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Fiat: The Festa Is Over

In: Corporate Cultures And Global Brands

Author

Listed:
  • Albrecht Rothacher

    (Asia-Europe Foundation, Singapore)

Abstract

In its heydays in the mid 1980s, FIAT produced close to 4 million cars, held a 60% share of the Italian car market, and as a group produced 5% of the GDP of Italy. With a 14% share of the EU's car market, it was Europe's largest car producer by volume, even ahead of Volkswagen. Its political influence until die early 1990s permitted import protection from Japanese and Korean competitors in the Italian market, the much delayed obligatory introduction of the catalytic converters, and plenty of public subsidies, including scrapping funds introduced by the government of Romano Prodi in 1997 (then inducing customers to buy new Fiats with catalysts). Not by accident La Stampa, the Fiat owned daily, had led the campaign to vote for Prodi's left of centre Ulivo list. When Giovanni Agnelli, Fiat's honorary chairman and capo famigli of the owning clan died in January 2003 at age 81, he was mourned in the streets of Turin by 200,000 people. Obituaries likened him to an “uncrowned King of Italy”…

Suggested Citation

  • Albrecht Rothacher, 2004. "Fiat: The Festa Is Over," World Scientific Book Chapters, in: Albrecht Rothacher (ed.), Corporate Cultures And Global Brands, chapter 16, pages 225-237, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812563057_0016
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