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Fiat

 
Hoover's Profile: Fiat S.p.A.
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(Italian:F)
Contact Information
Fiat S.p.A.
250 Via Nizza
10126 Turin, Italy
Tel. +39-011-006-1111
Fax +39-011-006-3798

Type: Public
On the web: http://www.fiatgroup.com
 Employees: 198,348
Employee growth: 7.1%

The country that gave us Sophia Loren and Leonardo da Vinci also gave us the century-old Fiat. The group's cars range from models like the popular Fiat Nuova 500 to the Alfa Romeo, Ferrari (85% owned), and Maserati brands. As Italy's biggest private employer, Fiat divides its business into autos; CNH Global-led agricultural and construction equipment; Iveco's commercial vehicles; Magneti Marelli, FPT Powertrain Technologies, 85%-owned engine part maker Teksid, and industrial automation supplier Comau under the components banner; and newspaper La Stampa and ad firm Pulikompass as its publishing and communications group. In 2009 Fiat took a 20% stake in Chrysler, assuming management control of the US carmaker.

Key numbers for fiscal year ending December, 2008:
Sales: $83,696.1M
One year growth: (2.8%)
Net income: $2,425.7M
Income growth: (19.8%)

Officers:
Chairman: Luca Cordero di Montezemolo
CEO and Director; CEO, Fiat Group Automobiles; CEO, Chrysler Group LLC: Sergio Marchionne
CTO Fiat Group and Fiat Group Automobiles; CEO, Maserati: Harald J. Wester

Competitors:
Peugeot
Renault
Volkswagen

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Company History: Fiat SpA
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Incorporated: 1906 as Societa Anonima Fabbrica Italiana di Automobili
NAIC: 336111 Automobile Manufacturing; 336211 Motor Vehicle Body Manufacturing; 336412 Aircraft Engines and Engine Parts Manufacturing; 336510 Railroad Equipment (Rolling Stock) Manufacturing; 333111 Farm Machinery and Equipment Manufac- turing; 551112 Offices of Other Holding Companies

Fiat SpA, one of Europe's largest companies, is perhaps best known as a manufacturer of automobiles. However, the company also produces commercial vehicles, construction machinery, thermomechanics and telecommunications equipment, metallurgical products, engine components, railroad stock, tractors, and airplanes. Fiat has interests in bioengineering, transportation, and financial services companies and also owns one of Italy's leading newspapers, La Stampa.

Fiat was founded in 1899 by Giovanni Agnelli, an ex-cavalry officer, and a few other Turin businesspeople. The city of Turin, often known as "Italy's Little Detroit," was developed with Fiat money; in the 1990s, half of its population, either directly or indirectly, remained dependent on Fiat for its livelihood.

The company (Fabbrica Italiana Automobili Torino) began manufacturing automobiles and engine parts for the automotive industry early in the 20th century. With the advent of World War I, however, Fiat significantly expanded its production line, and as the years passed, the company became a conglomeration of various manufacturing enterprises. By the early postwar years, Fiat was manufacturing so many products that Giovanni Agnelli felt it was time to improve central administration.

To help him in his reorganization efforts, Giovanni Agnelli hired Vittorio Valletta, a university professor and former consulting engineer, in 1921. Their aim was to control all of the manufacturing processes as completely as possible, thus reducing their dependence on foreign suppliers. Soon the company became more diverse by pouring its own steel and producing its own plastics and paints. In a further reorganization, Agnelli formed a holding company, the IFI (Industrial Fiduciary Institute), in 1927. In the 1990s, IFI remained one of the wealthiest and most influential holding companies in Europe. It also remained a closed company, owned and operated by Giovanni Agnelli's heirs.

In its first two decades, Fiat produced only two types of automobile: the basic, limited options model and the deluxe model. The company had little incentive to offer other models since it was protected by the Italian government's high-tariff policy (known as "kept capitalism"); as a result, imported cars were far beyond the reach of the average Italian. Indeed, more than 80 percent of all the cars sold in Italy were Fiats, and much of the remaining 20 percent of the country's car sales consisted of expensive Italian-made Lancias and Alfa Romeos.

Finally sensitive to Italian complaints that Fiat's "cheap" car was too expensive, the company developed the Topolino, or "Little Mouse," a four-cylinder, 16-horsepower two-seater that averaged 47 miles per gallon. It was an immediate success and accounted for 60 percent of the Fiats sold in Italy up until the mid-1950s.

Fiat flourished in World War II as it had in World War I, and profits increased significantly under Benito Mussolini's much heralded modernization program. But the company's production of planes, cars, trucks, and armored vehicles for the European and African campaigns of the Axis forces made its plants prime targets for Allied bombing raids.

Fiat faced the postwar era with war-torn plants and antiquated production facilities, and at the height of its disarray, in 1945, Giovanni Agnelli died. Valletta was named president and managing director and immediately set about reviving the company's fortunes, aided by Agnelli's grandson, Giovanni Agnelli II, who became a senior vice-president.

Once the Allied effort to rebuild postwar Europe was under way, Vittorio Valletta applied to the U.S. government for a loan to renovate and modernize company facilities. He reasoned that Fiat was crucial to Italy's recovery and should therefore be entitled to special help. Well aware of the political benefits of a strong Italy, the Americans granted Fiat a US$10 million, six-month revolving loan. Other loans soon followed, and the company was back in business, gearing up for full production ahead of most of its West European competitors. By 1948, Fiat's holdings represented 6 percent of Italy's industrial capital.

But fewer people were able to buy cars than before the war, and Fiat, like other car manufacturers, felt the effects of a smaller market. In response, to reduce its production costs substantially, Fiat built a plant for its 600 and 1300 models in Yugoslavia that was able to produce about 40,000 automobiles yearly. Other foreign expansion followed rapidly. Additionally, the company managed to secure a lucrative manufacturing contract from NATO.

Fiat's foreign forays were a mixed blessing; its Italian workers began to fear for their jobs and worker agitation became a severe problem. On a few occasions Vittorio Valletta was held prisoner in Communist-led worker uprisings in Turin. The political situation did not cease until the mid-1950s when the U.S. government tied an anti-communist clause to its US$50 million offshore procurement contracts with Fiat. This resulted in the firing, relocation, and political reeducation of many Fiat employees, as well as improvements in the company's already elaborate (by U.S. standards) social welfare program. The Italian workers formed three unions, the largest of which cooperated closely with company management.

Vittorio Valletta spent US$800 million in expansion and modernization in the 15 years following World War II and built the most impressive steelworks in Italy. By 1959, Fiat sales reached US$644 million, representing one-third of its country's mechanical production and one-tenth of its total industrial output. The price of Fiat's stock quintupled between 1958 and 1960; even so, Fiat did not reduce the relative price of its cars.

Still running the company in 1960 at the age of 76, Vittorio Valletta was a keen supporter of Italy's membership in the European Economic Community (EEC). He was sure that Italian companies were strong enough to survive direct competition from the other five members. Fiat itself had the advantage of a highly trained staff, the swiftest production lines in Europe, and listed assets of US$1.25 billion. But Italy's organization of manufacturers, Confindustria, opposed EEC membership, believing that France and Germany would quickly dominate the market. Nevertheless, by the end of the first year of membership, Italian companies made 283 deals with companies in other EEC countries; the only deal involving the giant Fiat was a sales arrangement with the French automaker Simca.

