the most common Italian aircraft, along withSavoia-Marchettis, as
well as light tanks (obsolete compared to their German
andSovietcounterparts) and armoured vehicles. The best Fiat
aircraft was theG.55fighter, which arrived too late and in too
limited numbers. In 1945the yearMussoliniwas overthrowntheNational
Liberation Committeeremoved the Agnelli family from leadership
roles in Fiat because of its ties to Mussolini's government. These
were not returned until 1963, when Giovanni's grandson,Gianni, took
over as general manager until 1966, as chairman until 1996.Gianni
Agnelli
Gianni Agnelli (in the center) and the Fiat board of directors
meet Italian PresidentSandro Pertini(at his right) during an
official visit to the newSevel Val di Sangrofactory, 1981Among the
younger Agnelli's first steps after gaining control of Fiat was a
massive reorganization of the company management, which had
previously been highly centralized, with little provision for the
delegation of authority and decision-making. Such a system was
effective in the past, but lacked the responsiveness and
flexibility needed by Fiat's steady expansion, and the growth of
its international operations in the 1960s. The company was
reorganized on a product-line basis, with two main product
groupsone for passenger cars, the other for trucks and tractorsand
a number of semi-independent division and subsidiaries. Top
management, freed from responsibility for day-by-day operations of
the company, was able to devote its efforts to more far-reaching
goals. In 1967, Fiat made its first acquisition when it
purchasedAutobianchi; with sales amounting to $1.7billion, it
outstripped Volkswagen, its main European competitor, and in 1968
produced some 1,750,000 vehicles while its sales volume climbed to
$2.1billion. According toNewsweekin 1968, Fiat was "the most
dynamic automaker in Europe...[and] may come closest to challenging
the worldwide supremacy of Detroit." Then, in 1969, it purchased
controlling interests in Ferrari and Lancia. At the time, Fiat was
aconglomerate, owningAlitalia, toll highways, a typewriter and
office machine manufacturer, electronics and electrical equipment
firms, a paint company, a civil engineering firm, and an
international construction company. Following up on an agreement
Valletta had made with Soviet officials in 1966, Agnelli
constructed theAvtoVAZplant in the new city ofTogliattigradon
theVolga. This began operation in 1970, producing a local version
of theFiat 124as theLada. On his initiative, Fiat automobile and
truck plants were also constructed in industrial centers
ofYugoslavia, Poland, Bulgaria, and Romania.Despite offering a
relatively competitive range of cars, Fiat was not immune from the
financial pressures that the auto industry confronted following the
1973oil price shock. Towards the end of 1976 it was announced that
the Libyan government was to take a 9.6% shareholding in the
company in return for a capital injection worth an equivalent of
250million.[26]The size of the Libyan investment is apparent when
it is compared to the 310millionIMFloan that the Italian government
was trying to negotiate at the time.[26]Other aspects of the Libyan
agreement included the construction of a truck and bus plant
atTripoli.[26]Chairman Agnelli candidly described the deal as "a
classic petro-money recycling operation which will strengthen the
Italian reserves, provide Fiat with fresh capital and give the
group greater tranquility in which to carry out its investment
programmes".[26]Equally noteworthy was the fact that despite the
dilutive effect of the Libyan investment on existing shareholders,
the company's largest shareholder, the Agnelli family, retained a
30% stake in the recapitalised business.[26]In 1979, the company
became a holding company when it spun off its various businesses
into autonomous companies, one of them being Fiat Auto. That same
year, sales reached an all-time high in the US, corresponding to
theIranian Oil Crisis. However, when gas prices fell again after
1981, Americans began purchasingsport utility vehicles,minivans,
andpickup trucksin larger numbers (marking a departure from their
past preference for large cars). Also, Japanese automakers had been
taking an ever-larger share of the car market, increasing at more
than half a percent a year. Consequently, in 1984, Fiat and Lancia
withdrew from the United States market. In 1989, it did the same in
the Australian market, although it remained in New Zealand.In 1986,
Fiat acquired Alfa Romeo from the Italian government. Also, in 1986
15% of Fiat company stock was still owned by Libya, an investment
dating back to the mid-seventies. US foreign policy under President
Reagan's administration canceled a Pentagon contract to produce
earth movers with Fiat and pressured the company into brokering a
buyout of the Libyan investment. In 1992, two top corporate
officials in the Fiat Group were arrested for political
corruption.[27]A year later, Fiat acquired Maserati. In 1995 Alfa
Romeo exited the US market. Maserati re-entered the US market under
