Fiat S.p.A.

From Wikipedia, the free encyclopedia

This article is about the former holding company of Fiat Group. For the company that succeeded
Fiat S.p.A., and owns the Fiat Group, see Fiat Chrysler Automobiles. For the subsidiary which
produces Fiat branded cars, see Fiat Automobiles.
Fiat S.p.A.

Former type

Societ per azioni

Traded as

BIT: F

Industry

Automotive
Media

Fate

Merged into successor Fiat Chrysler Automobiles, taking control of the Fiat
Group.

Successor

Fiat Chrysler Automobiles

FCA Italy S.p.A.

Founded

11 July 1899 in Turin, Italy

Founder

Giovanni Agnelli

Defunct

12 October 2014

Headquarters

Turin, Italy

Key people

John Elkann (Chairman)

Sergio Marchionne (CEO)

Products

Automobiles, commercial vehicles, auto parts, newspapers, production systems

Production output

4.2 million units (mass

Revenue

Operating income

Total assets

Total equity

market brands - new cars and LCVs) (2012)

[1]

83.957 billion (2012)[1]

3.814 billion (2012)[1]

82.119 billion (end

2012)

13.173 billion (end

2012)

Owner

Exor(30.05%)

Number of

214,836 (end

2012)

[1]

[1]

[1]

employees

Subsidiaries

Companies[2][show]

Website

fiatspa.com

Fiat S.p.A., or Fabbrica Italiana Automobili Torino (Italian Automobile Factory of Turin), was
an Italian holding company whose original and core activities were in the automotive industry, and
that was succeeded by Fiat Chrysler Automobiles NV (FCA). The Fiat Group contained many brands
such as Ferrari, Maserati, Fiat, Alfa Romeo, the Chrysler Group, and many more. On 29 January
2014, it was announced that Fiat S.p.A. (the former owner of Fiat Group) was to be merged into a
new Netherlands-based holding company Fiat Chrysler Automobiles NV (FCA), took place before
the end of 2014. Fiat Chrysler Automobiles became the new owner of Fiat Group. On 1 August
2014, Fiat S.p.A. received necessary shareholder approval to proceed with the merger (which
followed board approval). The merger became effective 12 October 2014.
[3]

[4]

[5][6]

Fiat was founded in 1899 by a group of investors, including Giovanni Agnelli. During its more than
century-long history, Fiat has also manufactured railway engines and carriages, military vehicles,
farm tractors, and aircraft. In 2013, Fiat (together with Chrysler) was the second largest European

automaker by volumes produced, and the seventh in the world ahead of Honda, PSA Peugeot
Citron,Suzuki, Renault, and Daimler AG.
Over the years, Fiat has acquired numerous other automakers: it acquired Lancia in 1968, became a
shareholder of Ferrari in 1969, took control of Alfa Romeo from the Italian government in 1986,
purchased Maserati in 1993, and became the full owner of Chrysler Group LLC in 2014. Fiat Group
currently produces vehicles under twelve brands: Abarth, Alfa
Romeo, Chrysler, Dodge, Ferrari, Fiat,Fiat Professional, Jeep, Lancia, Maserati, Ram Trucks,
and SRT.
In 1970, Fiat employed more than 100,000 in Italy when its production reached the highest number,
1.4 million cars, in that country. As of 2002, Fiat built more than 1 million vehicles at six plants in Italy
and the country accounted for more than a third of the companys revenue.
[7]

[7]

Fiat-brand cars are built in several locations around the world. Outside Italy, the largest country of
production is Brazil, where the Fiat brand is the market leader. The group also has factories in
Argentina, Poland and Mexico (where Fiat-brand vehicles are manufactured at plants owned and
operated by Chrysler for export to the U.S., Brazil, Italy and other markets) and a long history of
licensing manufacture of its products in other countries. It also has numerous alliances and joint
ventures around the world, the main ones being located in Serbia, France, Turkey, India and China.
[8][9]

Gianni Agnelli, the grandson of founder Giovanni Agnelli, was Fiat's chairman from 1966 until 1996;
he then served as honorary chairman from 1996 until his death on 24 January 2003, during which
time Cesare Romiti served as chairman. He was succeeded briefly by Paolo Fresco, who served as
chairman, and Paolo Cantarella, as CEO. Umberto Agnelli then took over as chairman from 2003 to
2004. After Umberto Agnelli's death on 28 May 2004, Luca Cordero di Montezemolo was named
chairman, with Agnelli heirJohn Elkann becoming vice chairman (at the age of 28), and other family
members also serving on the board. On 1 June 2004, Giuseppe Morchio was replaced by Sergio
Marchionne as CEO.
Contents
[hide]