Vittorio Valletta's confidence in his company's competitiveness within the EEC was seriously questioned when, in 1961, intra-community tariffs were lowered and import quotas were dropped. At the same time, American automakers such as General Motors, Ford, and Chrysler were significantly expanding their European operations. It quickly became apparent that Fiat had underestimated the potential sales of foreign-made cars in Italy. Unwilling to wait months for delivery of a Fiat, or simply tired of its models, Italians were more than ready to consider the increasing array of foreign vehicles. Moreover, Fiat misjudged its domestic market and failed to introduce a model that might appeal to the many Italians moving from the lower- to the middle-income bracket. In three years, from 1960 to 1963, Fiat's domestic sales dropped a massive 20 percent, from 83 to 63 percent.

The company filled the gap in its product line with its 850 sedan, and by 1965, Italian car imports had dropped to 11 percent. But part of the revival in Fiat's domestic sales was effected by less positive means: the company launched a vigorous campaign against car imports enlisting the aid of its newspaper, La Stampa. This campaign was aided and abetted by the Italian government, which angered car-exporting countries by imposing a supposedly nondiscriminatory anti-inflation tax on automobiles.

Meanwhile, Fiat's exports improved and sales to underdeveloped nations flourished. In addition to its assembly plants in Germany and Austria, the company built plants in numerous other countries, including India, Morocco, Egypt, South Africa, Spain, and Argentina. Fiat also signed an agreement with the Soviet Union in 1965 for a facility capable of producing 600,000 units a year by 1970.

After running Fiat for 21 years, Vittorio Valletta was succeeded in 1966 by Giovanni Agnelli II, the founder's grandson. Under Agnelli's leadership, the company's annual sales came close to US$2 billion by 1968, and for a short time Fiat edged out Volkswagen as the world's fourth largest automaker. At that time, Fiat's cooperative arrangement with the French carmaker Citroen made it the world's sixth largest non-American firm; the company operated 30 plants and employed 150,000 workers. Giovanni Agnelli II candidly credited Fiat's success to the company's near monopoly of its domestic market for half a century, but he warned that more sophisticated production methods were required if Fiat was to survive in the international market. He imposed a schedule for new models of two years from drawing board to assembly line and standardized many car parts to allow more interchange between models.

Giovanni Agnelli II also sought to further diversify Fiat's products to lessen its dependence on autos and trucks, which accounted for 86 percent of its revenue. At the same time, he set about improving the company's flagging sales performance in underdeveloped countries, and in 1969 he made two notable acquisitions. Fiat took full control of the Italian car manufacturer Lancia and announced a merger with Ferrari, the famous Italian racing car company. When Ferrari's problems had surfaced in 1962, owner Enzo Ferrari had turned down the Ford Motor Company,but accepted financial backing from Fiat. Further losses forced Ferrari to sell, and his company was reconstructed as Fiat's Racing Car division.

While the Ferrari and Lancia acquisitions were good for Fiat's image both at home and abroad, its domestic situation worsened. The company had to contend with Italy's 7.3 percent inflation rate and a series of strikes; 1972 production fell short by 200,000 vehicles. For the first time in its history, Fiat failed to show a profit or pay an interim dividend. Fortunately, news from abroad was good. Agnelli's younger brother, Umberto Agnelli, who had doubled sales at Fiat France in 1965 to 1970 and constructed successful plants in Argentina and Poland, had gone on to direct American sales. The number of Fiats sold there doubled between 1970 and 1972 and Fiat cars became the fourth largest selling import in the United States. Umberto returned to Italy as second-in-command to help his brother with the pressing problems at home.

However, Fiat's domestic fortunes deteriorated to the point where the company seemed a likely candidate for partial state ownership. In 1973, Fiat slipped US$30 million into the red, and after a three-month strike in 1974, Italy's Socialist Labor minister granted the union a monthly pay increase significantly higher than Fiat's final offer. Amidst Fiat's loud protests, the government also imposed ceilings on the prices the company could charge for its automobiles--and this at a time when sales were down 45 percent because of worldwide apprehension over the energy crisis. Finally, it seemed, the days of government protection for Fiat were over; the politicians now had to listen to their constituents, many of whom, at that time, viewed the industrial bosses as enemies of the people. Fiat's case was not helped by the Agnelli brothers' refusal to reveal the value of IFI, the family-owned holding company whose funds--in Swiss banks--were beyond Italian government scrutiny.

However, Fiat's foreign holdings continued to offset its severe troubles on the home front, and the company thrived in the less saturated markets of Eastern Europe, Turkey, and South America. Its largest overseas investment was an US$86 million plant in Brazil, which became operational in 1976. Other foreign ventures included a project with the American Allis Chalmers company, an important manufacturer of earth-moving equipment with units in the United States, Italy, and Brazil, and under an arrangement with Colonel Khadafi in 1976, Libya acquired a 10 percent interest in Fiat. This purchase cost Moammar Khadafi US$415 million, and Fiat shares immediately rocketed on the Milan Exchange. Since Libya paid almost three times the market price, serious questions were raised about Khadafi's long-term motives. But Fiat had no such qualms; Khadafi's purchase eased its cash flow at a time when the company earned less than US$200,000 on sales of about US$4 million and had dipped into reserves in order to pay shareholders.

Meanwhile, the company's domestic woes continued. In 1974, with a heavy backlog of unsold cars to keep it going, Fiat fired all of its Italian workers with violent records. A year later, the company laid off a massive 15 percent of its Italian work force and was able to weather the ensuing strike.

Fiat's management was convinced that it could beat its powerful competitors by producing cars at the lowest-possible price. Through its subsidiary Comau, a leader in the automation field, Fiat retooled and partially robotized its factories and standardized yet more Fiat car parts. The assembly robots provided the company with much greater flexibility on production lines, since the machines could easily be programmed to perform a variety of tasks on a variety of models. Further worker layoffs were justified by Fiat by the rise in production rates. The annual output per worker in 1979 was 14.8 units; in 1983 the output was up to 25 units per worker.

Fiat's bold and successful moves to modernize were matched by major changes abroad. The company entirely removed itself from the U.S. market, choosing not to compete against General Motors, Ford, Chrysler, and Japanese imports. In South America, the company closed operations in Uruguay, Chile, Colombia, and Argentina, retaining only its facility in Brazil. Fiat's international operations were also brought under the aegis of a new holding company, the Fiat Group.

Although it had retreated from several large international markets, conceding in part its role as an export-oriented company, Fiat had led the way in Europe toward factory automation during the early 1980s, a move that several of Europe's other volume carmakers--Volkswagen, General Motors, Renault, Peugeot--copied. In 1986, Fiat purchased Alfa Romeo, paying state-owned Finmeccanica US$1.75 billion to acquire the luxury car manufacturer. The following year, the first Alfa Romeo car, the 164, to appear under Fiat ownership made its debut, selling strongly in Italy but recording disappointing sales elsewhere. The dismal sales performance of the 164 was the first of many difficulties Fiat would experience with Alfa Romeo, as sales and production volume dipped throughout the remainder of the 1980s and into the early 1990s. By 1993, the number of cars manufactured under the Alfa Romeo name had slipped to slightly over 100,000, roughly the same number produced in 1970 and considerably less than the number of cars manufactured before Fiat's takeover.

