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FIAT Automobiles

-Aaron Hardy. FIAT Automobiles. History. Fabbrica Italiana Automobil Torino Founded in 1899 by Giovanni Agnelli Largest automotive company in Italy by 1910 80% market share by 1920 87% control of Italian car market in 1925. Other Operations. Aviation and Motorcycles

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FIAT Automobiles

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  1. -Aaron Hardy FIAT Automobiles

  2. History • FabbricaItalianaAutomobil Torino • Founded in 1899 by Giovanni Agnelli • Largest automotive company in Italy by 1910 • 80% market share by 1920 • 87% control of Italian car market in 1925

  3. Other Operations • Aviation and Motorcycles • Aviation mainly during world wars • Fiat Aviazone merger with Aerfer, 1969 • Vespa motorcycles sold in 1999 • Weapons • Rail Transport • Skiing facilities

  4. Global History • History of varying success in global community • “The most dynamic automaker in Europe… [and] may come closest to challenging worldwide supremacy of Detroit.” –Newsweek 1968 • Originally very successful in United States • Car considered luxury, similar to Mercedes • Peak Sales in 1979 • Due to changing market sales fell in 1980s • FIAT left US market in 1984

  5. Presence in Foreign States • Use of licensing • Polski FIAT • Multiple acquisitions, joint ventures, and alliances • First in 1967 • FIAT Automóveis (Brazil) • FIAT Argentina • FIAT AutomobiliSrbija

  6. Management History • Agnelli family originally controlled FIAT • Temporarily removed from 1945-1963 • Gianni Agnelli took leadership from 1963-1996 • Highly centralized management • Reorganized system in 1960s • Series of successors from 1996-2004 • Cesare Romito, Paolo Fresco, Paolo Cantarella, Umberto Agnelli, Luca Cordero di Montezemolo, Sergio Marchionne • Contributed to aging leadership, failing management styles, and decliningsuccess

  7. Sergio Marchionne • Current CEO as of June 2004 • Began demerging multiple FIAT industries and selling them to focus on automobiles • Refocused business on markets and profits • FIAT saw first profit in 17 quarters at end of 2005 financial year • Returned FIAT to Canada and the United States • Maserati first entered market in 2002 • FIAT reentered market through Chrysler

  8. Alliance with Chrysler • Global alliance announced January 2009 • Signed in April • Fiat gained 20% share of Chrysler in exchange for technologies • Both companies gained distribution networks • Original criticized greatly • Borderline illegal and unconstitutional • Chrysler capital structure substantially downsized • Lost jobs, dealerships forced to close, share-value drop

  9. FIAT in the US Today • Goal to gently re-establish FIAT over several years • First model, FIAT 500, released 2011 • FIAT Invasion • FIAT Immigrants • FIAT slowly gained more control of Chrysler • Total acquisition January 2014 • FIAT now positioned much more favorably

  10. FIAT Global Today • Second largest European automaker • Seventh in the world • Largest in Italy • Currently producing 12 brands in 80 countries • Italy is the largest producer, Brazil is second • FIAT Professional • Light commercial vehicles • FIAT Industrial • Truck, bus, and specialty vehicles

  11. FIAT Global Today • Approximately $116 billion in annual revenue • Multiple awards • 60 international awards • European Car of the Year, World Car Design of the Year, Most Innovative Engine Technology • Holds record for European Car of the Year

  12. FIAT Global Today • Main shareholders • 30.1% ExorS.p.A. (controlled by Agnelli family) • 24.9% EU institutional investors • 11.2% outside EU institutional investors • 2.6% Baillie Gifford & Company • Principle Subsidaries • FIAT Group Automobiles, Chrysler Group LLC, Ferrari, Maserati, MagnetiMarelli, Teksid, Comau

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