FIAT Group, or Fiat S.p.A. (Fabbrica Italiana Automobili Torino), best known for Fiat cars, 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 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 cars are constructed all around the world; in Italy, Poland, Brazil and Argentina. Joint Venture productions in France, Turkey, Egypt 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 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.
Fiat is the largest automobile manufacturer in Italy, with a range of cars including the Fiat Panda, Punto, Stilo, Idea, Croma, Ulysse and DoblÚ. Car
companies are run by Fiat Auto and Ferrari. Today Fiat Auto runs well known firms like Lancia, Alfa Romeo, Autobianchi, Innocenti, Abarth, Fiat,
and Maserati. Ferrari 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 eleven times to the Fiat Group,
more than any other manufacturer.
* 1967: Fiat 124
* 1970: Fiat 128
* 1972: Fiat 127
* 1980: Lancia Delta
* 1984: Fiat Uno
* 1989: Fiat Tipo
* 1995: Fiat Punto
* 1996: Fiat Bravo/Brava
* 1998: Alfa Romeo 156
* 2001: Alfa Romeo 147
* 2004: Fiat Panda