In 1989, Fiat acquired part of another luxury car manufacturer, paying US$120 million for a 49 percent interest in Maserati SpA, then four years later purchased the remaining 51 percent from De Tomaso Industries for US$51.2 million. The addition of Alfa Romeo and Maserati to Fiat's automobile operations broadened the company's collection of automobile lines, bringing two luxury brand names to the company's established Ferrari, Innocenti, and Lancia-Autobianchi models. Despite the less-than-robust sales performance of Fiat's Alfa Romeo unit, annual sales grew prodigiously throughout the latter half of the 1980s, more than doubling between 1985, a year in which merger discussions with Ford Motor Company collapsed, and 1990. Fiat's ability to generate additional income from the increase in its revenues also met with considerable success, providing resounding evidence that the company had recovered from the financial malaise that characterized its operations during the early 1980s. In 1981, Fiat's income as a percentage of sales was a miserable 0.4 percent; by 1986 the company was realizing 7.2 percent of its annual sales as profit and its pioneering move into factory automation appeared to be paying dividends.

In 1990, however, Fiat's growth came to a stop. A global recession that crippled the economies of many countries hit the European car market particularly hard, exacerbating the traditional problems--high labor costs and industry overcapacity--that plagued European carmakers. Fiat's profits plummeted 51 percent in 1990, and its income as a percentage of sales slipped to 2.8 percent. The recession continued to hamper sales throughout the early 1990s as Fiat struggled to withstand the debilitative effects of the dwindling demand for automobiles. By the mid-1990s, the European car market was showing some signs of recovery but continued to be stifled by depressed economic conditions, inhibiting Fiat's ability to reap the rewards that, under more favorable conditions, would be derived from its enviable share of the European car market.

In an effort to expand its global productivity, Fiat developed new automobile models designed for a broader and more competitive market. The result of this strategy was the introduction in 1993 of the Punto, an intermediate car designed specifically to meet the needs of European drivers. In 2000, Fiat entered into an alliance with General Motors, which created joint ventures in purchasing and power-train production. Following this agreement, Fiat Auto Holdings BV was created and became Fiat's main automotive sector, including automobile and light commercial vehicles, with the exception of Ferrari and Maserati.

In further attempts toward diversification, Fiat continued to make their other products more marketable. Agricultural and construction products made way for aviation equipment, commercial vehicles and production systems. Innovations in the mass transit area produced light transport vans and quarry and construction vehicles, as well as long-distance highway trucks. Although active in the railroad industry from its early beginnings, in 2000, Fiat sold its railroad activities to Alstom.

The year 2000 witnessed the development of Fiat's ten operating sectors: Automobiles, Agricultural and Construction, Machinery, Commercial Vehicles, Metallurgical Products, Components, Production Systems, Aviation Publishing and Communications, Insurance and Services. The Agricultural sector, under the auspices of CNH Global in 1999, acquired New Holland NV and American Case Corporation, and excelled in the production of tractors, harvesting and baling equipment, and loaders. Growth in this sector remained positive in 2001 due to a favorable dollar conversion rate and strong demand for farm equipment in North America.

Iveco (Industrial Vehicles Corporation), the Commercial Vehicles sector of Fiat, came about in 1974 as the result of an agreement between Fiat and Germany's Klockner-Humboldt-Deutz. This sector has been active in the transport industry, producing light to heavy commercial vehicles. Assisting in the developing momentum in this sector, the EuroCargo Tector (intermediate vehicle) was introduced in September 2000. In the following year Iveco acquired a 50 percent share in Irisbus from Renault and began establishing markets in South America, Eastern Europe, and Asia.

Teksid, headed up the Metallurgical Products sector with headquarters in Avigliana, near Turin. This sector specialized in the production of metal components for the automotive industry, including cast iron, aluminum and magnesium, and established Fiat as the world leader in the production of engine blocks (cast iron), cylinder heads (aluminum), and instrument panels (magnesium). New plants during 2001 were in various stages of development in Sylacauga, Alabama in the United States; Hua Dong, China; Mexico; and Strathroy, Canada.

Magneti Marelli, created in 1919, designed, developed, and produced high-tech automotive components, systems and modules. In 2000 this sector established itself as the world leader in the field of car lights, second in Europe for instrument panels, and third for petrol injections systems.

The Production Systems sector, or Comau, began machine tool production in 1935, and continued to expand its product range. In 1999, Fiat acquired Pico (American bodyworks systems) and Renault Automation and Sciaky, strengthening its position as a major supplier. New branches were established in Australia, China, Romania, and Germany.

FiatAvio, the Aviation sector, began in 1908 and continued in 2001 to develop, produce, and distribute components and systems for airplanes and helicopter engines, as well as assemble turbines for marine propulsion. It produced propulsion systems for launchers and satellites in space operations, and was the world leader in power transmission technology for aircraft engines. It participated in programs with General Electric, Pratt & Whitney, and Rolls-Royce.

The Fiat Group created Editrice La Stampa in 1926 to publish Turin's daily newspaper, La Stampa Itedi. Italiana Edizioni SpA was created in 1980 to further develop Fiat's Publishing and Communications sectors through a single entity. In 1999 an Internet portal was created in partnership with CiaoWeb (www.ciaonordovest.it).

In 1998, the Fiat Group created Toro Targa Assicurazioni as part of a joint venture with Targa Services to distribute insurance products through the Fiat car dealer network. Toro Assicurazioni, created in 1833, remained one of the largest insurance groups in Italy.

The Business Solutions sector was created in 2000 and grouped together service companies operating in the field of shared services for businesses, especially information technology. Global Value was launched in 2001, the result of a joint venture with IBM to manage technological infrastructure and software applications.

In 2001, Fiat operated in 61 countries; ran 242 manufacturing plants and 131 research and development centers. Forty-six percent of their production was generated outside Italy; exports accounted for over 67 percent of total sales. The success of Fiat's globalization strategy continues to depend on diversification. A presence in markets around the globe will be an integral part of the group's strategy as it focuses not only in its present markets, but also on emerging countries such as India, China, Brazil, and Argentina. According to a press release delivered by the Group in February 2002, "In order to operate with greater agility and flexibility in this challenging environment, the Group is implementing decisive measures throughout its industrial organization, from the redefinition of its processes, to the structural reduction of its inventories, from the restructuring and streamlining of its manufacturing facilities to the reorganization of the entire Automobile Sector." Fiat which began as one of the founders of the European motor industry, will continue to follow its original growth strategy--penetration of foreign markets and focus on innovation.

Principal Subsidiaries

Bioengineering International BV; Business Solutions SpA; CNH Global NV; Comau Pico Holding Corp.; Comau Service SpA; Comau System SpA; Deutsch Fiat GmbH; Ferrari SpA; Fiat Acquisition Corporation; Fiat-Allis BV; Fiat Automoveis, s.a.; Fiat Auto SpA; FiatAvio SpA; Fiat Concord SA; Fiat do Brazil SA; Fiat Financing Holding BV; Fiat France SA; Fiat USA, Inc.; IHF SA; Itedi SpA; Iveco N.V.; Magneti Marelli SpA; Maserati SpA; Teksid S.p.A.; Toro Assicurazioni SpA.

