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S.p.A. Type Public (NYSE: FIA, ISE: IT0001976403) Founded 1899 Headquarters Turin, Italy Key people Luca Cordero di Montezemolo Chairman John Elkann Vice Chairman Sergio Marchionne C.E.O. Industry Automotive, publishing, finance, and metallurgy Products Automobiles, Commercial vehicles :Trucks, Buses, Agricultural and Construction Equipment, Components and Production Systems, Services, La Stampa Revenue €46,544 million (2005) Net income €1,331 million (2005) Employees 220,000 (2005) Subsidiaries CNH Global N.V. Iveco S.p.A. Ferrari S.p.A. Maserati S.p.A. Fiat Group Automobiles S.p.A.: Abarth & C. S.p.A. Alfa Romeo Automobiles S.p.A. Fiat Automobiles S.p.A. Fiat Professional Lancia Automobiles S.p.A. Magneti Marelli Holding S.p.A. Teksid S.p.A. Comau S.p.A. Itedi S.p.A. Fiat Powertrain Technologies S.p.A. Website www.fiatgroup.com Fiat Group, or Fiat S.p.A., is an Italian automobile manufacturer, engine manufacturer, financial and industrial group based in Turin, Northern Italy. Founded in 1899 by a group of investors including Giovanni Agnelli, the company name FIAT is an acronym for Fabbrica Italiana Automobili Torino (Italian Car Factory of Turin), and it also means "let there be" in Latin. Fiat was also an aircraft manufacturer at one time. Fiat branded cars are constructed all around the world; in Italy, Poland, Brazil and Argentina. Joint Venture productions in France, Turkey, Egypt (with the state owned Nasr car company), South Africa, India and China. Agnelli's grandson Gianni Agnelli was Fiat chairman from 1966 until his death on January 24, 2003. However, from 1996, he only served as an "honorary" chairman, while the chairman was Cesare Romiti. 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 May 28, 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 June 1, 2004. Activities FIAT Group Revenues by Industry in 2004 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. Automobiles See list for Fiat branded cars: List of Fiat models since 1899 The new Fiat logo Fiat Group is the largest automobile manufacturer in Italy, with a range of cars including the Fiat Panda, Punto, Stilo, Idea, Croma, Ulysse and Doblò. Car companies are run by Fiat Group Automobiles S.p.A, Ferrari S.p.A. and Maserati S.p.A.. Today automobile group runs well known firms like Lancia Automobiles S.p.A, Alfa Romeo Automobiles S.p.A, Abarth & C. S.p.A., Fiat Automobiles S.p.A, IVECO S.p.A., and Maserati S.p.A.. Ferrari S.p.A. is owned by the Fiat Group, but is run autonomously. Light automobile sales accounted for 46.8% of total revenues during fiscal 2004 (3.2% of which is from Ferrari).2 Fiat Grande Punto The European Car of the Year award, Europe's premier automotive trophy for the past 40 years, has been awarded eleven times to the Fiat Group, more than any other manufacturer. 1967: Fiat 124 1970: Fiat 128 1972: Fiat 127 1980: Lancia Delta 1984: Fiat Uno 1989: Fiat Tipo 1995: Fiat Punto 1996: Fiat Bravo/Brava 1998: Alfa Romeo 156 2001: Alfa Romeo 147 2004: Fiat Panda 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 20.9% of revenues.3 CNH is the most prized company inside Fiat because it has driven growth and is very profitable. It also shows great promise for growth in third-world markets.4 The new Fiat Professional logo 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"22. 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's Light Commercial Vehicle Products. Motorcycles and aeronautics In 1959, Piaggio came under the control of the Agnelli family. Resultantly, as the wider ownership of Fiat in Italian industry, in the 1964 the two divisions (aeronautical and motorcycle) split to become two independent companies; the aeronautical division was named IAM Rinaldo Piaggio. Today the airplane-company Piaggio Aero is controlled by the family of Piero Ferrari, who also still holds 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 itself was an important aircraft manufacturer, focused mainly on military aviation. After the 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 Fiat BR.20. In 1950s it designed G.91 light ground attack plane. Then, in 1969 an aerospace division of Fiat 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 Fiat owns a metal company, Teksid. 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, allows Fiat to control a relevant part of this market (also with minor companies like Lloyd Italico, Augusta Assicurazioni) and to interact with some associated banks. Toro Assicurazioni was acquired by the giant insurance company Assicurazioni Generali and now isn't related to the Fiat Group anymore. 