Fiat was founded in Italy in 1899, with its first factory opening in 1900. The first car produced there, the 3/12 HP, reportedly lacked a reverse gear. In 1908, Fiat began selling vehicles in the United States. At the time, Fiat was an upscale brand and its models drew prices four to 10 times that of a Ford Model T.
In 1969, Fiat purchased Lancia and Ferrari. Its sales peaked in 1979, when
...Fiat was founded in Italy in 1899, with its first factory opening in 1900. The first car produced there, the 3/12 HP, reportedly lacked a reverse gear. In 1908, Fiat began selling vehicles in the United States. At the time, Fiat was an upscale brand and its models drew prices four to 10 times that of a Ford Model T.
In 1969, Fiat purchased Lancia and Ferrari. Its sales peaked in 1979, when its small cars became popular due high gas prices arising from Iranian Oil Crisis. But sales dropped after the crisis ended, and Fiat withdrew from the U.S. market by 1984. Fiat acquired Alfa Romeo in 1986 and Maserati in 1987.
Competition from other automakers in the global market seemed to be driving Fiat into the ground as recently as the turn of the century, but CEO Sergio Marchionne seems to have resurrected its fortunes since taking over in 2004. On Jan 20, 2009, Fiat acquired a 35-percent stake in Chrysler that could grow to as much as 55 percent. Fiat will provide drivetrains to help Chrysler produce small, fuel-efficient cars and will get access to the Chrysler's U.S. dealer network in return. Ferraris and Maseratis are already sold in the U.S.; we may receive as many as seven Fiat and/or Alfa Romeo models soon as well.
Those could end up being very good cars. Fiat has won the European Car of the Year Award 12 times, either directly or through one of its acquired automobile companies, more than any other carmaker. Fiat currently builds cars in countries all around the world, including Brazil, China, France, Turkey, Egypt, South Africa, and India.
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