1 History

1.1 Gianni Agnelli

1.2 Paolo Fresco

1.3 Sergio Marchionne

1.4 Acquisition of Chrysler

2 Activities

2.1 Principal subsidiaries

2.2 Alliances and joint ventures

2.3 Automotive

2.4 Trucks & Buses

2.5 Commercial vehicles

2.6 Agricultural and Construction equipment

2.7 Components

2.8 Metallurgical products

2.9 Production systems

2.10 Services

2.10.1 Construction

2.10.2 Information technology

2.11 Publishing and communication

2.12 Other activities

2.12.1 Aviation and motorcycles

2.12.2 Weapons

2.12.3 Rail transport

2.12.4 Recreation

3 Enterprises outside Italy

3.1 Fiat Automveis (Brazil)

3.2 Fiat Argentina

3.3 Fiat Automobili Srbija

3.4 Polski Fiat/FSO (Poland)

3.5 AutoVAZ Lada (Russia)

3.6 Bulgaria

3.7 Tofa (Turkey)

3.8 SEAT (Spain)

3.9 Ethiopia

3.10 Egypt

3.11 India

3.12 Pakistan

3.13 Sri Lanka

3.14 North Korea

3.15 China

4 See also

5 References

6 External links

History

Fiat 3 CV (1899)

Corso Dante plant

Fiat tractor in a 1919 American magazine article

Lingotto factory (1928)

Advertisement, 1939

Mirafiori plant

Lingotto factory (today)

Giovanni Agnelli, with several investors, founded the Fabbrica Italiana Automobili Torino
(F.I.A.T.) societ per azioni (S.p.a.), Italian Automobile Factory of Turin, in 1899.
Its acronymous name was changed to upper- and lower-case Fiat in 1906. Agnelli led the company
until his death in 1945, while Vittorio Valletta administered the firm's daily activities. Its first car the 3
CV (of which only 24 copies were built, all bodied by Alessio of Turin) strongly resembled
contemporary Benz, and had a 697 cc (42.5 cu in) boxer twin engine. In 1903, Fiat produced its
first truck. In 1908, the first Fiat was exported to the US. That same year, the first Fiat aircraft
engine was produced. Also around the same time, Fiat taxis became popular in Europe.
[10]

[11]

[12]

[13]

[13]

[14]

[14]

[15]

By 1910, Fiat was the largest automotive company in Italya position it has retained since. That
same year, a new plant was built inPoughkeepsie, NY, by the newly founded American F.I.A.T.
Automobile Company. Owning a Fiat at that time was a sign of distinction. The cost of a Fiat in the
US was initially $4,000 and rose up to $6,400 in 1918, compared to $ 825 for a Ford Model T in
1908, and $ 525 in 1918, respectively. During World War I, Fiat had to devote all of its factories to
supplying the Allies with aircraft, engines, machine guns, trucks, and ambulances. Upon the entry of
the US into the war in 1917, the factory was shut down as US regulations became too
burdensome
. After the war, Fiat introduced its first tractor, the 702. By the early 1920s, Fiat
had a market share in Italy of 80%.
[16][17]

[18]

[19]

[20]

[21]

[citation needed]

[22]

[23]

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 Italian General Confederation of Labour, in an effort to effect a compromise with the centrist
parties ordered the occupation ended. In 1922, Fiat began to build the famous Lingotto car factory
then the largest in Europewhich opened in 1923. It was the first Fiat factory to use assembly lines;
by 1925, Fiat controlled 87% of the Italian car market. In 1928, with the 509, Fiat included insurance
in the purchase price.
[24]

[25]

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.55fighter, which arrived too late and in too limited numbers. In 1945the
year Mussolini was overthrownthe National Liberation Committeeremoved the Agnelli family from
leadership roles in Fiat because of its ties to Mussolini's government. These were not returned until
1963, when Giovanni's grandson, Gianni, took over as general manager until 1966, as chairman until
1996.

