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Iveco, an abbreviation of Industrial Vehicle Corporation, which was originally a Union of European trade as carmakers including Fiat OM, Lancia Veicoli Speciali, Unic and Magirus. Iveco is an Italian manufacturer of vans lekotovatni and heavy trucks, buses and diesel engines, located in Turin - Italy. The company is controlled more by Fiat Group and was founded on 1 January 1975 by the manager of Fiat, Bruno Beccaria.
In 1990, Iveco was acquired major stakes of ENASA, a leading truck manufacturer and creator of the brand Pegaso, commercial vehicles in Spain. This is an important step in the history of Iveco, as it is a local brand in all major European markets. With this acquisition, Iveco extended its manufacturing locations in Spain. The three vehicles that symbolized Iveco's entrepreneurial success in Europe since 1978 Daily Turbo of 1981 and Turbostar since 1984.
In 1986, the European Group of Ford, becomes part of the brand. In 1992, Iveco acquired the Italian firm, International Trucks Australia Limited. Iveco Mercosul was developed in Brazil in 1997 as a base for manufacturing and distribution in South America. In 1999, Iveco and Renault decided to bring together their efforts in the field of public transport. This merger integrated companies such as Heuliez and Karosa, where the result was Irisbus, one of the largest manufacturers in the passenger transport sector.
The production is further enhanced by the acquisition of the Hungarian company Ikarusbus. In 2007, Iveco announced that it will reintroduce its trucks in the U.S. market. In the same year, Iveco has annual sales amounting to twelve million dollars. The company is now a subsidiary of Fiat Industrial, since they broke with Fiat Group in 2011. Iveco produces around 200,000 commercial vehicles and 460,000 diesel engines annually.
Today Iveco has 49 factories, 15 R&D centre’s, 840 dealers, 30,000 employees and presence in 19 countries. 40% of the engines Iveco produces used to Iveco vehicles, 60% are sold as OEM units for use in industrial, automotive, marine, agricultural, and power generation applications. It is a major European manufacturer of firefighting vehicles. In 2007, Iveco declared plans to reenter the United States truck market.