Principal Competitors

BMW; The Ford Motor Company; Volkswagen.

Further Reading

Biagi, Enzo, Il signor Fiat: Una biografia, Milan: Rizzolii, 1976.

Castronovo, Valerio, Giovanni Agnelli: La Fiat dal 1899 al 1945, Turin: Einaudii, 1977.

"Fiat Auto Buys All of Maserati," Automotive News, May 24, 1993, p. 2.

"Fiat Performs CPR to Revive Alfa Romeo," Automotive News, May 16, 1994, p. 26.

"Honorary Chairman Says Fiat Betting on Growth of Auto Sector," Xinhua News Agency, April 29, 2002, p. 1008119.

Kurylko, Diane T., "Mercedes, Fiat Discuss Joint Venture," Automotive News, April 18, 1994, p. 45.

"Who'll Take Over from the Patriarchs?" Business Week, May 13, 2002, Is. 3,782, p. 60.

Wielgat, Andrea, "Fiat Optimistic about Sales," Automotive Industries, April 2002, Vol. 182, Is. 4, p. 4.

— Updates: Jeffrey L. Covell, Carol D. Beavers


Britannica Concise Encyclopedia: Fiat SpA
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International holding company and major Italian manufacturer of automobiles, trucks, and industrial vehicles and components. In 1899 Giovanni Agnelli (1866 – 1945) founded the firm that was incorporated as Fiat in 1906; he led the firm until his death. His grandson Giovanni Agnelli (1921 – 2003) served as chairman from 1966 until 1996, when his title became honorary. Paulo Fresco was named chairman in 1998. In 1979 the corporation converted to a holding company; in 1986 it acquired the sports-car manufacturer Alfa Romeo SpA. Among its automobile brands are Ferrari and Lancia.

For more information on Fiat SpA, visit Britannica.com.

Modern Design Dictionary: Fiat
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(established 1899)

Founded in Turin by Govanni Agnelli in 1899, the Italian Fiat (Fabbrica Italiana Automobili Torino) company grew to become Europe's leading automobile manufacturer. For much of its existence the company has been involved with the volume production of cars, commencing with the Tipo Zero of 1912, and was heavily influenced by Fordist approaches to mass production. The First World War increased demand for the company's products and in 1919 the company began work on a new factory at Lingotto designed by Giovanni Matteo-Trucco with its almost Futurist test track on the roof. Although luxury and racing cars were a significant feature of Fiat's profile in its earlier years the company increasingly sought to cater for a larger market sector. Designs such as the 508 Balilla saloon of 1932 and the affordable, small Fiat 500 of 1936, popularly known as the Topolino (Mickey Mouse), designed by the engineer Dante Giacosa, reflected such an outlook. It also hired stylists such as Bertone and Pininfarina to work on designs such as the streamlined Fiat 1500 of 1935 and established a new factory at Mirafiore in 1939 to cope with increased demand for the company's products. After the Second World War the company's rapid growth was an integral part of Italy's ‘Economic Miracle’, accompanied by a number of innovative small cars for the urban environment, the rear-engined Fiat 600 of 1955 and the Nuova 500 of 1957 designed by Giacosa. This tradition of compact cars has been a constant thread of Fiat's production, other notable stylish yet practical designs being the 1980 Panda, the 1983 Uno, and the 1993 Punto designed by Giorgietto Giugaro, who had first worked for Fiat at the company's Centro Stile, established in the mid-1950s with Felice Mario Boano and his son Gian Paolo. Throughout its history of growth and development the company made many acquisitions, including Lancia and Ferrari in 1969 and Alfa Romeo in 1987.

Wikipedia: Fiat
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This article is about the Italian company. For other uses, see Fiat (disambiguation).

Coordinates: 45°01′57″N 7°40′02″E / 45.03241°N 7.667255°E / 45.03241; 7.667255

Fiat S.p.A.
Type Public (BIT: F, Pink Sheets: FIATY (ADR))
Founded 11 July 1899 in Turin, Italy
Founder(s) Giovanni Agnelli
Headquarters Turin, Italy
Key people Sergio Marchionne (CEO)
Luca Cordero di Montezemolo (Chairman)
John Elkann (Vice Chairman)
Industry Automotive, publishing, finance and metallurgy
Products Autos, Trucks, vehicular equipment and financial services
Revenue ▲ €59.4 billion (2008)[1]
Net income ▲ €1.721 billion (2008)[1]
Employees 200,701 (2008)[2]
Subsidiaries Automobiles:
Ferrari S.p.A.
Maserati S.p.A.
Fiat Group Automobiles S.p.A.: Agricultural and construction equipment: Commercial vehicles: Components and production systems: Other business:
Website FiatGroup.com

Fiat S.p.A., an acronym for Fabbrica Italiana Automobili Torino[3] (English: Italian Automobile Factory of Turin), is an Italian automobile manufacturer, engine manufacturer, financial and industrial group based in Turin in the Piedmont region. Fiat was founded in 1899 by a group of investors including Giovanni Agnelli. Fiat has also manufactured railroad vehicles, tanks and aircrafts. As of 2009, Fiat is the world's 6th largest carmaker as well as Italy's largest carmaker.[4]

Fiat-based cars are constructed all around the world, with the largest number produced outside Italy being built in Brazil (best seller[5]). It also has factories in Argentina and Poland. Fiat has a long history of licensing its products to other countries regardless of local political or cultural persuasion. Joint venture operations are found in Italy, France, Turkey, India, Serbia and Russia.

Agnelli's grandson Gianni Agnelli was Fiat chairman from 1966 until his death on 24 January 2003; from 1996, though, he only served as an "honorary" chairman, while Cesare Romiti served as chairman. After their removal, Paolo Fresco served as chairman and Paolo Cantarella as CEO. Umberto Agnelli then took over as chairman from 2002 to 2004. After Umberto Agnelli's death on 28 May 2004, Luca Cordero di Montezemolo was named chairman, but Agnelli heir John Elkann became vice chairman at age 28 and other family members are on the board. At this point, CEO Giuseppe Morchio immediately offered his resignation. Sergio Marchionne was named to replace him on 1 June 2004.

Contents

Activities

Fiat Group revenues by sector in 2007

The 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.

Automotive

For Fiat branded cars see Fiat Automobiles

Global locations of Fiat Group automobile production sites. (Including own plants, joint ventures and license production)
Fiat 500
Lancia Delta
Alfa Romeo 159
Maserati GranTurismo
Ferrari California

Fiat Group is the largest vehicle manufacturer in Italy, with a range of cars starting from small Fiat city cars to sports cars made by Ferrari, and vans and trucks ranging from the Ducato to Iveco commercial trucks. Besides Fiat Group Automobiles S.p.A, the Fiat Group automotive companies include Ferrari S.p.A., Iveco S.p.A. and Maserati 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 Professional and Lancia Automobiles S.p.A.. Ferrari S.p.A. is 85% owned by the Fiat Group, but is run autonomously.

