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FIAT is an Italian car manufacturing company (manufactures cars, engines) and a financial and manufacturing association. The headquarters are located in Turin ( Piedmont region ).
The company was formed on February 1, 2007, from the company “Fiat Auto SpA”. Since January 1, 2011, the Fiat Group has divided into two subsidiaries into Fiat SpA (passenger transport) and Fiat Industrial (industrial transport).
In January 2014, after consolidating a 100% stake in American Chrysler, the board of directors of Fiat decided to create a new single automotive company, Fiat Chrysler Automobiles, with headquarters in the Netherlands.
Founded in 1899 by a group of investors, among whom was Giovanni Agnelli. In 1902, Agnelli became the manager of an enterprise that became one of the world’s largest automakers. Signor Anelli was a retired officer, and in his company, he established army discipline and strict order. Soon after visiting the head of FIAT enterprises Henry Ford in Turin was installed the first car assembly line in Europe. During the First World War and the first postwar years, the concern was engaged in the production of aeroplanes and tanks. In 1919-1920. Fiat plants survived a series of serious strikes organized by the Communists Antonio Gramsci and Palmiro Togliatti. In fact, he returned to the management of the concern Giovanni Agnelli only after Benito Mussolini came to power.
In the 1920s and 40s, Fiat’s factories had a wide range of industries, ranging from tractors, cars, armoured cars, tanks, engines and aircraft engines to military aircraft (fighters, bombers, transport aircraft) and other weapons. The automobile plants’ main location was in northern Italy in Turin and its suburbs Lingotto, aviation unit Fiat Aviazione in Colleferro, a unit of railway equipment the Fiat Ferriovaria in Turin. In the Second World War, since 1943, Fiat factories, which were important strategic military targets, were bombarded by Anglo-American aircraft.
In 1945, Giovanni Agnelli, Sr., as a supporter of the fascist regime, was removed from control. Shortly thereafter, Giovanni Agnelli died.
Simultaneously with Agnelli, in 1945, Fiat Vittorio Valetta was removed from management and chief executive officer of Fiat. But after the nationalization of Fiat in 1946, Vittorio Valletta was appointed president of the company.
In 1966, Vittorio Valletta signed an agreement on providing technical assistance for the organization in the USSR of the production of the Fiat 124 car, known in our country as the VAZ-2101. In the same year, the Agnelli family regained a controlling stake in Fiat, and J. Agnelli Jr. became president of Fiat.
In 1969 a group of companies, Fiat, gained control of the Lancia car manufacturer, founded in 1906, Vincenzo Lancia (Vincenzo the Lancia ). In 1979, Autobianchi and Ferrari were included in the holding; later, the brands Maserati and Alfa Romeo were absorbed. By the 1980s, Fiat actually became the monopolist of the Italian automotive market.
In the 1980s, and especially in the 1990s, the prestige of the Fiat brand dropped dramatically due to reliability problems. In 1984, Fiat was forced to withdraw from the US market in 1989 – from the Australian market. In the late 1990s, Fiat Auto (the automotive division of the concern) became unprofitable. Record losses reached in 2002 – 4.2 billion euros. In January 2003, the permanent president of the company, J. Angielli Jr., died. However, in 2005, for the first time in a long time, Fiat could end the year with a profit. In 2006, the share of Fiat in the European market rose to 7.6%. In 2007, the net profit of the group Fiat grew by 78% – up to 2.05 billion euros. In 2007, Fiat Veicoli Commerciali underwent a rebranding at Fiat Professional”. In 2008, due to the global economic crisis, the group’s profit declined, but Fiat’s share on the European market rose to 8.3%.
In 2009, the concern again faced serious financial difficulties. The losses of the Fiat concern for the first half of 2009 amounted to 590 million euros. A year earlier, the company received a net profit of 1.07 billion euros. The net loss of the group, Fiat, for the whole of 2009 amounted to 838 million euros.
After the bankruptcy of the Chrysler concern in May 2009, part of the shares and the concern management were transferred to the Fiat concern. In early 2014, Fiat negotiated full control of Chrysler. The value of the transaction will be 3.65 billion dollars.
Unlike cars, Fiat has traditionally strong positions in the field of commercial vehicles. In April 2009, the Fiat Professional brand set a historic sales record, reaching a share of 14.9% in the Western European market. This figure brought Fiat to first place among manufacturers of commercial vehicles.
International award European car of the year, Fiat got the company 12 times more than any other company. List of Fiat cars that have become the European car of the year :
1967: Fiat 124
1970: Fiat 128
1972: Fiat 127
1984: Fiat Uno
1989: Fiat Tipo
1995: Fiat Punto
1996: Fiat Bravo / Brava
2001: Fiat Stilo
2004: Fiat Panda
2008: Fiat 500