Fiat was founded in Italy in 1899, with its first factory opening in 1900. The first car produced there, the 3/12 HP, reportedly lacked a reverse gear. In 1908, Fiat began selling vehicles in the United States. At the time, Fiat was an upscale brand and its models drew prices four to 10 times that of a Ford Model T.
In 1969, Fiat purchased Lancia and Ferrari. Its sales peaked in 1979, when its small cars became popular due high gas prices arising from Iranian Oil Crisis. But sales dropped after the crisis ended, and Fiat withdrew from the U.S. market by 1984. Fiat acquired Alfa Romeo in 1986 and Maserati in 1987.
- Founded : July 11, 1899 in Turin, Italy
- Founder : Giovanni Agnelli
- Headquarters : Turin, Italy
- Website : http://www.fiat.com
Those could end up being very good cars. Fiat has won the European Car of the Year Award 12 times, either directly or through one of its acquired automobile companies, more than any other carmaker. Fiat currently builds cars in countries all around the world, including Brazil, China, France, Turkey, Egypt, South Africa, and India.