Fiat in 2002. Since then, Maserati sales there have been increasing
briskly.Paolo FrescoPaolo Fresco became chairman of Fiat in 1998
with the hope that the veteran ofGeneral Electricwould bring more
emphasis on shareholder value to Fiat. By the time he took power,
Fiat's market share in Italy had fallen to 41%[citation needed]from
around 62% in 1984.[citation needed]However, a Jack Welch-like
management style would be much harsher than that used by the
Italians (e.g., precarious versus lifetime employment). Instead,
Fresco focused on offering more incentives for good performance,
including compensation using stock options for top and middle
management.However, his efforts were frustrated by union
objections. Unions insisted that pay raises be set by length of
tenure, rather than performance. Another conflict was over his
preference for informality (the founder, Giovanni Agnelli, used to
be a cavalry officer). He often referred to other managers by their
first name, although company tradition obliged one to refer to
others using their titles (e.g., "Chairman Fresco"). The CEO of the
company, Paolo Cantarella, ran the day-to-day affairs of the
company, while Fresco determined company strategy and especially
acted as a negotiator for the company. In 1999, Fiat formed CNH
Global by merging New Holland NV and Case Corporation.In 2003, Fiat
shed its insurance sector, which it was operating through Toro
Assicurazioni to the DeAgostini Group. In the same year, Fiat sold
its aviation business, FiatAvio to Avio Holding. In February 2004,
the company sold its interest in Fiat Engineering, as well as its
stake in Edison.Sergio Marchionne
Sergio Marchionne, Chief Executive Officer of Fiat GroupSergio
Marchionnewas appointed CEO of Fiat in 2004 and initially he
impressed investors.[28]At the end of the 2005 financial year, the
company saw its first profit in 17 quarters of 196M for the first 9
months of FY2006.[29]Marchionne reduced Fiat's managerial
bureaucracy refocused the business on markets and profit. While
chairman, Luca di Montezemolo, dealt with politicians and unions,
Marchionne rebuilt the car business. The success of theGrande
Puntomodel was in large part responsible for the turnaround in
Fiat's fortunes, but the award-winning 500 cemented it. Fiat formed
a joint venture with India'sTATA Motors, which has subsequently
ended,[30]and with China'sChery Motorswhich didn't conclude. In
2005 Fiat courted Ford,[31]and returned to China with a joint
ventureGAC Fiatcreated in 2010. Under Marchionne Fiat also
re-entered several large markets that it had exited years before,
such as Mexico and Australia.In December 2008, Marchionne announced
Fiat had to become one of the top five automakers to survive in the
long run. Under Marchionnes leadership, Fiat returned to Canadian
and American markets with the new 500. However, since 2009,
Marchionne has presided over a business that has experienced a loss
in European market share from 9.3 to 6.2 percent.[32]In December
2013, Marchionne announced that he intended to discontinue
theGrande Puntoso that the company could focus on "cool, high
margin"Fiat 500 (2007)variants and theFiat Panda.[33]In 2010,John
Elkannbecame the Chairman of Fiat SpA and shareholders approved a
plan to demerger Fiat's capital goods businesses. Agricultural and
construction equipment manufacturerCNH GlobalNV, truck makerIveco,
and the industrial and marine division ofFiat Powertrain
Technologieswere spun off into a new group on 1 January 2011. The
parent company,Fiat IndustrialS.p.A., was listed on the Milan stock
exchange on 3 January 2011.[34]In 2010, credit rating
agencyFitchcut Fiat's debt rating to BB- after it had accumulated a
debt of around9.3 billion. In 2013, Fiats debt rating was cut
again, this time byMoody's, to Ba3[35]over concerns European demand
was lower and debt was falling slower than
expected.[36]TheFinancial Timesestimate of Fiat's debt at the time
was almost28 billion.[37]Acquisition of ChryslerOn 20 January 2009,
Fiat S.p.A. andChrysler LLCannounced their intention to form a
global alliance. Under the terms of the agreement, Fiat would take
a 20% stake in Chrysler and gain access to its North American
distribution network in exchange for providing Chrysler with
technology and platforms to build smaller, more fuel-efficient
vehicles in the US and providing reciprocal access to Fiat's global
distribution network.[38][39]Agreements were signed on 30 April
2009,[40]with Fiat's future shareholding capped at 49% until all
government loans had been repaid.[41][42]In addition, the proposed
agreement would entitle Fiat to receive a further 15% (without cash
consideration) through the achievement of specific product and
commercial objectives. No cash or financial support was required
from Fiat under the agreement. Instead it would obtain its stake
mainly in exchange for covering the cost of retooling a Chrysler
plant to produce one or more Fiat models for in the US. Fiat would
also provide engine and transmission technology to enable Chrysler
to introduce smaller, fuel-efficient models in the NAFTA market.
