Iveco

Iveco S.p.A.
Type Subsidiary
Industry Manufacturing
Founded 1975 in Turin
Headquarters Turin, Italy
Key people Paolo Monferino CEO
Products Commercial vehicles, Military vehicles, Diesel engines
Revenue increase € 10.8 billion (2008)[1]
Employees 26,461 (2007)[2]
Parent Fiat
Website http://www.iveco.com

Iveco is an Italian truck, bus, and diesel engine manufacturer, based in Turin, Italy. It is a subsidiary of the Fiat Group, and produces around 200,000 commercial vehicles and 460,000 diesel engines annually, and for the year ended 2007 the company had €11,196 million in sales (revenues).

The name is an acronym for Industrial Vehicle Corporation, an alliance among European commercial vehicle manufacturers such as Fiat (including OM and Lancia Veicoli Speciali), Unic and Magirus.

Today the company is a significant player in the medium-duty trucks and engine markets, and is near the top for sales of passenger transport and 3.5 ton light vehicles.

Contents

History

The company is dominated by Fiat Group, and was created on 1 January 1975 by Fiat manager and mechanical engineer Bruno Beccaria (1915–2001) through the merger of five companies operating in Italy, France and Germany; Fiat Veicoli Industriali (located in Turin), OM (Brescia), Lancia Veicoli Speciali (Bolzano), Unic (Trappes) and Magirus (Ulm).

In 1990, Iveco acquired 60% of ENASA, a leading truck manufacturer and makers of Pegaso brand of commercial vehicles in Spain. This was an important step in the history of Iveco since it became a local brand in all the leading European markets. With this acquisition, Iveco expanded its manufacturing locations to Barcelona, Valladolid and Madrid in Spain.

In its early years, the company focused on rationalizing, integrating and optimizing the various manufacturing and commercial structures that had been independent until then, and the first centralized functional structure emerged. From a marketing viewpoint, these years saw the launch of the Daily (1978), the Turbo (1981) and the Turbostar (1984), three vehicles that symbolized Iveco's entrepreneurial success in Europe. In 1986 Ford's European commercial vehicle operation became part of the brand.

Iveco had to overcome a crisis in the early 1990s, fuelled by increasingly fierce competition. In order to respond more effectively to the growing specialization of the market, Iveco broke its structure down into specialist corporate units that addressed specific customers divided by product type. In those years, the company continued to boost its strategic presence in the world. In 1992 Iveco purchased the Italian company, International Trucks Australia Limited, which still plays a very important role in the Pacific Rim. And Iveco Mercosul was created in Brazil in 1997, as a base for manufacturing and distribution operations all over South America.

In 1995 the EuroClass luxury coach was voted International Coach of the Year, and in 1999 Iveco and Renault decided to combine their efforts in the public transport field by merging their respective bus operations. This merger included companies such as Heuliez and Karosa, and the result was Irisbus, one of the major manufacturers in the passenger transport sector, which was further strengthened by the acquisition of the Hungarian company Ikarusbus.

Constantly growing attention was paid in those years to the integration of products and services, both to respond comprehensively to customers' requirements and to combat the extremely cyclic nature of the automotive market. This strategy led to the creation of Transolver in 1997, which took Iveco into the world of financial services.

On the commercial front, in 1998 Iveco Ford's EuroCargo, which was sold in over ninety countries and led the market in Italy, the United Kingdom, Spain, Bulgaria and Slovenia, was voted the "Best Imported Truck" in Germany. In 2000 it was the light segment that won awards, when the Daily was voted "International Van of the Year", and the one-millionth vehicle left the assembly line. In 2006 it produced the Ducato and the Scudo. In 2007 it produced the Fiorino. Today Iveco has 49 factories, 15 research and development facilities, 840 dealers, 31,000 employees, and is in 19 countries. 40% of the engines Iveco manufactures go to Iveco vehicles, 60% are sold as OEM units for use in automotive, industrial, agricultural, marine, and power generation applications. It is a major European producer of fire-fighting vehicles.

