Fiat has held a leading role in the automotive industry since its conception, which occurred at the dawn of the Italian industrialization era. From the moment it first appeared on the market, Fiat has been extensively developed and is recognized worldwide. Its logo is a great status symbol because of the superior cars the Company produces and the prestige of its history and tradition. The charter of Societa Anonima Fabbrica Italiana Automobili Torino was signed on July 11, 1899. Giovanni Agnelli was on the Board of Directors. He was determined Fiat would be highly successful and had great strategic vision. He became Managing Director of Fiat in 1902. Fiat experienced a growth of production in the mid 1960s, as well as a growth in exports. The grandson of founder Giovanni Agnelli, Gianni Agnelli, and his namesake, became President of Fiat in 1966. He ensured the Company followed a trend toward increased automation in the production process. This helped Fiat continue on the path of technological innovation while coping with the global oil crisis. 2007 saw the Fiat 500 have stiffer suspension, wider fenders and a 150 hp turbo 4-cylinder engine that will run from zero to 60 in eight seconds. Fiat continues on the path of innovation and superior technology into the 21st century.
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