FiatFiat 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.
Since the first decades of the 20th century the first Fiat units have been driven through Argentina. In 1919 a Turin Fiat branch is settled down in Buenos Aires, and four years later, in 1923, Fiat Argentina S.A. Is set up for sale and technical back up of cars and trucks imported from Italy. In 1948 the Fiat delegation for Latin America (DAL) is created, in order to study the possibility of helping with technicians and working capitals to our country development in the main fields of agriculture, energy and transport. The central office is set up at 764 Sarmiento st., Buenos Aires. Fiat initial activity in Argentina was related to the agriculture department. On that purpose, in 1949 Agromecanica S.A.C.I.F. Is set up for the marketing, importation and technical backup of Fiat tractors. Other activity branch was the maintenance and technical back up of big diesel motors. The company in charged of this activity, Fidemotor was founded in 1951.
In 1952, Fiat Italycomes to a technical back up agreement with the tractors factory belonging to the sate owned company IAME (State Aeronautical and Mechanical Industries).
First the agriculture and the railway
In 1954, Fiat Someca Construcciones Cordoba (later Fiat Concord) is set up for the production of tractors through an agreement with IAME and Sevitar. This year, the plant is built in Ferreyra location, in Cordoba.
Next year, the plant of Grandes Motores Diesel is set up in the same city. In 1956 Fiat gets a bid from Ferrocarriles Argentinos to the supply of 300 diesel locomotors and their trailers. This agreement gave rise to Materfer constitution, a company destinated to the production of railway rolling material. This plant is also built in Ferreyra, Cordoba, and it is opened in 1958.
On september 30th, 1959, the argentinian government approves the Fiat proposal to invest 4.5 million dollars in building a plant in Caseros location. On april 8th, 1960 a light grey Fiat 600 D turns into the first argentinian Fiat.
Soon afterwards, it is joined to the production line the 1100, completed among both models a production of 4,000 units during this year. In 1963, the production of Fiat 1100 is discontinued and the Fiat 1500 Gran Clase is launched into the market. Its state version is known during the following year. In1964 the exportation of car parts to manufacture in Chile begins.
The range is increased with the pick up Multicarga, 1500 coupe and the Fiat 770 coupe models, that in 1966 changes its name for 800 and the spider version is added.
Fiat, leader of the market
In 1967, Fiat leads the local market with a share of the 23% and a production which exceeds the 40,000 units. The production gets 50,000 units in 1969, when the Fiat 1600, successor of the 1500 model, is launched to the market. This year the first heavy trucks 619 n begings to be produced in Ferreyra location.
In 1970, the coupe 1600, an exclusive development for Argentina is launched. The company production kept on growing and in 1971 with the launching of the Fiat 128 exceeded the 60,000 units a year.
IAVA S.A. (Argentinian Industry of Advanced Cars), company destined to the construction of special cars is set up. Next year, the Fiat 1600 is replaced by the Fiat 125. The exportation of autoparts for car manufacture is carried out in Uruguay.The exportation of parts to the head office in Turin and 128 motors model to Yugoslavia for Yugo model manufacture is started. Colombia is another destination of Fiat exportations, too.
Since the middle of the sixties the Fiat 600 is the most sold car in the country, and in 1976 it breaks the record with 250,000 produced units. Based on its mechanics the Fiat 133 appears in 1977.
Sevel and the merger with Peugeot
In 1980, the merger with Peugeot is carried out, setting up Sevel s.a. In 1982 the Fiat 147 is manufactured locally. In 1985 Regatta mark is launched into the market and the range is increased in 1987 with the Duna, and in 1989 with the Fiat Uno.
In 1995 Fiat Auto decides to retake the control of its argentinian branch and it announces a 600 million dollars investment for the building of a new plant in Cordoba. In only 18 months, on december 20th, 1996 the plant is officially opened. In april 1997 the Siena and Palio models start being produced.
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.
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