The European Car of the Year award, Europe's premier automotive trophy for the past 40 years, has been awarded twelve times to the Fiat Group, more than any other manufacturer. Most recently the Fiat Nuova 500 has won the award for European Car of the Year 2008.[6]

List of Fiat Group models which have won European Car of the Year:

Agricultural and construction equipment

Fiat Group owns CNH Global (which includes Case Construction, Case IH, Flexi-Coil, Kobelco, New Holland, New Holland Construction, and Steyr); and Fiat-Hitachi Construction. CNH is the second largest agricultural equipment manufacturer in the world after Deere & Company. It is also the third largest producer of construction equipment after Caterpillar Inc. and Komatsu. CNH accounts for around 20% of revenues.[7]

Commercial vehicles

Commercial vehicles (Iveco and Seddon Atkinson), buses (Iveco and Irisbus) and firefighting vehicles (Camiva, Iveco and Magirus). For information on their military vehicles, see Ariete.On 17 April 2007 "Fiat Veicoli Commerciali" was rebranded as "Fiat Professional".[8] Some of Fiat's Light Commercial Vehicle products include; Fiat Ducato, Fiat Scudo and Fiat Doblò Cargo. See Fiat Professional for more details on Fiat Commercial Vehicle Products.

Motorcycles and aeronautics

In 1959, Piaggio came under the control of the Agnelli family. Resultantly, in 1964 the aeronautical and motorcycle divisions split to become independent companies; the aeronautical division was named IAM Rinaldo Piaggio. Today the aeronautical company Piaggio Aero is controlled by the family of Piero Ferrari, which also still hold 10% of the carmaker Ferrari.

Vespa thrived until 1992, when Giovanni Alberto Agnelli became CEO — but Agnelli was already suffering from cancer, and died in 1997. In 1999, Morgan Grenfell Private Equity acquired Piaggio .

Fiat G91T training aircraft

Fiat Aviazione

Main article: Fiat Aviazione

Fiat itself was an important aircraft manufacturer, focused mainly on military aviation. After World War I, Fiat consolidated several Italian small aircraft manufacturers, like Pomilio and Ansaldo. Most famous were Fiat biplane fighter aircraft of the 1930s, Fiat CR.32 and Fiat CR.42. Other notable designs were fighters CR.20, G.50, G.55 and a bomber, the Fiat BR.20. In 1950s, the company designed the G.91 light ground attack plane. In 1969, Fiat Aviazione merged with Aerfer to create Aeritalia.

Components

The major Italian component maker Magneti Marelli is owned by Fiat, and in turn owns the other brands Carello, Automotive Lighting, Siem, Cofap, Jaeger, Solex, Veglia Borletti, Vitaloni, and Weber; other accessory brands include Riv-Skf and Brazilian Cofap.

Metallurgical products

Production systems

Production systems are made mainly through Comau 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 most automated and advanced in the world.

Services

An important 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 company Assicurazioni Generali and now is not related to the Fiat Group anymore. Fiat still retains control of Augusta assicurazioni

Construction

Ingest 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 technology

Fiat Group is present in IT fields and in communications with ICT — Information & Communication Technology, Espin, Global Value, TeleClient, and Atlanet.

Leisure

The Fiat group owned the Sestriere skiing facilities (The village in the Alps is a creation of Agnelli family). The Sestriere skiing facilities was sold by the group in 2006.

Publishing and communication

Fiat group also owns important editorial brands, like La Stampa (created in 1926 for the famous newspaper), Itedi, and Italiana Edizioni. Some national and local newspapers are owned or otherwise controlled by the different companies. A specialised advertising space reseller is Publikompass, supported by the Consorzio Fiat Media Center.

Other activities

Fiat 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 the Fondazione Giovanni Agnelli, an important foundation for social and economic research. Palazzo Grassi, a famous ancient building in Venice, now a museum and formerly supported by Fiat, was eventually sold to the french businessman François Pinault in January 2005.

Fiat has recently begun sponsoring the Jamaican bobsledding team and promoting this sponsorship through commercials. Many like Jamaican athletes because they see them as underdogs and as people who enjoy life. While Volvo sponsors golf, Mercedes tennis, and Hyundai soccer, Fiat is trying to look unique and more light-hearted. Further, the team is relatively cheap to sponsor.[9]

The group is present in many countries, not only in the West. Notably, it was one of the first companies to build factories in Soviet territory, with the best known examples in Vladivostok, Kiev and Togliatti. The Russian government later continued the joint venture under the name AutoVAZ (known as Lada outside the former USSR). The venture was most notable for the Lada Riva. Fiat also has a subsidiary in Poland at Tychy, (formerly called FSM) where Fiat's small cars (the 126, Cinquecento and now Seicento) are made. Fiat also has factories in Argentina, Brazil, and Italy. In addition, its cars are produced through licensing and joint-venture agreements in China, Egypt, France, India, South Africa, Turkey, and Vietnam.[10] Local variants of Fiats are produced at these factories as well as a world car, the Palio. As of 2005, the company holds the first position in the Brazilian automobile market with a market share close to 25%.

Fiat has articulated that it wishes to focus on expanding into third-world markets because, in the words of former chairman Paolo Fresco, "those are the only markets where you can expect growth.[10] And it is true that Fiat's specialization in smaller cars puts it at an advantage in those markets, but cars sold in third-world countries tend to be much simpler than those sold elsewhere (e.g., most lack air conditioning), and thus require much less money to develop.

Fiat is also present in the combat vehicle sector through a consortium between Iveco and OTO Melara, their most notable product being the LAV B1 Centauro.

Evolution

Fiat 3 ½ CV (1899)

Giovanni Agnelli founded Fiat in 1899 with several investors and led the company until his death in 1945, while Vittorio Valletta administered the day-to-day activities of the company. Its first car the 3 ½ CV (of which only eight copies were built, all bodied by Alessio of Turin)[11] strongly resembled contemporary Benz,[12] and had a 697 cc (42.5 cu in) boxer twin engine.[12] In 1903, Fiat produced its first truck.[13] In 1908, the first Fiat was exported to the US.[13] That same year, the first Fiat aircraft engine was produced. Also around the same time, Fiat taxis became somewhat popular in Europe.[14] By 1910, Fiat was the largest automotive company in Italy — a position it has retained since. That same year, a plant licensed to produce Fiats in Poughkeepsie, NY, made its first car. This was before the introduction of Ford's assembly line in 1913. Owning a Fiat at that time was a sign of distinction. A Fiat sold in the U.S. cost between $3,600 and $8,600, compared to US$825 the Model T in 1908.[citation needed]

Upon the entry of the U.S. into World War I in 1917, the factory was shut down as U.S. regulations became too burdensome. At the same time, Fiat had to devote all of its factories to supplying the Allies with aircraft, engines, machine guns, trucks, and ambulances. After the war, Fiat introduced its first tractor, the 702.[15] By the early 1920s, Fiat had a market share in Italy of 80%.[16]

Corso Dante plant
Lingotto factory (1928)
Mirafiori plant
Lingotto factory (today)

In 1921, workers seized Fiat's plants and hoisted the red flag of communism over them. Agnelli responded by quitting the company. However, the Italian Socialist Party and its ally organization, the General Confederation of Labor, in an effort to effect a compromise with the centrist parties ordered the occupation ended. In 1922, Fiat began to build the famous Lingotto car factory — the largest in Europe up to that time — which opened in 1923. It was the first Fiat factory to use assembly lines; by 1925, Fiat controlled 87% of the Italian car market.[17] In 1928, with the 509, Fiat included insurance in the purchase price.[18]

