To weather the storm, Fiat invested in the modernization of its facilities and restructured its organization, creating the holding company Fiat SpA that oversees the Auto, Ferroviaria (railway), Avio (aeronautical), Veicoli Industriali (commercial vehicles) and Trattori (tractors) divisions.
Industrial peace, yes, but...
The 1980s were born under the sign of common sense, and Fiat concentrated on innovating and improving the quality of its products. The Fiat Uno (1983) was followed by the Tipo (1989 Car of the Year) and the Punto (1995 Car of the Year). Alfa Romeo, struggling with serious problems, joined the Fiat Group, with Maserati close behind in 1993.
However, this relative peace disguised a deeper malaise stemming from the intense competition between automakers the world of over. To survive, independents like Fiat Auto had to use their ingenuity. With the death of Agnelli, the founder's grandson, Fiat and automotive Italy found themselves at a crossroads. Would they be better off yielding the auto division to GM, who held 20% of its shares? If not, who would be the visionary that would save their tarnished image?
New generation and rebirth
The task fell to Luca di Montezemolo, chairman of Ferrari and Enzo's successor, and Sergio Marchionne in 2004. The dynamic duo proceeded to completely transform the Fiat Group, particularly its automotive operations.
In a skilful gamble, Fiat forced GM to give up its shares to the tune of a few billion dollars, which filled the coffers of the Italian giant and helped it redefine the calling of its various brands: Fiat became master of the small car and Alfa Romeo of the affordable sports car, while Maserati was reborn under Ferrari's wing and continues to reign over the luxury automobile market.
Today, Fiat is storming the last international market it is still absent from, the U.S. and Canada. And our Canada is well known to Sergio Marchionne, who started his professional career here (in 1983), graduated from the Universities of Toronto, Windsor and York and has dual Canadian-Italian citizenship.
Will Fiat succeed where Daimler-Benz failed? Will Chrysler be headed by an Italian Canadian? Will Fiat become a North American automaker, saving hundreds of thousands of jobs in the process? The next few months will undoubtedly tell.
photo:Fiat
Industrial peace, yes, but...
The 1980s were born under the sign of common sense, and Fiat concentrated on innovating and improving the quality of its products. The Fiat Uno (1983) was followed by the Tipo (1989 Car of the Year) and the Punto (1995 Car of the Year). Alfa Romeo, struggling with serious problems, joined the Fiat Group, with Maserati close behind in 1993.
However, this relative peace disguised a deeper malaise stemming from the intense competition between automakers the world of over. To survive, independents like Fiat Auto had to use their ingenuity. With the death of Agnelli, the founder's grandson, Fiat and automotive Italy found themselves at a crossroads. Would they be better off yielding the auto division to GM, who held 20% of its shares? If not, who would be the visionary that would save their tarnished image?
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| Fiat Nuova Cinquecento |
New generation and rebirth
The task fell to Luca di Montezemolo, chairman of Ferrari and Enzo's successor, and Sergio Marchionne in 2004. The dynamic duo proceeded to completely transform the Fiat Group, particularly its automotive operations.
In a skilful gamble, Fiat forced GM to give up its shares to the tune of a few billion dollars, which filled the coffers of the Italian giant and helped it redefine the calling of its various brands: Fiat became master of the small car and Alfa Romeo of the affordable sports car, while Maserati was reborn under Ferrari's wing and continues to reign over the luxury automobile market.
Today, Fiat is storming the last international market it is still absent from, the U.S. and Canada. And our Canada is well known to Sergio Marchionne, who started his professional career here (in 1983), graduated from the Universities of Toronto, Windsor and York and has dual Canadian-Italian citizenship.
Will Fiat succeed where Daimler-Benz failed? Will Chrysler be headed by an Italian Canadian? Will Fiat become a North American automaker, saving hundreds of thousands of jobs in the process? The next few months will undoubtedly tell.
photo:Fiat
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