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Fiat
Fiat S.p.A., is an Italian automobile manufacturer, engine manufacturer, financial and industrial group based in Turin, Northern Italy. more...
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Founded in 1899 by a group of investors including Giovanni Agnelli, the company name FIAT is an acronym for Fabbrica Italiana Automobili Torino (Italian Automobile 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 besides Italy, the biggest industry of the company outside Italy is in Brazil (best seller ), also has factories in Poland 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
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
Fiat Group is the largest automobile manufacturer in Italy, with a range of cars starting from small Fiats to sports cars made by Ferrari. Car companies includes Fiat Group Automobiles S.p.A, Ferrari S.p.A., Iveco S.p.A. and Maserati S.p.A.. The Fiat Group Automobiles S.p.A consist companies: 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 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
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
Read more at Wikipedia.org
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