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Fiat History

FIAT, an acronym for Italian Automobile Factory of Turin, is an Italian automobile manufacturer, engine manufacturer, financial and industrial group based in Turin in the region of Piedmont. Fiat was founded in 1899 by a group of investors including Giovanni Agnelli. During its more than century long history, Fiat has also manufactured railway engines and carriages, military vehicles and aircraft. As of 2009, Fiat was the world's ninth largest carmaker and the largest in Italy.

Fiat-based cars are built around the world. Outside Italy, the largest country of production is Brazil, where the Fiat brand is market leader. The group also has factories in Argentina and Poland and a long history of licensing its products for production in other countries. Joint venture operations are found in Italy, France, Turkey, India, Pakistan, China, Serbia and Russia.

In September 2010, shareholders approved a plan to split Fiat's capital goods businesses from the group. Agricultural and construction equipment manufacturer CNH Global NV, truck maker Iveco and the industrial and marine division of Fiat Powertrain Technologies were spun off into a new group on 1 January 2011. The parent company, Fiat Industrial S.p.A., was listed on the Milan stock exchange on 3 January 2011.

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