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Fiat money is a government-issued currency that is not backed by a commodity such as gold. Fiat money gives central banks greater control over the economy because they can control how much money is printed. Most modern paper currencies, such as the U.S. dollar, are fiat currencies.
Chrysler suffered some tough financial events before it was purchased by Fiat. Brands under the Fiat Chrysler umbrella include Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Ram, Alfa Romeo, Abarth, Lancia, and Maserati.
Poor sales led Fiat to pull from the American market in the early 1990s. After the Italian automaker merged with bankrupt Chrysler Corp., the brand returned stateside in 2011. In its first full year, Fiat sold 43,772 vehicles in the U.S. In 2018, that number dropped to 15,521, a 40% decline year over year.
Stands for Fabbrica Italiana Automobili Torino, but the name FIAT means so much more. Founded in 1899, over the years the Turin-based company has become a symbol of Italy's technological and creative enterprise, which have changed the country and the history of global mobility forever.
FIAT® 500 FAQ IS THE FIAT® 500 DISCONTINUED? The FIAT® 500 has been discontinued and is no longer in production. However, the FIAT 500e electric vehicle will be returning to the U.S. in early 2024.
Fiat sales in the U.S. decreased by 83.5% in 2021, to 2,057 vehicles. This was due to the ongoing chip shortage and the discontinuation of several models, such as the Fiat 500L and the Fiat 500X. Fiat sales in the U.S. decreased by 90.7% in 2022, to 160 vehicles.