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Fiat is the label name of the largest Italian automaker in Turin, north Italy. Fiat is an acronym for Fabbrica Italiana Automobili Torino (Italian autofactory of Turin). In addition the word "Fiat" is Latin and is called "it becomes translated". Besides Fiat the parent company of CNH, the largest tractor manufacturer, is world-wide and IVECO the second largest European truck - manufacturers and the largest producer of diesel engines world-wide.
The company was created 1899 of eight initial members, among them Sen. Giovanni Agnelli, the grandfather of the past president Gianni Agnelli. From 1960 to today Fiat developed to an international group of firms, which manufactures more by far than only car. Fiat is present in the insurance transaction as well as in the bank landscape and manufactures among other things construction units for nuclear power stations. The moreover Fiat was just as present in the airplane and aircraft engine business as in the building of enormous pilot power stations for artificial lakes. Since beginning Fiat was also well-known manufacturer of marine engines. Also the slope course technology of German ICEs comes partly from FIAT (Ferroviaria), even streetcars belonged and belongs this very day to the program. In the sixties the company in the automobile business animated first the mark Autobianchi again, with which relatively risky, because unusual new developments like the Primula, for which A111 and the smaller A112 were connected, which exhibited a front wheel drive in place of the up to then usual rear propulsion and so that already at the beginning of the 1970er years invented the nowadays usual model family of the front-propelled combination sedan in the compact and middle class. The Fiat 850 became an enormous sales impact as sedan, or as open Spider. At all the 1960er was years the success years of the Fiat company: One acquired 1966 a participation in Ferrari, which showed up in the anniversary sport model Fiat Dino and Spider. One acquired 1969 the darbende and highly which was to blame for mark Lancia, which could not apply sufficient capital for the development of new models despite good reputation simply any longer and therefore the fall was geweiht. With the new models Fiats 128 and 127 one had developed 1969 and 1971 for of Europe car of the yearly and despite appearing problems in quality large sales impacts. In addition the Fiat proved 124 since 1966 as large sales impact. Beside production in Italy it was manufactured at that time under license as Tofas Murat in Turkey, as Lada 1200 in the Soviet Union and as Seat 124 and/or 1430 in Spain. Besides one developed productions in Argentina and Brazil, in addition the Fiats 126 and the pole ski Fiat 1500 under license in Poland. In addition one decided co-operation with Peugeot, with Saab, with Alfa and Ferrari. Beside the mass production models one developed Fiats to the hundred-year anniversary starting from 1966 special models like the Dino and Spider, Fiat 124 sport and sport Spider as well as not least the large Fiat 130 as sedan and At the beginning of the seventies one was in competition to VOLKSWAGEN the largest automobile company in Europe, which could make advertisement with the Slogan: "Fiat - each size of, each achievement, from 18 to 180 HP" and rightfully on it referred, the only manufacturer to be, that could offer a so extensive product range.
At center of the 1970er years began the descent; only creeping, then ever faster. Already the Fiat 132 could not replace the Fiat 125, still less to the Fiat 131 Mirafiori the Fiat 124. The Fiat Ritmo did not reach the success of the Fiat 128 in competition to the VOLKSWAGEN gulf, and the Fiat UN was more than only successful, however much to for a long time through-dragged up to the separation by the Fiat Punto. The center of the 1980er years missed model politics as well as quality lacking of the vehicles fell Fiats into a deep crisis. Even success models like the Fiats Punto or the Fiat Panda could not prevent the purge of the company. The Fiat Tipo, the Tempra, the Croma, as well as the successors Bravo/Brava and Marea could never attach to earlier successes. Other new models like the new Fiat Multipla, the Cinquecento or Seicento, the Doblo, the Palio, the Ulysse remained outsider models, which could not never attach to the mass success of earlier models and measure also with the success of the competition. The Fiat Palio was moderately successful only in developing countries, for which it was also planned. A large problem was to be transacted that the autosection was financially go out-oiled, in order investments within other ranges. Thus in this time on the one hand of the group of agricultural machineries FiatAgri CNH with the assumptions of Ford tractors and Case Steyr was composed, on the other hand one large investments were transacted into the commercial motor vehicle section IVECO. The market share in Europe sank into the 1990er years continuously and achieved at the beginning of the new millenium critical parameters. Critics see the principal debt with Giovanni Agnelli, to that 2003 different Fiat chairmen of the board. Analysts are itself over the fact united that the grandchild of the Fiat founder damaged the enterprise by missed management politics heavily. That likewise recently the deceased last son of the Agnelli dynasty, Umberto Agnelli, led a comprehensive restructuring program around the group of Fiats to save. The family Agnelli supported the aid programme for its part with a financial syringe of 750 millions euro. Straight ones as the comprehensive structuring measures to seize began - Fiat brought new promising models like the Minivan to "Idea" with higher claims of quality on the way - deceased to 27. May 2004 with Umberto Agnelli the last grandchild of the firm founder. Investors and workers of FIATS hope now that the successor with same energy pursues the plan of the reorganization.
Fiat Ferroviaria took over 1995 the rail-mounted vehicle business of the SIG. In the year 2000 the range of rail-mounted vehicles of the Fiat company was then sold at Alstom.
On 14 February 2005 Fiat with the company general of engine agreed to do against a payment of 1.55 billion euro without its PUT option. With this Fiat GM could have obligated to take over its autosection, at which the Americans to 10% was involved already, due to an agreement from the year 2000 completely. Beyond that GM sells its remaining portion of 10%. Thus Fiat is now again complete in Italian hand. After the dissolution that increasingly restraining alliance with general of engine several new product specific industrielle co-operation were contrived - among other things with PSA, Ford and the conclusion quarter 2005 could book the passenger vehicle daughter Fiat car for the first time since four-in-quarter years again an operating profit. Also the paragraph of the new models develops promisingly. Like that the "Grande Punto" was in the first quarter 2006 the usually-sold car of Europe. In addition FIAT for the Fiat Sedici received 7000 Vorbestellungen within first 10 days, thus sold FIATS at one blow 2/3 of the intended 10,000 units to at the end of 2006. This exceeded any expectations and left even the FIAT executive committee speechless. Experts interpret this as "indications of a Turnarounds" and as "successful reorganization".
Since 15 November 2003 the Austrian was Dr. Herbert Demel of chairmen of the board of Fiats. The native Viennese, who had only taken over the guidance of the autosupplier Magna Steyr one year ago, will replace Giancarlo Boschetti at the point of the autocompany. Demel had worked for a long time for VOLKSWAGEN and was until one year ago chief executive of the Brazilian Volkswagen daughter. In its time with AUDI it made the enterprise with novelties like the AUDI TT a serious competitor opposite the restaurant rival BMW.
Herbert Demel left the enterprise after only 15 months due to a controversy with Sergio Marchionne (boss of the Fiats getting thing). Marchionne takes over for the time being the line of Fiat car. Sergio Marchionne was responsible with the negotiations with GM.
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