FIAT FULL FORM
INTRODUCTION:
- Italy's largest automaker is Fiat Automobiles. The company held the position behind Common Engines and Portage for more than 20 a long time and was the world's third biggest automaker for more than 100 a long time until the auto industry emergency of the late 1980s. FCA was his eighth biggest automaker within the world in 2013, whereas Fiat S.p.A. was Europe's moment biggest automaker.
- When company manufacturing hit a record high of 1.4 million automobiles in Italy in 1970, Fiat Automobiles employed more than 100,000 people there. As of 2002, the firm produced more than 1 million automobiles at six sites in Italy, which contributed more than a third of its total sales.[4] Fiat has produced agricultural tractors, aeroplanes, railway engines, military vehicles, farm tractors, and weaponry like the Fiat-Revell Model 1914.
- Under the Fiat moniker, automobiles are made in several facilities all over the world. The biggest exporter after Italy is Brazil, where the Fiat brand controlled the market for many years. Additionally, the business has facilities in Argentina, Poland, and Mexico (where Stellates' North American facilities build Fiat-branded automobiles for sale to the US, Brazil, Italy, and other markets), as well as granted licences for its goods to other nations).
- From 1966 until 1996, Giovanni Agnelli, the creator of Fiat, served as the company's chairman; from 1996 until his passing on January 24, 2003, he was the honorary chairman. During this time, Cesare Romita served as the company's chairman. Paolo Chantarelle took over as CEO after him for a brief while, and Paolo Fresco served as chairman. In the years 2003 to 2004, Umberto Agnelli served as chairman. When Umberto Agnelli passed away on May 28, 2004, Luca Cordero di Montez molo was chosen chairman. Agnelli heir John Elkann, who was 28 at the time, was made vice chairman, and additional family members were appointed to the board. Sergio Marchionne took over as CEO on June 1st, 2004, replacing Giuseppe Morcha.
HISTROY:
Italian Automobile Factory of Turin was established in 1899 by Giovanni Agnelli and a number of investors under the name Fabric Italian Automobile Torino (F.I.A.T. In 1906, the acronymic name was altered to Fiat in both capital and lowercase. Agnelli oversaw the business until his passing in 1945, while Vittorio Valletta handled day-to-day operations. Its first automobile, the 3 12 CV, featured a 697 cc (42.5 cu in) boxer twin engine and was only produced in 24 examples, all of which had bodies by Alessio of Turin. It was a serious competitor to current Benz. Fiat made their first vehicle in 1903. The first Fiat was shipped to the US in 1908 .The first Fiat aeroplane engine was created in the same year, according to . Fiat cabs rose to fame in Europe at about the same period
The largest automaker in Italy by 1910 was Fiat, and it has remained in that position ever since. The recently built up American F.I.A.T. Car Company raised a modern office in Poughkeepsie, Modern York, the same year. At the time, having a Fiat was a sign of course. In separate to the $825 for a Entry Illustrate T in 1908 and $525 in 1918, the taken a toll of a Fiat inside the US started out at $4,000 and extended to $6,400 in 1918. All of Fiat's manufacturing had to be committed to making planes, engines, machine weapons, trucks, and ambulances for the Accomplices in the midst of World War I. The office was closed down in 1917 as a result of US rules getting to be as well grave taking after the US's section into the war
Activities:
- The group's original activities were centred on the manufacturing of automobiles, trucks, and other commercial and industrial vehicles. The group today engages in activities across a variety of industries and financial services as a result of its gradual diversification into several other domains. Largest industrial company in Italy. Additionally, it has large international activities, operating in 61 nations and employing approximately 223,000 individuals, 111,000 of whom work outside of Italy, through 1,063 firms.
- Exor S.p.A., a corporation owned by the Agnelli family, owns 30.1% of Fiat, followed by institutional investors from the EU at 24.9%, those from outside the EU at 11.2%, and Baillie Gifford & Co., a Scottish investment management firm, at 2.6%.
major subsidiaries
- The main operating subsidiaries of Fiat, both direct and indirect, are Fiat Group Automobiles S.p.A. (FGA), Chrysler Group LLC, Fiat Automates, S.A. (a subsidiary of FGA), FGA Capital S.p.A. (a JV held 50% by FGA and 50% by Crédit Agricole CF), Ferrari S.p.A., Maserati S.p.A., Magneti Marelli S.p.A., Tek.
Joint ventures and alliances
- A number of joint ventures with General Motors were formed in 2000 as a result of GM purchasing 20% of Fiat and Fiat purchasing 6% of GM. These JVs were wound back by 2005 due to issues with the relationship. The GM Fiat Small platform and the Fiat-GM Powertrain were two developments that came out of this.
- The Fiat 500 and Ford Ka are the products of a partnership between Fiat and Ford that was founded in 2005 to develop a new little automobile.
- Fiat and Mazda joined together in 2012 to design and produce a revolutionary rear-drive vehicle.