Gianni Agnelli

Gianni Agnelli (in the center) and the Fiat board of directors meet Italian President Sandro Pertini (at his right) during an official visit to the new Sevel Val di Sangro factory, 1981

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 little provision for the
delegation of authority and decision-making. Such a system was effective in the past, but lacked the
responsiveness and flexibility needed by Fiat's steady expansion, and the growth of its international
operations in the 1960s. The company was reorganized on a product-line basis, with two main
product groupsone for passenger cars, the other for trucks and tractorsand a number of semiindependent 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.
Despite offering a relatively competitive range of cars, Fiat was not immune from the financial
pressures that the auto industry confronted following the 1973 oil price shock. Towards the end of
1976 it was announced that the Libyan government was to take a 9.6% shareholding in the company

in return for a capital injection worth an equivalent of 250 million. The size of the Libyan
investment is apparent when it is compared to the 310 million IMF loan that the Italian government
was trying to negotiate at the time. Other aspects of the Libyan agreement included the
construction of a truck and bus plant at Tripoli. Chairman Agnelli candidly described the deal as "a
classic petro-money recycling operation which will strengthen the Italian reserves, provide Fiat with
fresh capital and give the group greater tranquility in which to carry out its investment programmes".
Equally noteworthy was the fact that despite the dilutive effect of the Libyan investment on existing
shareholders, the company's largest shareholder, the Agnelli family, retained a 30% stake in the
recapitalised business.
[26]

[26]

[26]

[26]

[26]

In 1979, the company became a holding company when it spun off its various businesses into
autonomous companies, one of them being Fiat Auto. That same year, sales reached an all-time
high in the US, corresponding to 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 still owned by Libya, an investment dating back to the mid-seventies. US foreign policy
under President Reagan's administration canceled a Pentagon contract to produce earth movers
with Fiat and pressured the company into brokering a buyout of the Libyan investment. In 1992, two
top corporate officials in the Fiat Group were arrested for political corruption. 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.
[27]

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%
from around 62% in 1984.
However, a Jack Welchlike 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.
[citation needed]

[citation needed]

However, his efforts were frustrated by union objections. Unions insisted that pay raises be set by
length of tenure, rather than performance. Another conflict was over his preference for informality
(the founder, Giovanni Agnelli, used to be a cavalry officer). He often referred to other managers by
their first name, although company tradition obliged one to refer to others using their titles (e.g.,
"Chairman Fresco"). The CEO of the company, Paolo Cantarella, ran the day-to-day affairs of the
company, while Fresco determined company strategy and especially acted as a negotiator for the
company. In 1999, Fiat formed CNH Global by merging New Holland NV and Case Corporation.
In 2003, Fiat shed its insurance sector, which it was operating through Toro Assicurazioni to the
DeAgostini Group. In the same year, Fiat sold its aviation business, FiatAvio to Avio Holding. In
February 2004, the company sold its interest in Fiat Engineering, as well as its stake in Edison.

Sergio Marchionne

Sergio Marchionne, Chief Executive Officer of Fiat Group

Sergio Marchionne was appointed CEO of Fiat in 2004 and initially he impressed investors. At the
end of the 2005 financial year, the company saw its first profit in 17 quarters of 196M for the first 9
months of FY2006.
[28]

[29]

Marchionne reduced Fiat's managerial bureaucracy refocused the business on markets and profit.
While chairman, Luca di Montezemolo, dealt with politicians and unions, Marchionne rebuilt the car
business. The success of the Grande Punto model was in large part responsible for the turnaround
in Fiat's fortunes, but the award-winning 500 cemented it. Fiat formed a joint venture with
India's TATA Motors, which has subsequently ended, and with China's Chery Motors which didn't
conclude. In 2005 Fiat courted Ford, and returned to China with a joint venture GAC Fiatcreated in
2010. Under Marchionne Fiat also re-entered several large markets that it had exited years before,
such as Mexico and Australia.
[30]

[31]

In December 2008, Marchionne announced Fiat had to become one of the top five automakers to
survive in the long run. Under Marchionnes leadership, Fiat returned to Canadian and American
markets with the new 500. However, since 2009, Marchionne has presided over a business that has
experienced a loss in European market share from 9.3 to 6.2 percent. In December 2013,
Marchionne announced that he intended to discontinue the Grande Punto so that the company could
focus on "cool, high margin" Fiat 500 (2007) variants and the Fiat Panda.
[32]

[33]

In 2010, John Elkann became the Chairman of Fiat SpA and shareholders approved a plan to
demerger Fiat's capital goods businesses. Agricultural and construction equipment
manufacturer CNH Global NV, truck maker Iveco, and the industrial and marine division of Fiat
Powertrain Technologies were spun off into a new group on 1 January 2011. The parent
company, Fiat Industrial S.p.A., was listed on the Milan stock exchange on 3 January 2011.
[34]

In 2010, credit rating agency Fitch cut Fiat's debt rating to BB- after it had accumulated a debt of
around 9.3 billion. In 2013, Fiats debt rating was cut again, this time by Moody's, to Ba3 over
concerns European demand was lower and debt was falling slower than expected. The Financial
Times estimate of Fiat's debt at the time was almost28 billion.
[35]

[36]

[37]

