A Brief History of Fiat
If you’re a fan of European cars, you are definitely familiar with Fiats. The first Fiat (Fabbrica Italiana di Automobili Torino) plant opened in Italy in 1900 with 35 staff members making 24 cars. By 1903, Fiat had some success, making some profit and producing 135 cars. Fiat also produced its first truck that year. In 1906, production grew to 1,149 cars. The company then went public at the Milan Stock Exchange. In 1908, the first Fiat was exported to the United States and Fiat produced its first aircraft engine. Fiat taxis also became popular around Europe, and by 1910, Fiat was the largest automotive company in Italy. That same year, a Fiat plant was built in Poughkeepsie, New York, by the newly founded American Fiat Automobile Company. Owning a Fiat was a sign of distinction; the price of a Fiat in the United States was $6,400 in 1918, compared to the $525 it would take to own a Ford Model T. After World War I, Fiat produced its first tractor, the 702. Fiat had an 80% market share in Italy by the 1920s.Â