Intro: Fiat is an acronym. It stands for Fabbrica Italiana Automobili di Torino and is the product of one of Italy’s most influential and wealthiest families. Giovanni Agnelli formed the company in 1898, but its first motor car did not appear until one year later. It remains one of the largest industrial groups in Europe, with manufacturing plants located around the world, producing trucks, aircraft and railway rolling stock. Although Fiat is probably better known for its small cars, it has made some large luxury machines in its history, which have sold well to a knowledgeable audience.
Over the years, Fiat has grown large enough to absorb several other key Italian brands, such as: Lancia, Abarth, Ferrari and Alfa Romeo.
Sergio Marchionne took over as CEO of Fiat Auto in February, 2005 from Herbert Demel. Marchionne is now busy developing new products for Fiat, fresh from its divorce from General Motors.
New cooperations include joint development of minicars with Ford and a Memorandum of Understanding with Tata. |
