Formation of Fiat Group Automobiles

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Written by Administrator

Wednesday, 31 January 2007

On February 1, 2007, Fiat Auto will change name to "Fiat Group Automobiles SpA." Four new companies will be formed at the same time, 100 per cent owned by Fiat Group Automobiles SpA: "Fiat Automobiles SpA," "Alfa Romeo Automobiles SpA," "Lancia Automobiles SpA," and "Fiat Light Commercial Vehicles SpA."

These changes are consistent with the new corporate culture at the Fiat Group. In particular, they reflect two strategic decisions as to how to approach the business. On the one hand, the Group will exist as a unified whole, and on the other hand, each company will be characterized by the specific nature of the respective operating sectors and individual brands.

The Fiat, Alfa Romeo, Lancia, and Fiat Light Commercial Vehicles brands each have a specific identity with defined, recognized characteristics, and apply distinct commercial and market policies. Formation of these four new companies must be interpreted in view of the growing distinctiveness of the brands, enhanced value, and reinforcement of their competitive capacities.

The objective of the changes announced today is to reinforce the individual brands within the scope of a single and stronger automobiles sector.

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