The deal was engineered by Fiat chiefSergio Marchionne, who pulled
the Italian group back from the brink of collapse after taking over
in 2004. The principal objective of the partnership was to provide
both groups with significantly enhanced economies of scale and
geographical reach at a time when they were struggling to compete
with larger and more global rivals such asToyota,Volkswagenand
alliance partnersRenault S.A.andNissan.[38]Fiat would not have to
pay any money for its 20% of Chrysler. On 7 June 2009, theIndiana
State PolicePension Fund, the Indiana Teacher's Retirement Fund,
and the state's Major Moves Construction Fund asked the US Supreme
Court to delay the sale of Chrysler to Fiat while they challenge
the deal. The funds argued that the sale went against US bankruptcy
law because it unlawfully rewarded unsecured creditors ahead of
secured creditors.[43]On 9 June 2009, the Supreme Court lifted the
temporary hold, clearing the way for Fiat to acquire
Chrysler.[44]SeeIndiana State Police Pension Trust v. Chryslerfor
more information. On 10 June, the Supreme Court announced that Fiat
was now an owner of the new Chrysler a.k.a.Chrysler Group
LLC.Marchionne was appointed CEO of Chrysler following its
emergence from bankruptcy proceedings. Under his leadership,
Chrysler has taken on a structure similar to that of Fiat and has
released, in quick succession, a large number of completely
redesigned or refreshed vehicles.[citation needed]Fiat launched
its500, which had been available in Europe since 2007, in theUnited
StatesandCanadain 2011, marking the company's return to theAmerican
auto market, which it had been absent from since 1984. Prior to
this, Fiat's main presence on the continent was Mexico, where it
offers a greater variety of products than in the United States and
Canada.On 10 January 2011, Fiat announced that it had increased its
share in Chrysler from 20% to 25% following the achievement of the
first of three performance objectives.[45]On 11 April 2011, it
announced achievement of the second performance objective,
increasing its stake a further 5% to 30%.[46]On 24 May 2011, Fiat
announced that it had paid Chrysler US$ 1,268million for a further
16% interest, increasing its stake total stake to 46% (fully
diluted). The transaction coincided with Chrysler refinancing its
debt to the U.S. and Canadian governments.[47]On 25 May
autonews.com reported that Fiat could buy government stakes in
Chrysler as soon as the end of July 2011, increasing its total
stake to 54%.[48]In May 2011, it emerged that Fiat could actually
increase its stake in Chrysler Group to more than 70 percent
through the exercise of further options.[49]In a regulatory filing
dated 22 July 2011, the Michigan-based automaker reported that Fiat
held a 53.5% interest (fully diluted). Fiat and Chrylser have both
stated that they expect that interest to reach 58.5% by the end of
2011 as result of achievement of the third of the three performance
objectives.[50]In 5 January 2012 Fiat released press info that the
ownership has increased to 58.5%.[51]The stake was further
increased to 68.49% in July 2013.[52]On 1 January 2014, Fiat
announced it would be acquiring the remaining shares of Chrysler
owned by theVEBAworth $3.65 billion.[53]The deal was completed by
21 January.On 29 January 2014, it was announced that Fiat S.p.A.
would be merged into a new company, Fiat Chrysler Automobiles NV,
incorporated in the Netherlands with tax domicile in the UK. Fiat
Chrysler Automobiles will become the owner of Fiat Group.[3]On
August 1, 2014, Fiat S.p.A. received necessary shareholder approval
to proceed with the merger (which followed board approval).[4]FCA
will be listed on the New York Stock Exchange with an additional
listing on the Mercato Telematico Azionario in Milan to
follow.Activities
Fiat Group revenues by sector in 2009The group's activities were
initially focused on the industrial production of cars, industrial
and agricultural vehicles. Over time it has diversified into many
other fields, and the group now has activities in a wide range of
sectors in industry and financial services. It is Italy's largest
industrial concern. It also has significant worldwide operations,
operating in 61 countries with 1,063 companies that employ over
223,000 people, 111,000 of whom are outside Italy.Fiat's main
shareholders include 30.1% byExor S.p.A(controlled by the Agnelli
family), 24.9% by EU institutional investors, 11.2% by outside EU
institutional investors and 2.6% byBaillie Gifford & Co., a
Scottish investment management company.[1]Principal
subsidiariesFiat's principal operating subsidiaries (direct and
indirect) include: Fiat Group Automobiles S.p.A. (FGA),Chrysler
Group LLC, Fiat Automoveis, S.A. (subsidiary of FGA); FGA Capital
S.p.A. (a JV held 50% by FGA and 50% byCrdit AgricoleCF),Ferrari
S.p.A.,Maserati S.p.A., Magneti Marelli S.p.A., Teksid S.p.A.,
Comau S.p.A., Itedi-Italiana Edizioni S.p.A. (see 2010 Annual
Report[54])Alliances and joint venturesFiat has undertaken numerous
joint ventures and alliances. Commencing in 1978, theType Four
platformwas an alliance between Alfa Romeo, Fiat, Lancia and Saab
and resulting in a range of cars on sale in the mid 1980s.In 2000 a
number of joint ventures were established withGeneral
Motorsfollowing GM buying 20% of Fiat while Fiat bought 6% of GM.