Acquisition of Chrysler
On 20 January 2009, Fiat S.p.A. and Chrysler LLC announced their intention to form a global
alliance. Under the terms of the agreement, Fiat would take a 20% stake in Chrysler and gain
access to its North American distribution network in exchange for providing Chrysler with technology
and platforms to build smaller, more fuel-efficient vehicles in the US and providing reciprocal access

to Fiat's global distribution network. Agreements were signed on 30 April 2009, with Fiat's future
shareholding capped at 49% until all government loans had been repaid.
[38][39]

[40]

[41][42]

In addition, the proposed agreement would entitle Fiat to receive a further 15% (without cash
consideration) through the achievement of specific product and commercial objectives. No cash or
financial support was required from Fiat under the agreement. Instead it would obtain its stake
mainly in exchange for covering the cost of retooling a Chrysler plant to produce one or more Fiat
models for in the US. Fiat would also provide engine and transmission technology to enable Chrysler
to introduce smaller, fuel-efficient models in the NAFTA market. The deal was engineered by Fiat
chief Sergio Marchionne, who pulled the Italian group back from the brink of collapse after taking
over in 2004. The principal objective of the partnership was to provide both groups with significantly
enhanced economies of scale and geographical reach at a time when they were struggling to
compete with larger and more global rivals such as Toyota, Volkswagen and alliance
partners Renault S.A. and Nissan.
[38]

Fiat would not have to pay any money for its 20% of Chrysler. On 7 June 2009, the Indiana State
Police Pension Fund, the Indiana Teacher's Retirement Fund, and the state's Major Moves
Construction Fund asked the US Supreme Court to delay the sale of Chrysler to Fiat while they
challenge the deal. The funds argued that the sale went against US bankruptcy law because it
unlawfully rewarded unsecured creditors ahead of secured creditors. On 9 June 2009, the Supreme
Court lifted the temporary hold, clearing the way for Fiat to acquire Chrysler. See Indiana State
Police Pension Trust v. Chrysler for more information. On 10 June, the Supreme Court announced
that Fiat was now an owner of the new Chrysler a.k.a. Chrysler Group LLC.
[43]

[44]

Marchionne was appointed CEO of Chrysler following its emergence from bankruptcy proceedings.
Under his leadership, Chrysler has taken on a structure similar to that of Fiat and has released, in
quick succession, a large number of completely redesigned or refreshed vehicles.
Fiat
launched its 500, which had been available in Europe since 2007, in the United
States and Canada in 2011, marking the company's return to the American auto market, which it had
been absent from since 1984. Prior to this, Fiat's main presence on the continent was Mexico, where
it offers a greater variety of products than in the United States and Canada.
[citation needed]

On 10 January 2011, Fiat announced that it had increased its share in Chrysler from 20% to 25%
following the achievement of the first of three performance objectives. On 11 April 2011, it
announced achievement of the second performance objective, increasing its stake a further 5% to
30%. On 24 May 2011, Fiat announced that it had paid Chrysler US$ 1,268 million for a further 16%
interest, increasing its stake total stake to 46% (fully diluted). The transaction coincided with Chrysler
refinancing its debt to the U.S. and Canadian governments. On 25 May autonews.com reported
that Fiat could buy government stakes in Chrysler as soon as the end of July 2011, increasing its
total stake to 54%.
[45]

[46]

[47]

[48]

In May 2011, it emerged that Fiat could actually increase its stake in Chrysler Group to more than 70
percent through the exercise of further options.
[49]

In a regulatory filing dated 22 July 2011, the Michigan-based automaker reported that Fiat held a
53.5% interest (fully diluted). Fiat and Chrylser have both stated that they expect that interest to
reach 58.5% by the end of 2011 as result of achievement of the third of the three performance
objectives. In 5 January 2012 Fiat released press info that the ownership has increased to 58.5%.
The stake was further increased to 68.49% in July 2013. On 1 January 2014, Fiat announced it
would be acquiring the remaining shares of Chrysler owned by the VEBA worth $3.65 billion. The
deal was completed by 21 January.
[50]

[51]

[52]

[53]

On 29 January 2014, it was announced that Fiat S.p.A. would be merged into a new company, Fiat
Chrysler Automobiles NV, incorporated in the Netherlands with tax domicile in the UK. Fiat Chrysler
Automobiles will become the owner of Fiat Group. On August 1, 2014, Fiat S.p.A. received
necessary shareholder approval to proceed with the merger (which followed board approval). FCA
[3]

[4]

will be listed on the New York Stock Exchange with an additional listing on the Mercato Telematico
Azionario in Milan to follow.