Fiat made military machinery and vehicles during World War II for the Army and Regia Aeronautica and later for the Germans. Fiat made obsolete fighter aircraft like the biplane CR.42, which was one of the most common Italian aircraft, along with Savoia-Marchettis, as well as light tanks (obsolete compared to their German and Soviet counterparts) and armoured vehicles. The best Fiat aircraft was the G.55 fighter, which arrived too late and in too limited numbers. In 1945 — the year Mussolini was overthrown — the Italian Committee of National Liberation removed 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

Among 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 almost no provision for the delegation of authority and decision-making power. Such a system had worked effectively enough in the past but lacked the responsiveness and flexibility made necessary 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 groups — one for passenger cars, the other for trucks and tractors — and 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 purchased Autobianchi; with sales amounting to $1.7 billion, it outstripped Volkswagen, its main European competitor, and in 1968 produced some 1,750,000 vehicles while its sales volume climbed to $2.1 billion. According to Newsweek in 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 a conglomerate, owning Alitalia, 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 the AvtoVAZ plant in the new city of Togliattigrad on the Volga. This began operation in 1970, producing a local version of the Fiat 124 as the Lada. On his initiative, Fiat automobile and truck plants were also constructed in industrial centers of Yugoslavia, Poland, Bulgaria, and Romania. 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 United States, corresponding to the Iranian Oil Crisis. However, when gas prices fell again after 1981, Americans began purchasing sport utility vehicles, minivans, and pickup trucks in 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 owned by Libya, an investment dating back to the mid-seventies. U.S. 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.[19] A year later, Fiat acquired Maserati. In 1995 Alfa Romeo exited the U.S. market. Maserati re-entered the U.S. market under Fiat in 2002. Since then, Maserati sales there have been increasing briskly.

Paolo Fresco

Paolo Fresco became chairman of Fiat in 1998 with the hope that the veteran of General Electric would 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, Managing Director 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 fact, many speculated the main reason he was chosen for the job was to sell Fiat Auto (although Fresco fervently denied it).[citation needed] In 1999, Fiat formed CNH Global by merging New Holland NV and Case Corporation.

Recent events

Partnership with GM

Over time, most automotive companies around the world have become holding companies of foreign as well as domestic competitors. For example, General Motors owned a controlling interest in Saab Automobile and, until recently, in Isuzu. Fresco signed a joint-venture agreement in 2000 under which GM acquired a stake in Fiat Auto. This made it appear as if Fiat was next, although GM has made joint ventures with other companies (such as Toyota) without acquiring them. Nevertheless, Fiat did not see the GM partnership as a threat, rather as an opportunity to off-load its automotive business. The agreement with GM included a put option, which held that Fiat would have the right to sell GM its auto division after four years at fair market value. If GM balked, it would be forced to pay a penalty of $2 billion. When Fiat tried to sell GM the company, GM chose the penalty. On 13 May 2005 GM and Fiat officially dissolved their agreement.

The current CEO however views alliances such as these as the deciding factor of the future success of Fiat. In 2005 Fiat was courting Ford.[20] In more recent events Fiat is in the process of acquiring 20% of Chrysler (with possibilities of increasing this share) and has expressed an interest in acquiring GM Europe (Opel and Vauxhall).

As part of the recent divestitures, 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.

Fiat faces a multitude of threats, including rising steel prices (up by 16-30% beginning of 2008),[21] a strong Euro, and increased competition from Japanese and South Korean car manufacturers in Europe. Although the light-vehicle market share of Japanese and South Korean automakers in Europe is less than in the U.S. (12.5% and 3.9%, respectively versus 30% and 3.9% in the US), it has been increasing steadily at about a half a percent a year.[citation needed]

Search Wikinews Wikinews has related news: New Zealand diplomats: Fiat using Maori haka in television ad is insensitive

Fiat has drawn criticism within New Zealand for an advertisement it ran in Italy, which a New Zealand Ministry of Foreign Affairs and Trade spokesman described as "culturally insensitive and inappropriate". The advert showed women performing the haka beside the new Fiat car and crowd noise is in the background to simulate the atmosphere in an All Blacks rugby union match. As the haka is finished a woman drives away in the Fiat car and a boy in the back of the car pokes out his tongue, which is the action used to finish the haka.

Potential Takeover of GM Europe
Main article: New GM Europe

In April and May 2009, the possibility of a take over of GM Europe, a subsidiary of General Motors, was being discussed between the two companies. GM Europe owns Opel/Vauxhall and Saab, and, if the deal is successful, will make Fiat the second largest automobile manufacturer in the world, behind Toyota[citation needed].

On May 30, 2009, German officials named [Magna] International, an Austro-Canadian car parts manufacturer, to take over Opel. The Opel/Vauxhall partnership is the largest of GM Europe's operations.[22]

Sergio Marchionne

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Fiat 500

Sergio Marchionne has impressed investors since taking over as CEO in June, 2004.[23] Losses have fallen steadily since 2002, and Q4 of FY2005 saw its first profit in 17 quarters, and had a profit of €196M for the first 9 months of FY2006.[24] Mr. Marchionne has reduced Fiat's managerial bureaucracy and changed its tone to a focus on markets and profit. While the chairman, Luca di Montezemolo, dealt with politicians and unions, Marchionne rebuilt the car business. The success of the Grande Punto model has in large part been responsible for the turnaround in Fiat's fortunes, but the quite successful Bravo (successor to the Stilo) and the award winning 500 have really cemented it. Fiat has formed a joint venture with India's TATA Motors and China's Chery motors. Under Marchionne it has also re-entered several large markets that it had exited years before, such as Mexico and Australia. Marchionne has recently confirmed that Fiat plans to return to the United States market by 2010 with the new 500.[25]

Partnership with Chrysler

Search Wikinews Wikinews has related news: GM and Chrysler receive Canadian loans amid US restructuring ultimata

On 20 January 2009, Fiat S.p.A. and Chrysler LLC announced that they were going to form a global alliance. Under the terms of the agreement, Fiat would take a 35% stake in Chrysler and gain access to its North American dealer network in exchange for providing Chrysler with the platform to build smaller, more fuel-efficient vehicles in the US and reciprocal access to Fiat's global distribution network.[26][27]

The new equity holder would have the option of increasing that to as much as 55%. Fiat, the stronger of the two, would not immediately put cash into Chrysler. 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 to be sold in the U.S. Fiat would also provide engine and transmission technology to help Chrysler introduce new, fuel-efficient small cars.

Search Wikinews Wikinews has related news: Chrysler files for bankruptcy, Fiat Group SpA to run company

The deal is the latest maneuver by Fiat's chief, Sergio Marchionne, who has pulled the Italian company back from the brink of collapse since taking over in 2004. The partnership would provide each company with economies of scale and geographical reach at a time when both are struggling to compete with larger and more global rivals like Toyota, Volkswagen and the alliance of Renault S.A. and Nissan[26] On April 30, 2009 Fiat announced the alliance with Chrysler,[28] at first Fiat will get 20% stake and it can become the majority owner once the government loans are repaid.[29]

Fiat would not have to pay any money for its 20% of Chrysler. On June 7, 2009, the Indiana State Police Pension Fund, the Indiana Teacher's Retirement Fund, and the state's Major Moves Construction Fund asked the U.S. Supreme Court to delay the sale of Chrysler to Fiat while they challenge the deal. The funds argued that the sale went against U.S. bankruptcy law because it unlawfully rewarded unsecured creditors ahead of secured creditors.[30] On June 9, 2009, the Supreme Court lifted the temporary hold, clearing the way for Fiat to acquire Chrysler.[31] See Indiana State Police Pension Trust v. Chrysler for more information. On Wednesday, June 10, the Supreme Court announced that Fiat was now an owner of the new Chrysler Company a.k.a Chrysler Group LLC. Fiat CEO Sergio Marchionne has been named CEO of the "New" Chrysler, and Jim Press, who has been with Chrysler since 2007, will probably be in charge of day-to-day operations of the company as Deputy CEO when Marchionne is in Italy.