Complications with the relationship saw these JVs being wound back
by 2005.[55]Resulting projects included theGM Fiat Small
platformandFiat-GM Powertrain.In 2005, Fiat formed an alliance
withFordto create a new small car, resulting in theFiat 500andFord
Ka.[56]In 2012, Fiat formed an alliance withMazdato develop and
build a new rear wheel drive roadster for the Alfa Romeo and Mazda
brands.[57]AutomotiveFor Fiat branded cars seeFiat Automobiles
Global locations of Fiat Group automobile production sites,
2008. Including own plants, joint ventures and license production.
Excluding Chrysler.
A Fiat 1500 at a vintage car event in Germany in May 2014
Fiat 500Lin production from 2012
Lancia Delta
Alfa Romeo 159
Maserati GranTurismo
Ferrari 458 Italia
Fiat is the largest vehicle manufacturer in Italy, with cars
ranging from small Fiatcity carsto sports cars made by Ferrari, and
vans and trucks such as theDucato. Besides Fiat Group Automobiles
S.p.A, Fiat Group automotive companies includeChrysler Group
LLCandMaserati S.p.A.The Fiat Group Automobiles S.p.A. companies
include:Abarth & C. S.p.A.,Alfa Romeo Automobiles S.p.A.,Fiat
Automobiles S.p.A.,Fiat ProfessionalandLancia Automobiles
S.p.A..Ferrari S.p.A.is 90% owned by the Fiat Group.[58]The company
also ownsAutobianchibut the marque has been dormant since 1995,
andInnocenti, which ceased production in 1996.TheEuropean Car of
the Yearaward, Europe's premier automotivetrophyfor the past 50
years, has been awarded twelve times to the Fiat Group, more than
any other manufacturer, most recently with theFiat 500in
2008.[59]Previous Fiat Group models which have won European Car of
the Year:Fiat 124(1967),Fiat 128(1970),Fiat 127(1972),Lancia
Delta(1980),Fiat Uno(1984),Fiat Tipo(1989),Fiat Punto(1995),Fiat
Bravo/Brava(1996),Alfa Romeo 156(1998),Alfa Romeo 147(2001) and
theFiat Panda(2004).Trucks & BusesFor Fiat branded trucks &
buses from 1903 to 1975, seeFiat Industrial VehiclesIveco, Fiat's
former truck, bus and specialty vehicles business unit, was
demerged intoFiat Industrialat the beginning of 2011.[60]Commercial
vehiclesOn 17 April 2007, Fiat Automobiles'light commercial
vehicleunitFiat Veicoli Commercialiwas rebranded asFiat
Professional.[61]Some of Fiat's light commercial vehicle products
include theFiat Ducato,Fiat ScudoandFiat DoblCargo.Agricultural and
Construction equipmentFor Fiat branded Agricultural &
Construction equipments from 1917 to 1991, seeFiat Trattoriand from
1992 to 2014, seeCNH Global.ComponentsThe major Italian component
makerMagneti Marelliis owned by Fiat, and it in turn owns other
brands such as AL-Automotive Lighting, Carello, Cromodora, Cofap,
Ergom Automotive, Jaeger, Mako Elektrik, Paraflu, Seima, Siem SpA,
Solex, Veglia Borletti, Vitaloni and Weber.Metallurgical
productsFiat ownsTeksid S.p.A., the largest iron foundry group in
the world with a production capacity of approximately 600,000 tons
annually. The company was established in December 1978, and designs
and produces cylinder blocks, cylinder heads, exhaust manifolds,
drive shafts, camshafts and other components for automobiles and
commercial vehicles. Teksid, which is specialized in casting and
processing iron, has plants in France, Portugal, Poland, Brazil,
Mexico and China. Since 2007, Teksid S.p.A. runs also Teksid
Aluminum S.r.l. a company specialized in casting and producing auto
components from aluminum alloys.Production systemsProduction
systems are made mainly throughComau S.p.A.(now Comau Systems),
which bought the American Pico, Renault Automation and Sciaky and
produces industrial automation systems. In the 1970s and 1980s, the
company became a pioneer in the use of industrial robotics for the
assembly of motor vehicles. Fiat assembly plants are among the best
automated and advanced in the world.ServicesAn insurance company,
Toro Assicurazioni, allowed Fiat to control a relevant part of this
market (also with minor companies like Lloyd Italico) and to
interact with some associated banks. Toro Assicurazioni was
acquired by the giant insurance companyAssicurazioni Generaliand is
no longer part of the Fiat Group.ConstructionIngest Facility and
Fiat Engineering work in various fields of construction, while IPI
is a mediation company that also deals with the management of real
estate properties.Information technologyFiat Group is present
inITfields and in communications with ICTInformation &
Communication Technology, Global Value, TeleClient, London and
Atlanet.Publishing and communicationFiat Group also has interests