Activities

Fiat Group revenues by sector in 2009

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.
Fiat's main shareholders include 30.1% by Exor S.p.A (controlled by the Agnelli family), 24.9% by
EU institutional investors, 11.2% by outside EU institutional investors and 2.6% by Baillie Gifford &
Co., a Scottish investment management company.
[1]

Principal subsidiaries
Fiat's principal operating subsidiaries (direct and indirect) include: Fiat Group Automobiles S.p.A.
(FGA), Chrysler Group LLC, Fiat Automoveis, S.A. (subsidiary of FGA); FGA Capital S.p.A. (a JV
held 50% by FGA and 50% by Crdit Agricole CF), Ferrari S.p.A., Maserati S.p.A., Magneti Marelli
S.p.A., Teksid S.p.A., Comau S.p.A., Itedi-Italiana Edizioni S.p.A. (see 2010 Annual Report )
[54]

Alliances and joint ventures

Fiat has undertaken numerous joint ventures and alliances. Commencing in 1978, the Type Four
platform was an alliance between Alfa Romeo, Fiat, Lancia and Saab and resulting in a range of cars
on sale in the mid 1980s.
In 2000 a number of joint ventures were established with General Motors following GM buying 20%
of Fiat while Fiat bought 6% of GM. Complications with the relationship saw these JVs being wound
back by 2005. Resulting projects included the GM Fiat Small platform and Fiat-GM Powertrain.
[55]

In 2005, Fiat formed an alliance with Ford to create a new small car, resulting in the Fiat
500 and Ford Ka.
[56]

In 2012, Fiat formed an alliance with Mazda to develop and build a new rear wheel drive roadster for
the Alfa Romeo and Mazda brands.
[57]

Automotive
For Fiat branded cars see Fiat Automobiles

Global locations of Fiat Group automobile production sites, 2008. Including own plants, joint ventures and license production. Excluding Chrysler.

A Fiat 1500 at a vintage car event in Germany in May 2014

Fiat 500L in production from 2012

Lancia Delta

Alfa Romeo 159

Maserati GranTurismo

Ferrari 458 Italia

Fiat is the largest vehicle manufacturer in Italy, with cars ranging from small Fiat city cars to sports
cars made by Ferrari, and vans and trucks such as the Ducato. Besides Fiat Group Automobiles
S.p.A, Fiat Group automotive companies include Chrysler Group LLC 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 90% owned by the Fiat Group. The company also ownsAutobianchi but the marque
has been dormant since 1995, and Innocenti, which ceased production in 1996.
[58]

The European Car of the Year award, Europe's premier automotive trophy for the past 50 years, has
been awarded twelve times to the Fiat Group, more than any other manufacturer, most recently with
the Fiat 500 in 2008.
[59]

Previous Fiat Group models which have won European Car of the Year: Fiat 124 (1967), Fiat
128 (1970), Fiat 127 (1972), Lancia Delta(1980), Fiat Uno (1984), Fiat Tipo (1989), Fiat
Punto (1995), Fiat Bravo/Brava (1996), Alfa Romeo 156 (1998), Alfa Romeo 147 (2001) and the Fiat
Panda (2004).

Trucks & Buses

For Fiat branded trucks & buses from 1903 to 1975, see Fiat Industrial Vehicles

Iveco, Fiat's former truck, bus and specialty vehicles business unit, was demerged into Fiat
Industrial at the beginning of 2011.
[60]

Commercial vehicles
On 17 April 2007, Fiat Automobiles' light commercial vehicle unit Fiat Veicoli Commerciali was
rebranded as Fiat Professional. Some of Fiat's light commercial vehicle products include the Fiat
Ducato, Fiat Scudo and Fiat Dobl Cargo.
[61]

Agricultural and Construction equipment

For Fiat branded Agricultural & Construction equipments from 1917 to 1991, see Fiat Trattori and
from 1992 to 2014, see CNH Global.

Components
The major Italian component maker Magneti Marelli is owned by Fiat, and it in turn owns other
brands such as AL-Automotive Lighting, Carello, Cromodora, Cofap, Ergom Automotive, Jaeger,
Mako Elektrik, Paraflu, Seima, Siem SpA, Solex, Veglia Borletti, Vitaloni and Weber.

Metallurgical products
Fiat owns Teksid S.p.A., the largest iron foundry group in the world with a production capacity of
approximately 600,000 tons annually. The company was established in December 1978, and
designs and produces cylinder blocks, cylinder heads, exhaust manifolds, drive shafts, camshafts
and other components for automobiles and commercial vehicles. Teksid, which is specialized in
casting and processing iron, has plants in France, Portugal, Poland, Brazil, Mexico and China. Since
2007, Teksid S.p.A. runs also Teksid Aluminum S.r.l. a company specialized in casting and producing
auto components from aluminum alloys.