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 group owns the Sestriere skiing facilities (being this village on Alps a creation of Agnelli family). The Sestriere skiing facilities has been 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.5 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-controlled countries, with the best known examples in Vladivostok, Kyiv and Togliattigrad. 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.6 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."7 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. History 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. In 1903, Fiat produced its first truck.8 In 1908, the first Fiat was exported to the US.9 That same year, the first Fiat aircraft engine was produced. Also around the same time, Fiat taxis became somewhat popular in Europe.10 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 US cost between $3,600 and $8,600 ($73,909 to $176,561 today). Compare this to the $825 ($17,000 today) Henry Ford charged for his first Model Ts in 1908.11 However, upon the entry of the US into World War I in 1917, the factory was shut down as US regulations became too burdensome. At the same time, Fiat had to devote all of its factories to supplying the Allies, producing aircraft, engines, machine guns, trucks, and ambulances. After the war, Fiat introduced its first tractor.12 By the early 1920s, Fiat had a market share in Italy of 80%.13 In 1921, workers seized Fiat's plants and hoisted the red flag of communism over them. Mr. Agnelli responded by quitting the company, retiring to private life, and letting the workers try to run the company. Shortly afterward, 3,000 of them walked to his office and asked him to return to the helm — -a request to which he reluctantly agreed. 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. Fiat made military machinery and vehicles during World War II for the Italian Army and Air Force and later for the Germans. Fiat made obsolete fighter aircraft like the biplane CR 42, which was one of the most common Italian aircraft used along with the Savoia-Marchetti, and also made light tanks and armored vehicles. These were weak compared to some of the German and Soviet counterparts, but were still used often. The best Fiat aircraft was the G 55 fighter but arrived too late and in too few numbers. In 1945 — the year Hitler's ally Mussolini was overthrown as leader of Italy - 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 and as chairman until 1996.14 Gianni Agnelli Among Gianni's first steps after he gained 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 1960's. 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. Then, in 1969, it purchased controlling interests in Ferrari and Lancia. According to Newsweek in 1968, Fiat was "the most dynamic automaker in Europe . . . [and] may come closest to challenging the worldwide supremacy of Detroit." In 1967 Fiat, with sales amounting to $1.7 billion, outstripped Volkswagen, its main European competitor; in 1968 Fiat produced some 1,750,000 vehicles while its sales volume climbed to $2.1 billion ($11.5 billion today). At the time, Fiat was a conglomerate, owning Alitalia Airlines, toll highways, typewriter and office machine manufacturer, electronics and electrical equipment firms, a paint company, a civil engineering firm, and an international construction company. That same year, Fiat acquired Citroën — one of France's three major automakers at the time. However, in 1976, it sold the company. Following up on an agreement that Valetta had made with Soviet officials in 1966, Agnelli constructed the AvtoVAZ plant in the new city of Togliattigrad on the Volga that went into operation in 1970 - producing a localised version of the Fiat 124 - the infamous 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. Thus, in 1984, Fiat and Lancia withdrew from the American market. In 1989, it did the same in the Australian market. In 1986, Fiat acquired Alfa Romeo from the Italian government. In 1992, two top corporate officials in the Fiat Group were arrested for political corruption.15 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 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%16 from around 62% in 1984.17 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).18 In 1999, Fiat formed CNH Global by merging New Holland NV and Case Corporation. Recent events Over time, most automotive companies around the world have become holding companies of foreign as well as domestic competitors. For example, the U.S. company General Motors owned a controlling interest in Sweden's Saab Automobile and, until recently, in Japan's Isuzu. Fresco signed a joint-venture agreement in 2000 under which GM acquired a stake in Fiat. 