in several major publishing houses and national and local
newspapers, such asLa Stampa(created in 1926), Itedi, and Italiana
Edizioni. A specialised advertising space reseller is Publikompass,
supported by the Consorzio Fiat Media Center. Fiat is also has one
of the largest shareholdings inRCS MediaGroup.Other activitiesFiat
Gesco, KeyG Consulting, Sadi Customs Services, Easy Drive, RM Risk
Management and Servizio Titoli are minor companies that work for
public services, delivering services in economics and financial
fields. Other activities include industrial securitisation
(Consorzio Sirio), treasury (Fiat Geva), Fiat Information &
Communication Services.Fiat supports theFondazione Giovanni
Agnelli, an important foundation for social and economic
research.Palazzo Grassi, a well-known historic building inVenice,
now a museum and formerly supported by Fiat, was eventually sold to
the French businessmanFranois Pinaultin January 2005.Aviation and
motorcycles
Fiat G91T training aircraftMain articles:Fiat
Aviazione,AvioandPiaggio AeroFiat, as Fiat Aviazione, was an
important aircraft manufacturer, focused mainly on military
aviation. After World War I, Fiat consolidated several Italian
small aircraft manufacturers, likePomilioandAnsaldo. Most famous
were Fiat biplanefighter aircraftof the 1930s,Fiat CR.32andFiat
CR.42. Other notable designs were fightersCR.20,G.50,G.55and a
bomber, theFiat BR.20. In 1950s, the company designed theG.91light
ground attack plane. In 1969, Fiat Aviazione merged withAerferto
createAeritalia.In 1959,Piaggiocame under the control of the
Agnelli family. In 1964, the aeronautical and motorcycle divisions
split to become independent companies. The aeronautical division
was named IAM Rinaldo Piaggio. Today the aeronautical
companyPiaggio Aerois controlled by the family ofPiero Ferrari,
which also holds 10% of the carmakerFerrari.Main article:VespaThe
motorcycle division, Vespa, thrived until 1992, when Giovanni
Alberto Agnelli became CEObut Agnelli was already suffering from
cancer, and died in 1997. In 1999,Morgan Grenfell Private
Equityacquired Piaggio.
Fiatartillery tractorin the journalHorseless Age,
1918.WeaponsFiat builtartillery tractorsfor the French and Italian
armies inWorld War I.Societ Anonima Fabbrica Armi Torino(SAFAT) was
a wholly owned subsidiary of FIAT in the 1930s, designing and
manufacturing weapons for the Italian armed forces. After losing a
competition to produce a series of new machine-guns for theRegia
Aeronautica, SAFAT was sold to the winning competitor -Societ
Italiana Ernesto Breda, formingBreda-SAFAT.Rail transport
Early rail cars at theFinnish Railway Museum. The green car is a
Fiat and the black car is a CadillacFiat Ferroviaria, there has
been a long history going back pre WW2 of Fiat motive power used
for both Diesel and electric locomotives and railcars (Littorine)
not only in Italy, but other parts of Europe, and in South America,
but from the 1970s onward, more widely known throughout the world
with their successful commercial development of the
Pendolinotilting trains, the first working prototype four-car set
being run in the mid-1970s. Fiat Ferroviaria was later sold to
Alstom in the middle 1990s.RecreationThe Fiat Group owned
theSestriereskiing facilities; the village in theAlpsis a creation
of the Agnelli family. The Sestriere skiing facilities were sold by
the group in 2006.Enterprises outside ItalySee list ofFiat Group
assembly sitesFiat was a key player in developing motor industries
for a number of countries from the 1950s, particularly in Eastern
Europe, Spain, Egypt, Ethiopia and Turkey. TheAutoVAZstate
worksLadaproducts in Tolyatti (Togliatti), Russia, were Fiat based,
as were SEAT products of Spain. Lada is now controlled byRenault,
and SEAT byVolkswagen. A small number of Fiats were built in
Bulgaria. Among Fiat's earliest foreign assembly plants was one
inPoughkeepsie, New York, between 1910 and 1913.[16][17]The
building is now part of theMarist Collegecampus.Fiat Automveis
(Brazil)
The 1979 Brazilian Fiat 147 was the first modern car to run on
purehydrousethanol fuel(E100)Fiat Automveis S.A., a subsidiary of
Fiat S.p.A.,[62]began making automobiles in Brazil in 1976
beginning with the production of theFiat 147, the Brazilian version
of the ItalianFiat 127, produced until 1986. More than 10,000,000
units have been produced in Fiat Automveis factory inBetimsince
1976,[63]plus 232,807 units in the Fiat Argentina plant ofCrdoba.