Production 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 best automated and advanced in
the world.

Services
An 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 Generaliand is no longer
part of the Fiat Group.
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 ICTInformation & Communication
Technology, Global Value, TeleClient, London and Atlanet.

Publishing and communication

Fiat Group also has interests in several major publishing houses and national and local newspapers,
such as La Stampa (created in 1926), Itedi, and Italiana Edizioni. A specialised advertising space
reseller is Publikompass, supported by the Consorzio Fiat Media Center. Fiat is also has one of the
largest shareholdings in RCS MediaGroup.

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 well-known historic building in Venice, now a museum and formerly
supported by Fiat, was eventually sold to the French businessman Franois Pinault in January 2005.
Aviation and motorcycles

Fiat G91T training aircraft

Main articles: Fiat Aviazione, Avio and Piaggio Aero

Fiat, as Fiat Aviazione, 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.
In 1959, Piaggio came under the control of the Agnelli family. In 1964, the aeronautical and
motorcycle divisions split to become independent companies. The aeronautical division was named
IAM Rinaldo Piaggio. Today the aeronautical company Piaggio Aero is controlled by the family
of Piero Ferrari, which also holds 10% of the carmaker Ferrari.
Main article: Vespa
The motorcycle division, Vespa, thrived until 1992, when Giovanni Alberto Agnelli became CEObut
Agnelli was already suffering from cancer, and died in 1997. In 1999, Morgan Grenfell Private
Equity acquired Piaggio.

Fiat artillery tractor in the journalHorseless Age, 1918.

Weapons

Fiat built artillery tractors for the French and Italian armies in World War I.
Societ Anonima Fabbrica Armi Torino (SAFAT) was a wholly owned subsidiary of FIAT in the 1930s,
designing and manufacturing weapons for the Italian armed forces. After losing a competition to
produce a series of new machine-guns for the Regia Aeronautica, SAFAT was sold to the winning
competitor - Societ Italiana Ernesto Breda, forming Breda-SAFAT.
Rail transport

Early rail cars at the Finnish Railway Museum. The green car is a Fiat and the black car is a Cadillac

Fiat Ferroviaria, there has been a long history going back pre WW2 of Fiat motive power used for
both Diesel and electric locomotives and railcars (Littorine) not only in Italy, but other parts of
Europe, and in South America, but from the 1970s onward, more widely known throughout the world
with their successful commercial development of the Pendolino tilting trains, the first working
prototype four-car set being run in the mid-1970s. Fiat Ferroviaria was later sold to Alstom in the
middle 1990s.
Recreation

The Fiat Group owned the Sestriere skiing facilities; the village in the Alps is a creation of the Agnelli
family. The Sestriere skiing facilities were sold by the group in 2006.

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 is now controlled by Renault, and SEAT by Volkswagen. A small number of Fiats were built 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 Collegecampus.
[16][17]

Fiat Automveis (Brazil)

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

Fiat Automveis S.A., a subsidiary of Fiat S.p.A., 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. More than 10,000,000 units have been produced in Fiat Automveis factory
in Betim since 1976, plus 232,807 units in the Fiat Argentina plant of Crdoba. The original factory,
located in the city of Belo Horizonte, cost $250 million to build. The state of Minas Gerais had a 1020% stake in the company and also provided special economic benefits to Fiat.
[62]

[63]

[64]

Launched in July 1979, the 147 was the first mass-produced car that ran on ethanol as fuel instead
of petrol.
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 cachaa) because
it had the scent of that Brazilian drink.
[65][66][67]

Fiat Siena Tetrafuel 1.4, a multifuelcar that runs as a flexible-fuel on gasoline, E20-E25 gasohol, ethanol (E100); or as a bi-fuel with CNG

In October 1984 Fiat Automveis introduced the Fiat Uno, which continued on sale until the end of
2013 as the renamed Fiat Mille, resulting in total production of 3.6 million vehicles. Production of
the Fiat Palio world car began in 1996.
[68]

After the successful 2003 introduction of flexible-fuel vehicles in the Brazilian market, Fiat
Automveis launched its first flex model in March 2004, the Fiat Palio, followed by
the Siena and Palio Weekend. Fiat sold 665,514 vehicles in Brazil in 2008, allowing the carmaker
to continue as the market leader for seven years in a row. Flex fuel automobiles represented almost
100 percent of the car sales in 2008, and 92 percent of all light-duty trucks sold.
[69]

[70]

[71]

[72]

[73]

