FIAT
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About FIAT
Fabbrica Italiana Automobili Torino, also known as Fiat, dates back to 1899 and is one of the earliest and most legendary automotive brands. Though the marque was first recognized for its racing prowess, Fiat spurred a revitalization of consumer products in Europe during the 1950s when it launched the popular 500, or the “Italian Miracle.”
In the U.S. however, Fiat’s reputation suffered from poor reliability. Its failure to manage ever-tightening emissions regulations eventually led the brand to pull out of the country in 1984.
In 2000, General Motors acquired a stake in Fiat as part of an agreement to develop compact cars for the European market. But before the project could get off the ground, financial distress suffered by GM caused the agreement to dissolve in 2005. Three years later when Chrysler went bankrupt following the financial crisis of 2008, Fiat obtained a controlling interest in the American automaker and began planning its return to the U.S. The Fiat brand is now a subdivision of Fiat Chrysler Automobiles, or FCA, which builds several nameplates in the U.S., including Ram Trucks and Jeep.
In 2012, the Fiat 500 debuted in the U.S. The company expanded the lineup rapidly, adding a cabriolet and a performance-oriented Abarth variant. Two years later, it introduced the larger, four-door 500L. Continuing to work hard selling small cars in an SUV-dominated market, Fiat launched the more capable, crossover-shaped 500X in 2016, which is built in Italy and closely related to the Jeep Renegade.
But the Italian maker of tiny vehicles still faces its share of challenges in the fickle U.S. market. It recently announced that the 500 coupe, cabrio and Abarth would not be renewed for the 2020 model year.