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 May 13, 2005 GM and Fiat officially dissolved their agreement, and Fiat is now courting Ford.19 The current CEO views alliances such as these as the deciding factor of the future success of Fiat. 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 68% between January and October 2004),20 a strong Euro, and increased competition from Japanese and Korean car manufacturers in Europe. Although the light-vehicle market share of Japanese and Korean automakers in Europe is less than in the US (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.21 Wikinews has news related to: New Zealand diplomats: Fiat using Maori haka in television ad is insensitive Fiat has drawn criticism within New Zealand for an advert they 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 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. Sergio Marchionne Nonetheless, Sergio Marchionne has begun to impress investors since taking over as CEO in June, 2004. Losses have fallen steadily since 2002, and Q4 of FY2005 saw its first profit in 17 quarters, and had a profit of 196M Euros for the first 9 months of FY2006.22 Mr. Marchionne has succeeded more than Fresco in taking an axe to Fiat's bloated managerial bureaucracy and changing its tone to a focus on markets and profits. (Mr. Marchionne was raised in Canada by Italian parents.) While the charismatic chairman, the well-connected 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.Fiat has formed a joint venture with India's TATA motors and has started its second innings with a force . See also List of Italian companies List of automobile manufacturers Simca Neckar
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121 Makes In Database 1978 Fiat 131 Supermirafiori 1978 Fiat 131 Racing 1976 Fiat 131 Abarth Rally 1974 Fiat Campagnola 1974 Fiat 132 GLS 1800 1974 Fiat 132 1600 GL 1974 Fiat 131 Mirafiori 1972 Fiat 128 Rally 1972 Fiat 126 1971 Fiat 127 1970 Fiat 125 Special 1969 Fiat Dino Spider 1969 Fiat 130 2800 Limousine 1969 Fiat 128 1969 Fiat 124 Sport Spider 1968 Fiat 850 Special 1968 Fiat 124 Special 1967 Fiat 125 1966 Fiat 124 Sport Spider 1966 Fiat 124 Saloon 1966 Fiat 124 Familiare 1966 Fiat 1100 R Station Wagon 1965 Fiat 850 Spider 1963 Fiat 1500 S Cabriolet 1962 Fiat 1500 L 1962 Fiat 1100 D Station Wagon 1962 Fiat 1100 D 1961 Fiat 2300 Station Wagon 1961 Fiat 2300 Saloon 1961 Fiat 1500 1957 Fiat 500 1955 Fiat Campagnola A 1955 Fiat 600 1954 Fiat Turbina Concept 1953 Fiat 1400 1952 Fiat 8V 1950 Fiat 1400 Cabriolet 1949 Fiat Topolino 500 C 1949 Fiat 1100 E 1948 Fiat Topolino 500 B 1938 Fiat 2800 Berlina 1937 Fiat 508 C Balilla 1100 1936 Fiat Topolino 500 1933 Fiat 518 Ardita 2000 1932 Fiat 508 Balilla Sport 1932 Fiat 508 Balilla 3 Marce 1929 Fiat 514 Saloon 1922 Fiat 519 S 2007 Fiat Panda 100HP 2007 Fiat Linea 2007 Fiat Grande Punto Abarth S2000 2007 Fiat Grande Punto Abarth Preview 2007 Fiat Bravo 2006 Fiat Ulysse 2006 Fiat Sedici 2006 Fiat Panda Multi Eco Concept 2006 Fiat Panda Cross 2005 Fiat Panda Alessi 2005 Fiat Panda 4x4 1.3 Multijet 2005 Fiat Oltre Concept 2005 Fiat Idea 2005 Fiat Grande Punto 2005 Fiat Doblo Cargo 2005 Fiat Doblo 2005 Fiat Croma 2005 Fiat 600 50th 2004 Fiat Trepiuno Concept 2004 Fiat Strada Malibu 2004 Fiat Stilo M.Y. 1.9 Multijet 5door 2004 Fiat Seicento 2004 Fiat Punto Rally 2004 Fiat Panda 4x4 2004 Fiat Multipla 2003 Fiat Strada 2003 Fiat Punto Sporting 2003 Fiat Punto Rally 2003 Fiat Punto Natural Power 2003 Fiat Punto Dynamic 2003 Fiat Punto Active 2003 Fiat Panda Emotion 2003 Fiat Panda Dynamic 2003 Fiat Panda Actual 2003 Fiat Panda 2003 Fiat Idea 1.9 Multijet Dynamic 2003 Fiat Idea 1.4 16v Emotion 2003 Fiat Idea 2003 Fiat Barchetta First Class of Alviero Martini 2003 Fiat Barchetta 2002 Fiat Ulysse Emotion 2.0 16v 2002 Fiat Ulysse 2.0 JTD 2002 Fiat Ulysse 2002 Fiat Stilo Multi Wagon Dynamic 2002 Fiat Stilo Multi Wagon Actual 2002 Fiat Stilo Multi Wagon 2002 Fiat Stilo Dynamic 2002 Fiat Stilo Active 2002 Fiat Stilo Abarth 2002 Fiat Stilo 2002 Fiat Palio Weekend 2002 Fiat Palio 2002 Fiat Multipla 2002 Fiat Albea 2001 Fiat Doblo 1994 Fiat Cinquecento Sporting 1.1i 1993 Fiat Punto 1993 Fiat Croma 1992 Fiat Cinquecento Elettra 1991 Fiat Panda 1990 Fiat Uno 1990 Fiat Tipo 1990 Fiat Tempra SW 1990 Fiat Panda Elettra 1986 Fiat Regata 100 Weekend 1985 Fiat Ritmo Supercabrio 1984 Fiat Regata 75 1983 Fiat Argenta 1981 Fiat Ritmo S 85 Cabrio Bertone 1981 Fiat 127 Diesel 1980 Fiat 127 Panorama 1978 Fiat Ritmo 1978 Fiat 132 Diesel |
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