In 2006 Fiat introduced the Fiat Siena Tetra fuel, a four-fuel car developed under Magneti Marelli of
Fiat Brazil. This automobile can run as a flex-fuel on 100% ethanol (E100); or on E20-E25 blend,
Brazil's normal ethanol gasoline blend; on pure gasoline (though no longer available in Brazil since
1993, 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.
[74][75]

[76]

[77][78]

[79]

Fiat Argentina
Fiat has been present in Argentina since the beginning of the 20th century. There was a Fiat
manufacturing plant in Crdoba at least as far back as 1954 when Fiat entered into a joint venture
with two local companies to manufacture tractors. The company was known as Fiat-Concord until
1980. In 1959 the construction of a car plant in Caseros was approved, and 1960 saw the production
there of the first Argentinian produced Fiat passenger car, a Fiat 600, after the Fiat 1100Export and
after in 1963 the Fiat 1500. In 1977 appears the Fiat 133, just a rebadged Seat 133 but made in
Argentina. By 1978 a car manufacturing facility was well established inCrdoba, producing Fiat
128s as well as two models which from the Italian perspective belonged in earlier decades,
the 125 (with some derivates) and the 600R.
[80]

In 1980 a joint venture with PSA called Sevel Argentina S.A. was begun, which lasted until 1995.
The current day automobile manufacturing started with a new factory opened inCrdoba on 20
December 1996. From April 1997 the Siena and Palio models production started.
[81]

Production was suspended in the early 2000s as the Argentinean economy went downhill. In 2008
Fiat invested new money and the production of Fiat Siena saloon and the Fiat Palio was started. In
October 2009, a Fiat Siena HLX becomes the 2 million unit produced by Fiat in Argentina. The Fiat
Auto Argentina S.A. is Fiat S.p.A. owned company.
[82]

Fiat Automobili Srbija

Its first enterprise came in 1955, when it agreed to a deal with Yugoslav carmaker Zastava to
assemble Fiats for Eastern Europe. The first cars 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, which were 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
lasting until 1981. Zastavas were not popular outside of Eastern Europe before the 1980s, although
they were exported to the US and several European countries under the Yugo brand during the
1980s.
The most famous product launched by Zastava is the Zastava 101, a front-wheel drive car based on
the Fiat 128, also available as a hatchback version never sold in Italy. With the demise of
the 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 or Yugo 45/55. It was based on the
1971 Fiat 127, which was due to be replaced by the Fiat Uno in 1983. Hostility towards Yugoslavia in
the wake of the 1992 civil unrest saw a swift ending of imports to both Britain and America. The
Zastava factory in Kragujevac was later bombed, but was rebuilt after the war ended, and production
continued at another factory inKragujevac.
In 1987, Zastava came up with a new car design. The Zastava Floridaknown in other markets as
the Yugo Sanawas styled by Giorgetto Giugiaro at the ItalDesign studio, featured a range of
refined Peugeot engines. 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 designthis time the second generation Punto, and in 2009 was renamed Fiat Punto
Classic
A new memorandum of understanding between Fiat and the Serb ministry of economic and regional
development about the acquisition of Zastava's Kragujevac plant in 2008 led to a new company
being set up in which the Italians would have a 70 percent stake and the Serb government 30
percent. The factory was renamed from "Zastava Automobili Srbija" to "Fiat Automobili Srbija". In
2010 and 2011, FAS (Fiat Automobili Srbija) underwent large-scale reconstruction for production of
the Fiat 500L in 2012.
[83]

[84]

Polski Fiat/FSO (Poland)

Main article: Fabryka Samochodw Osobowych

Fiat 500 & 126

Fiat automobiles have been made in Poland since 1920. In 1932, the Polskie Zakady Inynieryjne
(Polish Engineering Works, PZIn)started the production of Fiat 508, produced until 1939 also as a

military vehicle. In 1936 the licence was extended to include the Fiat 518model. In 1965, the Polish
communist government signed a deal with Fiat to produce selected Fiat models in Poland at
the FSO factory inWarsaw that had been built in 1951. Production of the new carthe Polski Fiat
125pbegan 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 well in its homeland and was soon exported to
Western Europe. 1978 saw the appearance of a new five-door hatchback, the FSO Polonez, that
made use of Fiat 125p running gear. After 1982, Fiat withdrew its licence; since then FSO badge
was reinstated with the Polski Fiat 125p surviving until 1991, and the Polonez production ending in
2002. FSO was taken over by Daewoo of South Korea in 1995, and become independent again in
late 2000, after Daewoo went bankrupt and was taken over by General Motors.
Fabryka Samochodw Maolitraowych (FSM) in Bielsko-Biaa and Tychy was a joint venture
between FSO and Fiat, and manufactured theFiat 126(p) in 1973 and the Cinquecento in 1991. In
1992 Fiat owned 90% of FSM (called Fiat Auto Poland, since 1993) and since then it
produced Cinquecento, Uno, Seicento,Siena and 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, the Fiat
500 and its relatedFord Ka Capacity was increased with production reaching over 600,000 in 2009,
but dropped below 300,000 in 2013, resulting in the workforce being cut by a third.
[85]