The original factory, located in the city ofBelo Horizonte, cost
$250 million to build. The state ofMinas Geraishad a 10-20% stake
in the company and also provided special economic benefits to
Fiat.[64]Launched in July 1979, the 147 was the first mass-produced
car that ran onethanolas fuel instead of petrol.[65][66][67]The
performance slightly increased and fuel consumption was 30% higher
but the cost of the alcohol was a quarter of the gasoline because,
at that time, petrol had become expensive as a consequence of
the1979 oil crisis. This version was
nicknamedcachacinha(littlecachaa) because it had the scent of that
Brazilian drink.
Fiat Siena Tetrafuel1.4, amultifuelcar that runs as
aflexible-fuelon gasoline,E20-E25 gasohol, ethanol (E100); or as
abi-fuelwithCNGIn October 1984 Fiat Automveis introduced theFiat
Uno, which continued on sale until the end of 2013 as the renamed
Fiat Mille, resulting in total production of 3.6 million
vehicles.[68]Production of theFiat Palioworld car began in
1996.After the successful 2003 introduction offlexible-fuel
vehiclesin the Brazilian market,[69]Fiat Automveis launched its
first flex model in March 2004, theFiat Palio, followed by
theSienaandPalio Weekend.[70]Fiat sold 665,514 vehicles in Brazil
in 2008,[71]allowing the carmaker to continue as the market leader
for seven years in a row.[72]Flex fuel automobiles represented
almost 100 percent of the car sales in 2008, and 92 percent of all
light-duty trucks sold.[73]In 2006 Fiat introduced theFiat Siena
Tetra fuel, a four-fuel car developed underMagneti Marelliof Fiat
Brazil.[74][75]This automobile can run as aflex-fuelon 100% ethanol
(E100); or onE20-E25 blend, Brazil's normal ethanol gasoline
blend;[76]on pure gasoline (though no longer available in Brazil
since 1993,[77][78]it is still used in neighboring countries); or
just onnatural gas (CNG). The Siena Tetrafuel was engineered to
switch from any gasoline-ethanol blend to CNG automatically,
depending on the power required by road conditions.[79]Fiat
ArgentinaFiat has been present in Argentina since the beginning of
the 20th century. There was a Fiat manufacturing plant in Crdoba at
least as far back as 1954 when Fiat entered into a joint venture
with two local companies to manufacture tractors. The company was
known as Fiat-Concord until 1980. In 1959 the construction of a car
plant inCaseroswas approved, and 1960 saw the production there of
the first Argentinian produced Fiat passenger car, aFiat 600, after
theFiat 1100Export and after in 1963 theFiat 1500. In 1977 appears
the Fiat 133, just a rebadged Seat 133 but made in Argentina. By
1978 a car manufacturing facility was well established inCrdoba,
producingFiat 128sas well as two models which from the Italian
perspective belonged in earlier decades, the125(with some
derivates) and the600R.[80]In 1980 a joint venture
withPSAcalledSevel Argentina S.A.was begun, which lasted until
1995. The current day automobile manufacturing started with a new
factory opened inCrdobaon 20 December 1996.[81]From April 1997 the
Siena and Palio models production started.Production was suspended
in the early 2000s as the Argentinean economy went downhill. In
2008 Fiat invested new money and the production of Fiat Siena
saloon and the Fiat Palio was started. In October 2009, a Fiat
Siena HLX becomes the 2 million unit produced by Fiat in Argentina.