Enterprises outside Italy

See list of Fiat Group assembly sites

Fiat 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. The AutoVAZ state works Lada products in Tolyatti (Togliatti), Russia, were Fiat based, as were SEAT products of Spain. Lada now is controlled by Renault, and SEAT by Volkswagen. A small number of Fiats were also constructed in Bulgaria. Among Fiat's earliest foreign assembly plants was one in Poughkeepsie, New York, between 1910 and 1913. The building is now part of the Marist College campus.

Fiat Automóveis, Brazil

The 1979 Brazilian Fiat 147 was the first modern car to run on pure hydrous ethanol fuel (E100).

Fiat Automóveis s.a., a subsidiary of Fiat S.p.A.,[32] began making automobiles in Brazil in 1976 beginning with the production of the Fiat 147, the Brazilian version of the Italian Fiat 127, produced until 1986. A total of 1,269,312 units were produced in Fiat Automoveïs factory in Betim, plus 232,807 units in the Fiat Argentina plant of Córdoba.[citation needed] This car also were built in the CCA plant in Bogotá, Colombia.

Launched in July 1979, the 147 was the first mass produced car that run on ethanol as fuel instead of petrol.[33][34][35] 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 the 1979 oil crisis. This version was nicknamed cachacinha (little cachaça) because it had the smell of that Brazilian drink.

The Fiat Siena Tetrafuel 1.4 is a multifuel car that runs as a flexible-fuel on pure gasoline, or E20-E25 gasohol, or pure ethanol (E100); or as a bi-fuel with CNG.

In October 1984 Fiat Automóveis introduce the Fiat Uno, as a 1985 model. Currently, the car is sold as the Fiat Mille, as a budget entry-level model, and received its most recent facelift for the 2004 model year. From 1984 until 2006, up to 2,000,000 Fiat Unos were made in Brazil. The production of the world car — the Fiat Palio - began in 1996.[citation needed]

After the successful 2003 introduction of flexible-fuel vehicles in the Brazilian market,[36] Fiat Automóveis launched its first flex model in March 2004, the Fiat Palio, followed by the Siena and Palio Weekend.[37] Fiat sold 665,514 vehicles in Brazil in 2008,[38] allowing the carmaker to continue as the market leader for seven years in a row.[39] Flex fuel automobiles represented almost 100 percent of the car sales in 2008, and 92 percent of all light-duty trucks sold.[40]

In 2006 Fiat introduced the Fiat Siena Tetra fuel, a four-fuel car developed under Magneti Marelli of Fiat Brazil.[41][42] This automobile can run as a flex-fuel on 100% ethanol (E100); or on E20-E25 blend, Brazil's normal ethanol gasoline blend;[43] on pure gasoline (though no longer available in Brazil since 1993,[44][45] it is still used in neighboring countries); or just on natural 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.[46]

Fiat Argentina

Fiat has been present in Argentina since the beginning of 20th century. There was a Fiat manufacturing plant in Córdoba at least as far back as 1954 when Fiat entered into a joint venture with two local companies for the manufacture of tractors. In 1959 the construction of a car plant in Caseros was approved, and 1960 saw the production there of the first Argentinian produced Fiat passenger car, a Fiat 600. By 1978 a car manufacturing facility was well established in Córdoba, producing Fiat 128s as well as two models which from the Italian perspective belonged in earlier decades, the 125 and the 600R.[47] The current day automobile manufacturing started with a new factory opened in Córdoba on December 20 1996.[48] From April 1997 the Siena and Palio models production started.

Production was suspended in the early 2000s as the Argentinean economy went downhill, however in 2008 Fiat invested new money and the production of Fiat Siena saloon was started. The Fiat Auto Argentina S.A. is Fiat S.p.A. owned company.[29]

Zastava, Serbia

Its first enterprise came in 1955, when it agreed a deal with Yugoslav carmaker Zastava to assemble Fiats for Eastern Europe. The first cars to be produced by Zastava were its versions of the Fiat 1300 and Fiat 1400. By 1970, Zastava was producing parts for the newer Fiat 124 and Fiat 125 models, although these cars were actually assembled in Poland. The Zastava 750, launched in 1962, was Zastava's version of the iconic Fiat 600 minicar. It outlived the car on which it was based, with production not finishing until 1981.

Zastavas were not popular outside of Eastern Europe before the 1980s, although they were exported to the United States under the Yugo brand as long ago as 1973.

A UK right-hand drive Zastava 101-based hatchback

The most famous product launched by Zastava is the Zastava 101, a front-wheel drive car based on the Fiat 128, also available as a hatchback version never sold in Italy. Despite numerous bad press about build quality and reliability, it sold well in Yugoslavia thanks largely to its low asking price, cheap maintenance costs and simple mechanical design.

With the demise of the aged Zastava 750 in 1981, the minicar gap in the Zastava range was filled by the Zastava Koral, which was best known in Britain and America as the Yugo Tempo. It was based on the 1971 Fiat 127, which was due to be replaced by the Fiat Uno in 1983. It was among the cheapest cars on sale in both countries, and it was well received in its class in Britain, but not so much in the more competitive U.S. market. But hostility towards Yugoslavia in the wake of the 1992 civil unrest saw a swift ceasure of imports to both Britain and America.

The Zastava factory in Kragujevac was later bombed, but was rebuilt once the war was over, and production continued at another factory in Kragujevac.

In 1987, Zastava came up with a new car design. The Zastava Florida - known in other markets as the Yugo Sana - was styled by Giorgetto Giugiaro at the ItalDesign studio, featured a range of refined Peugeot engines, and was mechanically similar to the forthcoming and highly acclaimed Fiat Tipo. It was sold in Britain from 1988 to 1992, but was withdrawn from sale for a number of reasons — particularly the domestic upheavels in Yugoslavia and the fall in popularity of the whole Yugo range in Britain. 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 2003 Zastava 10 model was another Fiat design — this time the second generation Punto. It boasts similar features to the Punto and other cars in its class such as the Volkswagen Polo. It is competitively priced compared to other similar-sized cars, including the Punto on which it is based.

Four years after its launch, the Zastava 10 has not yet been sold outside of the former Yugoslavia.

According to Fiat sources a new memorandum of understanding between Fiat and the Serb ministry of economic and regional development about the acquisition of Zastava's Kragujevac plant foresees a new company being set up in which the Italians would have a 70 percent stake and the Serb government 30 percent.[49] Several models are to be introduced to the plant once its upgrade is complete, including possibly the Fiat 500 and the new low cost vehicle that Fiat is introducing to compete with Renault's Dacia brand.

