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Fiat

Fiat
Company nameFiat S.p.A.
Company typeSocietà per azioni
IndustryAutomotive, media, financial services, metallurgy
Founded11 July 1899 in Turin, Italy
Founder(s)Giovanni Agnelli
HeadquartersTurin, Italy
Key peopleJohn Elkann (Chairman), Sergio Marchionne (CEO)
ProductsAutos, auto parts, financing, newspaper publishing, ad sales
Production output 2,094,048 units (automobiles and LCVs, 2010)
Revenue(+) -35.88 billion (2010)
Operating income(+) -992 million (2010)
Net income(+) -179 million (2010)
Total assets(+) -73.44 billion (end 2010)
Total equity(+) -12.46 billion (end 2010)
Employees137,800 (end 2010)
SubsidiaryList...
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Automobiles:
* Ferrari S.p.A. * Maserati S.p.A. * Fiat Group Automobiles S.p.A.: ** Abarth & C. S.p.A. ** Alfa Romeo Automobiles S.p.A. ** Fiat Automobiles S.p.A. ** Fiat Light Commercial Vehicles S.p.A. ** Lancia Automobiles S.p.A. * Chrysler Group LLC (53.5%) ** Chrysler ** Dodge ** Jeep ** Ram Trucks ** Mopar ** Global Electric Motorcars
Components and production systems: * Fiat Powertrain Technologies S.p.A. * Magneti Marelli Holding S.p.A. * Teksid S.p.A. * Comau S.p.A.
Other business: * Itedi S.p.A. ** La Stampa

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FIAT, an acronym for Fabbrica Italiana Automobili Torino ( ), is an Italian automobile manufacturer, engine manufacturer, financial, and industrial group based in Turin in the Italian 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 (not including Chrysler ) 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 production of its products in other countries. It also has numerous alliances and joint ventures around the world, the principal one's being located in Italy, France, Turkey, Serbia, India and China.

Agnelli's grandson Gianni Agnelli was Fiat's chairman from 1966 until 1996; he then served as honorary chairman from 1996 until his death on 24 January 2003, during which time Cesare Romiti served as chairman. 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 28 May 2004, Luca Cordero di Montezemolo was named chairman, with Agnelli heir John Elkann becoming vice chairman (at the age of 28), and other family members also serving on the board. At this point, CEO Giuseppe Morchio resigned, and Sergio Marchionne was named to replace him on 1 June 2004.

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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