The Fiat Auto Argentina S.A. is Fiat S.p.A. owned company.[82]Fiat
Automobili SrbijaIts first enterprise came in 1955, when it agreed
to a deal withYugoslavcarmakerZastavato assemble Fiats for Eastern
Europe. The first cars produced by Zastava were its versions of
theFiat 1300andFiat 1400. By 1970, Zastava was producing parts for
the newerFiat 124andFiat 125models, which were assembled in Poland.
TheZastava 750, launched in 1962, was Zastava's version of the
iconicFiat 600minicar. It outlived the car on which it was based,
with production lasting until 1981. Zastavas were not popular
outside of Eastern Europe before the 1980s, although they were
exported to the US and several European countries under the Yugo
brand during the 1980s.The most famous product launched by Zastava
is theZastava 101, a front-wheel drive car based on theFiat 128,
also available as ahatchbackversion never sold in Italy. With the
demise of theZastava 750in 1981, the minicar gap in the Zastava
range was filled by theZastava Koral, which was best known in
Britain and America as the Yugo Tempo or Yugo 45/55. It was based
on the 1971Fiat 127, which was due to be replaced by theFiat Unoin
1983. Hostility towards Yugoslavia in the wake of the 1992 civil
unrest saw a swift ending of imports to both Britain and America.
The Zastava factory inKragujevacwas later bombed, but was rebuilt
after the war ended, and production continued at another factory
inKragujevac.In 1987, Zastava came up with a new car design.
TheZastava Floridaknown in other markets as theYugo Sanawas styled
byGiorgetto Giugiaroat theItalDesignstudio, featured a range of
refinedPeugeotengines. Sales continued in its homeland, with an
update at the end of the 1990s. Zastava did not launch another new
car for another 16 years. The 2003Zastava 10model was another Fiat
designthis time the second generationPunto, and in 2009 was renamed
Fiat Punto ClassicA new memorandum of understanding between Fiat
and the Serb ministry of economic and regional development about
the acquisition of Zastava's Kragujevac plant in 2008 led to a new
company being set up in which the Italians would have a 70 percent
stake and the Serb government 30 percent.[83]The factory was
renamed from "Zastava Automobili Srbija" to "Fiat Automobili
Srbija". In 2010 and 2011, FAS (Fiat Automobili Srbija) underwent
large-scale reconstruction for production of theFiat 500Lin
2012.[84]Polski Fiat/FSO (Poland)Main article:Fabryka Samochodw
Osobowych
Fiat 500 & 126Fiat automobiles have been made in Poland
since 1920. In 1932, thePolskie Zakady Inynieryjne (Polish
Engineering Works, PZIn)started the production ofFiat 508, produced
until 1939 also as a military vehicle. In 1936 the licence was
extended to include theFiat 518model. In 1965, the Polish communist
government signed a deal with Fiat to produce selected Fiat models
in Poland at theFSOfactory inWarsawthat had been built in 1951.
Production of the new carthePolski Fiat 125pbegan in 1967. It was
visually identical to theFiat 125, but it made use of older Fiat
mechanicals which dated back to 1960. The car sold well in its
homeland and was soon exported to Western Europe. 1978 saw the
appearance of a new five-door hatchback, theFSO Polonez, that made
use of Fiat 125prunning gear. After 1982, Fiat withdrew its
licence; since then FSO badge was reinstated with thePolski Fiat
125psurviving until 1991, and the Polonez production ending in
2002. FSO was taken over byDaewooof South Korea in 1995, and become
independent again in late 2000, after Daewoo went bankrupt and was
taken over by General Motors.Fabryka Samochodw Maolitraowych(FSM)
inBielsko-BiaaandTychywas a joint venture between FSO and Fiat, and
manufactured theFiat 126(p)in 1973 and theCinquecentoin 1991. In
1992 Fiat owned 90% of FSM (called Fiat Auto Poland, since 1993)
and since then it producedCinquecento,Uno,Seicento,SienaandPalio
Weekendmodels with the capacity up to 200.000 cars a year. In 2003,
FSM become the sole producer ofFiat Panda, and in 2007, theFiat
500and its relatedFord Ka[85]Capacity was increased with production
reaching over 600,000 in 2009, but dropped below 300,000 in 2013,
resulting in the workforce being cut by a third.[86]AutoVAZ Lada
(Russia)Main article:LadaIn 1966, Fiat helpedUSSRstate industries
build a new car factory (AvtoVAZ) on theVolgariver. A planned city
calledTolyatti(named afterPalmiro Togliatti, formerItalian
Communist PartySecretary) was developed around the factory, which
started producing a "people's car" similar to theVolkswagen
BeetleandCitron 2CVof Germany and France. The new Soviet car,
called theLada, was a more spacious offering, infour-door
saloonandfive-door estatevariants. Fiat installed British machine
tools supplied by Herbert-BSA[87]ofBirminghamfor the manufacture of
many Lada parts. The 124's design was mechanically upgraded to
survive treacherous Russian driving conditions and extremely cold
winters. Imports to Western Europe, Canada, and some third world
countries sold well owing to their low price. This car was upgraded
to become theLada Riva(marketing name in some markets) in 1980.
