
| Giovanni Agnelli founded FIAT in 1899 in association with some other investors. FIAT is an acronym for 'Fabbrica Italiana Automobili Torino' (Italian Automobile Factory of Turin) is an automobile manufacturer, engine manufacturer, financial and an industrial group. Fiat has also manufactured tanks and aircraft. The FIAT Group owns marques like Ferrari, Alfa Romeo, Lancia, Maserati and Abarth while also controlling brands like Iveco. The company entered the Indian automobile market in 1951, unveiling its first car. Later, it launched Uno in India, in 1982. The launch of Palio in 1997, did not impress the Indian consumers. In India this Italian car-maker has not really had the breakthrough it always hoped for, and great products like the Palio and Siena lost market share in the Indian market. Starting afresh with a joint venture with Tata Motors Limited, Fiat India Pvt. Ltd. was incorporated in January 1997, in hopes to revive its Indian operations. Now, the automaker is aspiring to gain a superior position in the automobile industry. It has launched Palio Stile (hatchback), Palio Multijet (hatchback), Fiat 500 (two-door coupe) and Linea (sedan) and is working towards bringing more cars to India. It roped in Sachin Tendulkar as one of its brand ambassadors, and Michael Schumacher appeared in an ad for the Palio. |