[86]

AutoVAZ Lada (Russia)

Main article: Lada
In 1966, Fiat helped USSR state industries build a new car factory (AvtoVAZ) on 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 Citron 2CV of Germany and France. The new Soviet car, called
the Lada, was a more spacious offering, in four-door saloon and five-door estate variants. Fiat
installed British machine tools supplied by Herbert-BSA 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 sold well owing to their low price. This car was upgraded to become the Lada
Riva(marketing name in some markets) in 1980. Lada has gone on to develop some of its own
models. The four-wheel drive Lada Niva uses some Fiat based components, e.g. engine and
gearbox, but the body and four-wheel drive system are VAZ designs.
[87]

Bulgaria
19671971 produced Pirin-Fiat in Lovech, Bulgaria.

Tofa (Turkey)
Tofa is joint venture owned by Fiat SpA and Ko Holding (37.8% Fiat Group Automobiles, 37.8%
Koc and 24.3% others). The Fiat 124 was produced under licence by Tofa as the Tofa Murat. This
was replaced by a version of the Fiat 131, known as the Tofa ahin(Tofa Murat 131). 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.
[88]

[89]

SEAT (Spain)
In Spain, SEATSociedad Espaola de Automviles de Turismo (Spanish Touring Car Company)
was established with Fiat assistance in 1950, producing Fiat models under its own brand name until
1981, when Fiat withdrew its support. In 1982 SEAT signed a cooperation agreement with the
German manufacturer Volkswagen and by the end of 1986 after a purchase of a majority stake
SEAT had become part of the Volkswagen Group. However, production of some Fiat-based models
continued, ending with the Fiat-basedMarbella in 1998.

Ethiopia

The Fiat 131, known as the Holland Car DOCC.

Egypt
Following the Egyptian Revolution of 1952, President Gamal Abdel Nasser ordered the EGID
(General Intelligence Agent) to establish a state owned automobile company. Nasrwas founded in
1960 in Helwan, Egypt. It began producing some Fiat based models, but later produced the Tofa
ahin under license by Tofa. The last Fiat 128 model was built in 2008, while the ahin is in
production in Egypt.
Currently the El-Mashreq Company, a part of the Seoudi Group is the main manufacturer of Alfa
Romeo and Fiat vehicles for the Egypt market. The AAV was also an Egypt manufacturer for Fiat.
They assembled the Fiat Ritmo in order of Nasr.

India
Fiat India Automobiles Private Limited (FIAPL) is a joint venture between Fiat
and Mumbai based Tata Motors, founded in 1997. Fiat builds the Palio Stile, Linea and Punto. The
Fiat plant is situated in Ranjangaon near Pune in Maharashtra and also manufactures the Tata
Indica.
[90]

[91]

Although not a subsidiary of Fiat, Premier Automobiles of Mumbai was licensed to manufacture
versions of the Fiat 500 for the Indian market. This was followed by the Fiat 1100 in 1954. In 1973,
the Fiat label was replaced with the Premier name.

Pakistan
Raja Motors are the authorized manufacturers of Fiat motor vehicles in Pakistan since 1948. The
manufacturing started with VESPA scooters in 1948. The project was expanded in 2001 to facilitate
assembly-cum-manufacturing of the Fiat Uno. The production facility is located in Landhi Industrial
Area, Karachi, Pakistan.

Sri Lanka
In 1973, entrepreneur Upali Wijewardena's Upali Motor Company began assembly of the local
variant of Fiat 128, known as UMC-Fiat 128.
Production ended with the introduction of the
open-market economy in 1978.
[citation needed]

North Korea
The North Korean car manufacturer and dealer Pyeonghwa Motors assembles two Fiat models
under licence since 2002: Hwiparam (whistle)based on the Fiat Siena, Bbeokgugi (owl)based on
the Fiat Dobl.

China
Fiat entered into a 50:50 joint venture with GAC Group in 2010 to create GAC Fiat Automobiles Co,
with a factory in Changsha completed in 2012 producing a localised version of the Dodge Dart sold
as the Fiat Viaggio.

See also
Italy portal
Companies portal
Cars portal

Automotive industry

Automotive industry crisis of 20082009

List of aircraft engines

List of Italian companies

Neckar

Simca

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