Ocean Park Auto services and repairs all models of Fiats
Fiat was founded in 1899 by a group of investors, including Giovanni Agnelli. During its more than century-long history, Fiat has also manufactured railway engines and carriages, military vehicles, farm tractors, and aircraft. In 2013, Fiat (together with Chrysler) was the second largest European automaker by volumes produced, and the 7th in the world ahead of Honda, PSA Peugeot Citroën, Suzuki, Renault and Daimler AG. Fiat S.p.A. (Fabbrica Italiana Automobili Torino) is the parent company of the Fiat Group and, since July 2011, also the majority shareholder in Chrysler
Fiat Chrysler Automobiles NV will become the holding company for Fiat Chrysler Automobiles. The announcement came just a week after Fiat’s acquisition of 100% of Chrysler Group LLC on 21 January 2014.
The new holding company is incorporated in the Netherlands. The operating activities of the new group will remain unchanged, with manufacturing, design and engineering facilities remaining in Turin, Italy, and Auburn Hills, Michigan (and other locations worldwide, including Canada, India, Mexico, Brazil, Argentina, Poland and China). This new group resulting from the integration of Fiat and Chrysler will be the seventh largest automaker in the world
- 1899 – Fabbrica Italiana Automobili Torino (FIAT) founded.
- 1900 – First Fiat plant opens with 35 staff; makes 24 cars.
- 1969 – Fiat buys Lancia car maker and half of Ferrari.
- 1973 – Fiat suffers first operating loss as result of strikes and the first oil price shock.
- 1976 – Libya buys just under 10 percent of Fiat.
- 1986 – Fiat beats Ford to buy Alfa Romeo from the Italian government, making it Europe’s largest automaker. Libya sells its stake back to the founding Agnelli family and a consortium led by investment bank Mediobanca.
- 2000 – Banks urge Fiat to sell Fiat Auto to Daimler Chrysler. In July, Fiat prefers to sell 20 percent of Fiat Auto to GM for $2.4 billion in GM stock.
- 2002 – Fiat asks for crisis status from government; says to lay off 8,100 workers and shut down its Sicilian plant.
- 2003 – Gianni Agnelli dies; brother Umberto takes over as head of family holding; a year later, Umberto dies.
- 2004 – Fiat names turnaround expert Sergio Marchionne to be its fifth chief executive in two years.
- 2005 – Fiat and GM dissolve five-year partnership with the U.S. auto giant paying Fiat 1.55 billion euros in cash to avoid having to buy loss-making Fiat Auto.
- 2007 – Fiat says its key auto unit turned a profit in 2006, the first since 2000. Fiat unveils a new version of the Cinquecento in a return of the tiny, iconic car out of production for 32 years.
- 2009 – Fiat unveils a preliminary deal to take 35 percent in Chrysler LLC in exchange for access to its technology and overseas markets. Fiat obtains a 1 billion euro credit line from banks. Fiat announces a first-quarter trading loss of 48 million euros. Chrysler and Fiat confirm a global strategic alliance as Chrysler files for Chapter 11 bankruptcy.
- 2010 – Twin Clutch Transmission) technology and the TwinAir, the world’s first high-tech two-cylinder engine. John Elkann becomes Chairman of Fiat. The company launches two important innovations, the TCT (In April, there is the debut of the Alfa Romeo Giulietta and the 500,000th unit of the new 500 rolls off the production line.
- 2011– the demerger takes effect on January 1st. Under the new structure, Fiat consists of FGA, Ferrari, Maserati, Magneti Marelli, Teksid, Comau and Fiat Powertrain Technologies (the “Passenger & Commercial Vehicles” powertrain business).
- 2011- It emerged that Fiat could actually increase its stake in Chrysler Group to more than 70 percent through the exercise of further options.
- 2012 – Fiat released press info that the ownership has increased to 58.5%. The stake was further increased to 68.49% in July 2013. On 1 January 2014, Fiat announced it would be acquiring the remaining shares of Chrysler owned by the VEBA worth $3.65 billion.
- 2014 – It was announced that Fiat S.p.A. and Chrysler Group LLC would be merged into a new holding, Fiat Chrysler Automobiles NV, incorporated in the Netherlands with tax domicile in the UK.