IVECO is a leading international manufacturer of commercial vehicles and is the second largest manufacturer of diesel engines in the world. It is part of the diversified Fiat Automotive group, based in Italy, that includes Fiat Auto and agricultural and construction equipment manufacturer Case-New Holland, as well as famous Italian automotive brands Ferrari, Maserati, Fiat, Lancia and Alfa Romeo.
IVECO was formed on January 1, 1975, from long-established truck manufacturers Fiat (established 1899), OM (1849) and Lancia (1906) in Italy, Unic (1906) in France and Magirus-Deutz (1864) in Germany.
In Australia, IVECO manufactures and distributes light, medium and heavy trucks for the road transport industry.
IVECO has been an active part of the local truck market since 1992, when it acquired International Trucks in Australia and changed the company's name to International IVECO Trucks Australia, then to IVECO Trucks Australia Limited in 2001.
IVECO's stewardship injected new dynamism into the local operations and, in the mid-1990s, saw the introduction of Turbo Daily range of vans and light trucks, the first IVECO-badged vehicles to be sold in Australia.
The Turbo Daily was followed by the EuroStar and EuroTech heavy truck ranges, which were built at the Dandenong plant and significantly re-engineered for local conditions.
IVECO products today include the truck-tough Daily range of light commercial vans and cab-chassis models, the efficient Tector-powered, medium-duty Eurocargo, the iconic medium-heavy Acco and two Cursor-powered heavy-duty ranges - the high-tech Stralis cab-over and the PowerStar, which is the most advanced bonneted heavy truck in Australia.
IVECO's Dandenong plant represents a major investment in the local trucking industry and is part of IVECO's Australian employee pool totalling more than 600 people. Overall, IVECO creates employment in Australia for thousands of people in related industries, from retailing operations to component suppliers.
Iveco, an acronym for Industrial Vehicle Corporation, originally an alliance of European commercial vehicle manufacturers such as Fiat (including OM and Lancia Veicoli Speciali), Unic and Magirus. Iveco is now an Italian truck, bus, and diesel engine manufacturer, based in Turin. The firm is a subsidiary of Fiat Industrial, having been demerged from the Fiat Group at the start of 2011, 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).
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.
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), Officine Meccaniche (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.