Lada has gone on to develop some of its own models. Thefour-wheel
driveLada Nivauses some Fiat based components, e.g. engine and
gearbox, but the body and four-wheel drive system are VAZ
designs.Bulgaria19671971 producedPirin-FiatinLovech, Bulgaria.Tofa
(Turkey)Tofais joint venture owned by Fiat SpA and Ko Holding
(37.8% Fiat Group Automobiles, 37.8% Koc and 24.3% others).[88]The
Fiat 124 was produced under licence byTofaas theTofa Murat. This
was replaced by a version of theFiat 131, known as theTofa
ahin(Tofa Murat 131). Today theFiat Lineacar is amongst those
manufactured by the Fiat-Tofas joint venture in Turkey, and the
company has 12.1% of the Turkish car market as of 2007.[89]SEAT
(Spain)In Spain,SEATSociedad Espaola de Automviles de Turismo
(Spanish Touring Car Company)was established with Fiat assistance
in 1950, producing Fiat models under its own brand name until 1981,
when Fiat withdrew its support. In 1982 SEAT signed a cooperation
agreement with the German manufacturerVolkswagenand by the end of
1986 after a purchase of a majority stake SEAT had become part of
theVolkswagen Group. However, production of some Fiat-based models
continued, ending with the Fiat-basedMarbellain
1998.EthiopiaTheFiat 131, known as theHolland
CarDOCC.EgyptFollowing theEgyptian Revolution of 1952,
PresidentGamal Abdel Nasserordered the EGID (General Intelligence
Agent) to establish a state owned automobile company.Nasrwas
founded in 1960 in Helwan, Egypt. It began producing some Fiat
based models, but later produced theTofa ahinunder license by Tofa.
The last Fiat 128 model was built in 2008, while the ahin is in
production in Egypt.Currently theEl-Mashreq Company, a part of
theSeoudi Groupis the main manufacturer of Alfa Romeo and Fiat
vehicles for the Egypt market. TheAAVwas also an Egypt manufacturer
for Fiat. They assembled theFiat Ritmoin order of Nasr.IndiaFiat
India Automobiles Private Limited(FIAPL) is a joint venture between
Fiat andMumbaibasedTata Motors, founded in 1997. Fiat builds
thePalio Stile, Linea andPunto.[90]The Fiat plant is situated in
Ranjangaon near Pune in Maharashtra and also manufactures theTata
Indica.[91]Although not a subsidiary of Fiat,Premier Automobilesof
Mumbai was licensed to manufacture versions of theFiat 500for the
Indian market. This was followed by theFiat 1100in 1954. In 1973,
the Fiat label was replaced with the Premier name.PakistanRaja
Motors are the authorized manufacturers of Fiat motor vehicles in
Pakistan since 1948. The manufacturing started with VESPA scooters
in 1948. The project was expanded in 2001 to facilitate
assembly-cum-manufacturing of theFiat Uno. The production facility
is located in Landhi Industrial Area,Karachi, Pakistan.Sri LankaIn
1973, entrepreneurUpali Wijewardena's Upali Motor Company began
assembly of the local variant of Fiat 128, known as UMC-Fiat
128.[citation needed]Production ended with the introduction of the
open-market economy in 1978.North KoreaThe North Korean car
manufacturer and dealerPyeonghwa Motorsassembles two Fiat models
under licence since 2002: Hwiparam(whistle)based on theFiat Siena,
Bbeokgugi(owl)based on theFiat Dobl.ChinaFiat entered into a 50:50
joint venture withGAC Groupin 2010 to createGAC Fiat Automobiles
Co, with a factory in Changsha completed in 2012 producing a
localised version of theDodge Dartsold as the Fiat Viaggio.See
alsoItaly portal
Companies portal
Cars portal
Automotive industry Automotive industry crisis of 20082009 List
of aircraft engines List of Italian companies Neckar
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