Polski Fiat/FSO (Poland)

Fiat automobiles have been made in Poland since 1920. In 1932, the Polskie Zakłady Inżynieryjne (Polish Engineering Works, PZInż) started the production of Fiat 508, produced until 1939 also as a military vehicle. In 1936 the licence was extended to include the Fiat 518 model. In 1965, the Polish communist government signed a deal with Fiat to produce selected Fiat models in Poland at the FSO factory in Warsaw that had been built in 1951. Production of the new car — the Polski Fiat 125p - began in 1967. It was visually identical to the Fiat 125, but it made use of older Fiat mechanicals which dated back to 1960. The car sold very well in its homeland and was soon exported to Western Europe. After 1979, Fiat withdrew control of the FSO factory and since then FSO badge was reinstated. A year earlier, it had appeared on a new five-door hatchback, the FSO Polonez, that made use of Fiat 125 running gear.

The Polski Fiat design survived until 1991, by which time almost 1,500,000 had been made in less than 25 years. It was a cheap competitor for similar Eastern European budget cars, and by the time of its demise, many Eastern European carmakers were adopting modern Western style designs in place of the archaic three-box saloons that had barely moved out of the 1960s.

FSO was taken over by Daewoo of South Korea in 1995, by which time the FSO Polonez had been replaced by the Caro, which was little more than a facelift of the 1978 design with underpinnings dating back to 1960. This car was sold in Western Europe until the end of the 1990s, and production finally finished in 2002.

FSO had become independent again in late 2000, after Daewoo went bankrupt and was taken over by General Motors. Despite this, FSO continued to build versions of the Daewoo Matiz and Daewoo Lanos. These cars remain in production to this day, although the target of the factory is to focus on the production of the Chevrolet Aveo which has already been introduced.

The Fabryka Samochodów Małolitrażowych (FSM) in Bielsko-Biała and Tychy started the output of the Fiat 126(p) in 1983 and the Cinquecento (see Fiat Cinquecento)in 1991 .

In 1992 90% of stock of FSM (Fiat Auto Poland, since 1993) was purchased by Fiat Auto. since then it produced Cinquecento, Uno, Seicento, Siena and Palio Weekend (see Fiat Cinquecento, Fiat Uno, Fiat Seicento, Fiat Siena and Fiat Palio Weekend) models with the capacity up to 200.000 cars a year. In 2003, FSM become the sole producer of Fiat Panda, and in 2007 of new Fiat 500 model. The capacity was increased to ca. 280.000 cars a year, and due to new investments in 2006-2007 will reach over half a million in 2008. This will enable Fiat Auto Poland to include a new model of the Ford Ka, a joint Ford-Fiat project, in its production. It is worth noting both Panda and 500 were selected European car of the year, respectively in 2004 and 2007.[50]

Fiat 500 & 126

Other Fiat investment in Poland is a joint Fiat-GM venture of Powertrain, producing multijet (see JTD engine) car engines both for Fiat and GM models.

AutoVAZ Lada (Soviet Union/Russia)

In 1966, Fiat helped U.S.S.R. state industries build a new car factory (AvtoVAZ) on the banks of the Volga river. A planned city called Tolyatti (named after Palmiro Togliatti, former Italian Communist Party Secretary) was developed around the factory, which started producing a "people's car" similar to the Volkswagen Beetle and Citroën 2CV of Germany and France. The new Soviet car, called the Lada, however, was a more spacious offering, in four-door saloon and five-door estate variants. Fiat installed British-built machine tools supplied by Herbert-BSA[51] of Birmingham for 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 began, and by the early 1980s, the cars began to sell fairly well thanks largely to their low asking price. This car was upgraded to become the Lada Riva (marketing name in some markets) in 1980.

In 1977 the four-wheel drive Lada Niva was introduced which used some proprietary Fiat based components from the car (eg engine and gearbox), but the body and four-wheel drive system were VAZ designs. The Riva and Niva are still in production as of 2008.

In June 2008, Fiat and Severstal's Sollers JSC have formalised a number of joint ventures announced last year to make and sell Fiat cars and engines in Russia. They will make up to 90,000 diesel engines and up to 50,000 Fiat Linea sedans a year. Production was scheduled to begin in 2008.

Bulgaria

1967-1971 produced Pirin-Fiat in Lovech, Bulgaria.

Tofaş, Turkey

Tofaş is joint venture owned by Fiat SpA and Koç Holding (37.8% Fiat Group Automobiles, 37.8% Koc and 24.3% others).[52] The Fiat 124 was produced under licence by Tofaş as the Tofaş Murat. This was replaced by a version of the Fiat 131, known as the Tofaş Şahin. Today the Fiat Linea car 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.[53]

SEAT, Spain

In Spain, SEAT (an acronym) was set up with Fiat assistance, producing Fiat models under its own brand name until 1981, when Fiat withdrew its support. However, production of the Fiat-based models continued, with the final Fiat-based SEAT (the Marbella) not finishing until 1996. By this stage, SEAT had become part of German manufacturer Volkswagen after several years of ownership by the Spanish government.

South Africa

In South Africa, the Fiat Uno was assembled under licence by Nissan, which marketed it through its dealerships as the Uno, with only limited Fiat branding.

Ethiopia

The Fiat 131, known as the Holland Car DOCC.

Helwan, Egypt

Following the Egyptian Revolution of 1952, President Gamal Abdel Nasser ordered the EGID (General Intelligence Agent) to establish a state owned automobile company. Nasr was founded in 1960 in Helwan, Egypt. It began producing some Fiat based models, but later on produced the Tofaş Şahin under license by Tofaş. Until today, both the Fiat 128 and the Şahin are in production in Egypt.

Premier Automobiles, India

Premier Automobiles Limited is a Mumbai-based manufacturer of vehicles founded in 1944. In 1951, the company began producing versions of the Fiat 500 for the Indian market. This was followed by the Fiat 1100 in 1954. In 1973, the Premier name was used on its vehicles for the first time, the Premier President, based on the Fiat 1100 as Premier Padmini. In 1984, they launched the Fiat 124-based Premier 118 and 138D models.

Fiat India Automobiles Private Limited (FIAPL) is a joint venture between Fiat and Tata Motors. It was founded in 1997. Fiat builds the Palio Stile and Palio Stile Multijet in India and imports its Fiat 500 into India from Italy, whereas Fiat has many cars under its hood planned for India like the internationally acclaimed Linea, Grande Punto and Bravo, of which the Linea was released in January 2009 and the Punto in June 2009, both the cars have been well received both by the press and by the public. Bravo will follow in mid 2009. The Fiat plant is situated in Ranjangaon near Pune in Maharashtra and also manufactures the Tata Indica.[54]

Sri Lanka

In 1964-65, the Ceylon Transport Board contemplated production of buses in Sri Lanka in collaboration with FIAT. However, with the change of Government in 1965, the CTB opted for a deal with British Leyland.

In 1973, entrepreneur Upali Wijewardena's Upali Motor Company began assembly of the so-called 'Upali-FIAT' 128. However, production ended with the introduction of the open-market economy in 1978.

North Korea

The North Korean car manufacturer and dealer Pyeonghwa Motors assembles two Fiat models under licence since 2002: Hwiparam - based on the Fiat Siena, Ppeokkugi - based on the Fiat Doblò.

See also

References

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