Founded in year 1899, Fiat a 117 year old company that was founded by Giovanni Agnelli, in Turin northern Italy. Over the years, this corporate has marked a dominating presence worldwide in Automobile manufacturing.
This Italian company is now referred to as FCA or, Fiat Chrysler Automobiles a multinational corporation that’s among the highest ten automakers within the world.
SHORT HISTORY
FCA (Fiat Chrysler Automobiles) was established in late 2014 by merging Fiat S.p.A (Fabbrica Italiana Automobili Torino), into a replacement company called Fiat Chrysler Automobiles N.V., incorporated within the Netherlands and headquartered in London for tax purposes.
FCA is the successor to Fiat S.P.A. FCA Italy and FCA USA; the 2 main subsidiaries that help FCA perform its mass market automotive operations.
FCA’s crowning jewel is the luxury brand, Maserati. FCA also operates within the medium and advertising fields through its Italiana Editrice subsidiary and has an interest in RCS Media Group.
PROCESSES AND OPERATIONS
The company is headed by the CEO Michael Manley and therefore the executive management team which incorporates twenty two employees working between Auburn Hills, Michigan and Turin, Italy.
FCA’s operational activities such as manufacturing, design, and engineering facilities are in three countries i.e. Brazil, Poland, and China.
PROGRESSION
The integration between Fiat and Chrysler happened within the year 2009 Chrysler filed for bankruptcy and reorganization on 30th April 2009.
On June 10, 2009, Fiat Chrysler Automobiles arisen from the bankruptcy proceedings with the United Auto Workers pension fund, and Fiat, and Canadian governments as the principal owners.
Over subsequent few years, Fiat went on to gradually acquire the bulk ownership of the corporate, and on January 21, 2014, Fiat completed the acquisition of the remaining 41.5% from the United Auto Workers.
This acquisition made Chrysler a wholly owned subsidiary. The acquisition cost Fiat US$4.9 billion dollars, with a further US$5.5 billion dollars as pension liability.
Fiat S.P.A. merged into Fiat Chrysler Automobiles (FCA) in October 2014 following approval from the board and respective shareholders, which they got in June of 2014 and on 1st August 2014, respectively.
The first five year plan was announced by FCA on 6th May 2014. The corporate expects sales to travel up to 7 million units, revenues to €132 billion, and net to €5 billion. It was estimated that industrial debt will touch €11 billion in 2015, and reduce to €0.5 – 1 billion by end of 2018.
FCA Group updated its business model, plans and targets in January 2016. Much of the worldwide growth is going to be focused around Jeep, thanks to its high visibility globally also because the growing SUV segment in developing markets.
FCA are going to be repositioned because the company’s primary brand in North America and shall go up against automobile maker giants like Ford, Chevrolet, Toyota, and Volkswagen. Dodge, on the opposite hand, is to specialize in performance based vehicles.
Alfa Romeo of FCA become the company’s premium brand. This brand went against the likes of Mercedes Benz, BMW, and Audi. The company’s ultra-luxury brand is going to be Maserati, which is predicted to competing well with Bentley and Rolls-Royce.
ACCOMPLISHMENTS OF FCA GROUP
Fiat may be a unique automobile conglomerate. Only a few people would remember of the very fact that within the past, Fiat manufactured carriages, railway engines, tractors, military vehicles, and aircraft too. To top it all, Fiat, at just one occasion, also owned and operated a resort within the Alps that was visited by over 25,000 guests a year.
The Fiat 500 is claimed to be one among the world’s most recognized car. It’s said that regardless of where an individual could be within the world, he will find a minimum of one car event that’s dedicated to the Fiat 500 alone.
Fiat also remains Brazil’s top car selling brand aside from Italy.
Following companies are under the umbrella of FIAT:
- Comau Robotics
- Magnetti Marelli
- Teksid
- Mopar
- FCA US
- FCA Italy
- Maserati
POLCIES FOR PUBLIC & INTERNAL EMPLOYEES
FIAT FCA Group is sensitive about all its stakeholders. All manufacturing plants are designed keeping the environment safety in mind.
The corporate regularly holds competitions to award innovation and leadership skills. It is a dynamic culture, yet very distinctive. It teaches the team to embrace change and think bold and larger, regardless of what the role may be.
The salaried employees of Fiat FCA have the chance to settle on from an in depth package of advantages and services which are available from day one. They include healthcare, life insurance, retirement & savings plans; they also get vehicle discounts and private development options.
CONCLUSION
FCA is noticeably a corporation that has remained deep-rooted in its values and may be a brand that carries the Italian legacy proudly.
Its global presence has made it a dominating player within the Automobile industry, and a presence that’s only set to expand.
