Fiat SpA, produce cars and engines and has a financial arm. Based in Turin, Northern Italy, it was founded in 1899 by a group of investors including Giovanni Agnelli. The is an acronym for Fabbrica Italiana Automobili Torino (Italian Automobile Factory of Turin) and it also means 'let there be' in Latin. Fiat was also an aircraft manufacturer at one time.
Fiat-branded cars are constructed all around the world. There are factories in Italy, but also Poland, Brazil (best seller) and Argentina. There are also joint ventures in France, Turkey, Egypt, South Africa, India and China.
The Agnelli family have kept a hold on the power reins over much of the company's history. Agnelli's grandson, Gianni Agnelli, was Fiat chairman from 1966 until his death on January 24, 2003. However, from 1996, he only served as an "honorary" chairman, while the real power man was Cesare Romiti. Umberto Agnelli took from 2002 to 2004 and after Umberto Agnelli's death on May 28, 2004, Luca Cordero di Montezemolo was named chairman. Agnelli heir ,John Elkann, became vice chairman at age 28 and other family members are on the board.
The company as a producer of cars, industrial and agricultural vehicles. Over the years there has been diversification into many other fields including other sectors of industry and financial services. It is Italy's largest industrial concern and also has significant worldwide operations, operating in 61 countries with 1,063 companies that employ over 223,000 people, 111,000 of whom are outside Italy.
Fiat Group is the largest automobile manufacturer in Italy, with a wide range of cars including some that are household names, like the Fiat Panda and Punto. Fiat own other car marques, including Ferrari SpA and Maserati SpA, Lancia Automobiles SpA, Alfa Romeo Automobiles SpA, Abarth & C. SpA, and IVECO SpA.
The European Car of the Year award, Europe's premier automotive trophy for the past 40 years, has been awarded eleven times to the Fiat Group, more than any other manufacturer.
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Check Fiat insurance groups - select a model to start
Whether you currently own a Fiat or you are considering buying a model from
the Fiat range, it helps if you understand insurance groups and how they affect
your premium.
Insurance group ratings take into account performance, security, damage and parts costs, new
car values, availability of body shells and repair costs and times. What you'll typically
find is that cars in lower insurance groups attract a lower premium, whilst cars in higher
insurance groups attract a higher premium - usually because they are high performance models
or have high repair or replacement costs. Just choose a model to check its insurance group ratings.