In 2007, Iveco announced plans to reenter the United States truck market.[3]

Engine production

Iveco produces engines in three plants: SOFIM Foggia, Italy (8140-series), IVECO SpA Turin, Italy (8000 and NEF-series) and Bourbon-Lancy, France (Cursor-series). The Sofim was originally joint diesel engine enterprise of Fiat, Saviem and Alfa Romeo established in 1973[4] and was bought by Iveco in 1981.[5]

Electric vehicles

Iveco is making hybrid electric vehicles.[6]

This includes:[7]

Brands

Iveco also produces many types of vehicle specific to certain countries. These include the PowerStar and Acco brands listed above, which are continued from original models produced by International Trucks Australia Limited.

Iveco vehicles

Iveco Massif

Daily van (MY98) in Romania

Iveco Daily S2000 minibus

Iveco Daily S2000 Chassis-cab

Iveco Eurocargo (2003 Restyle)

Iveco Trakker

Iveco Stralis

Iveco Stralis racing truck

Iveco EuroStar

Iveco TurboCity-U 480 bus in Bucharest, Romania (operated by RATB)

Norwegian Iveco Light Multirole Vehicle

Iveco Magirus Super Dragon X8

Iveco-Autokran
Iveco Zeta.jpg

Iveco Daily

See also

References

  1. ↑ "22.01.2009 FIAT GROUP Q4 AND FULL YEAR FINANCIAL REPORT". italiaspeed.com/2009/cars/industry. http://www.italiaspeed.com/2009/cars/industry/01/q4/2201.html. Retrieved 2009-01-22. 
  2. ↑ "Annual Report 2007" (PDF). fiatgroup.com. http://www.fiatgroup.com/en-us/shai/banns/budgets/Documents/BILANCIO_2007_ING.pdf. Retrieved 2008-04-08. 
  3. ↑ "Fiat bringing Iveco trucks stateside early 2008". autoblog.com. http://www.autoblog.com/2007/07/25/fiat-bringing-iveco-trucks-stateside-early-2008/#comments. Retrieved 2007-11-24. 
  4. ↑ "Fiat - Lizenzbau vor 1970 (Pkw und Transporter)". zuckerfabrik24.de. http://www.zuckerfabrik24.de/fiat/fiat_lizenz.htm. Retrieved 2009-06-20.  (German)
  5. ↑ "L' IVECO E' SECONDA IN EUROPA IL MERCATO DEI CAMION TIRA". ricerca.repubblica.it. http://ricerca.repubblica.it/repubblica/archivio/repubblica/1988/02/27/iveco-seconda-in-europa-il.html. Retrieved 2009-06-20.  (Italian)
  6. ↑ "Hybrid use up in Europe". lexisnexis.com. http://www6.lexisnexis.com/publisher/EndUser?Action=UserDisplayFullDocument&orgId=101846&topicId=103840033&docId=l:723623413. Retrieved 2008-03-25. 
  7. ↑   (2007-05-21). "Irisbus Iveco at the UITP World Congress and Exhibition". Iveco.com. http://www.iveco.com/en-us/PressRoom/PressRelease/Pages/1073760043.aspx. Retrieved 2009-06-20. 
  8. ↑ "Fiat Fiscal Year 2001". fiatgroup.com. http://www.fiatgroup.com/en-us/shai/banns/form20f/Documents/2001_FORM%2020F.pdf. Retrieved 2009-06-20. 

External links

IVECO models

Current models: Iveco Acco | Iveco Campagnola | Iveco Daily | Iveco Eurocargo | Iveco Eurofire | Iveco LMV | Iveco Massif | Iveco PowerStar | Iveco Stralis | Iveco Trakker

Past models: Iveco EuroMover | Iveco EuroStar | Iveco EuroTech | Iveco EuroTrakker | Iveco EuroZeta | Iveco TurboStar | Iveco Zeta
Fiat Group automotive brands
Retail brands
Commercial brands

Iveco: · Irisbus · Astra · Iveco Magirus
Major interests

CNH Global (90%): Case IH · Kobelco · New Holland · Steyr · Case · New Holland Construction
Chrysler Group, LLC (20%): Chrysler, Dodge, Jeep, RAM, GEM
Defunct marques

Autobianchi · Innocenti · Zastava · Seddon Atkinson · Pegaso