Fiat, the famous Italian car manufacturer was founded in 1899, by a group of investors including Giovanni Agnelli. The new company was known as Fabbrica Italiana di Automobili Torino and Agnelli was its first managing director. Agnelli was to be associated with Fiat until his death in 1945. Indeed he was very much the inspiration behind it, having seen the potential of the motor car a year before the founding of Fiat following a meeting with Count Emanuele Bricherasio di Cacherano who was seeking investors in the new motor car industry.
Commercially Fiat had a steady start and by 1903 was in profit. It rolled out 135 vehicles that year. But just thirty six months later production had mushroomed almost tenfold. Fiat became a public company on the Milan stock exchange and Agnelli strengthened his hold on the company by rapidly increasing his shareholding. The business continued to grow apace and by the end of the First World War in 1918 it was the biggest company in Italy. Two years later Agnelli became chairman of the company.
The first car to be produced by Fiat was the 3 CV with a 697cc engine. Only eight were constructed. By 1903 the company was beginning to diversify and produced its first lorry and Within five years had started exporting to the United States and built its first aeroplane. Continue reading ‘A Pre-War History of Fiat’ »