Fiat approved to purchase Bertone
August 7, 2009 by Matt Brogan
After a four-way bidding war Italian manufacturer Fiat has been approved to purchase Bertone’s contract manufacturing business.
As part of the purchase agreement, Fiat will invest US$215.9 million into the struggling manufacturer over the next three years.
Bertone, a name often associated with some of automotive history’s classics such as the Lamborghini Miura, will not lose the family control of its design arm with this part of the operation to remain “as is”.
Fiat’s purchase will only cover the firm’s manufacturing operations and it will use its purchase of Bertone to gain access to the company’s Turin (Italy) production facility.
Fiat CEO Sergio Marchionne revealed the Italian automaker will produce niche vehicles at the factory, but failed to give any specific model names. The vehicles made at the Turin factory will be sold in Europe as well as North America.
Bertone was founded in 1912 and is currently Italy’s oldest contract manufacturer.
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Forget the Lamborghini Miura
The real classic is the convertible holden astra :-P
Give me as X1/9 5 speed. Beauuuuuuutiful. These guys just know how to design beautiful cars.
Well look at Fiat, just buying up companies here and there.
When will it end?
Mick: How true, but I think GM and Ford did this before. Then starting selling everything that wasn’t bolted down.
need extra braking power just lift the doors up
Toxic_Horse, your comment was legendary! Keep them coming!
LONG LIVE FREEDOM OF SPEECH!!
We must all bow down and make way for our new Italian masters. But seriously fiat is on a roll.
I’ve spent some time in Europe, and know, have owned, and rented FIAT and Alfa Romeo cars. The technology and quality is very good, the style is fantastic, and If you thought having more small cars in America will be a boring hell, then you’ve never driven a FIAT.
Forget what your college roomate told you in 1974, most of the problems arose from US safety and emissions regs, dealer issues in the US, and Russian steel which the company unfortunately obtained in a barter deal for a factory there. I myself had a 1978 FIAT 131 Mirafiori that was the most enjoyable economy car you could imagine… still on the road 30 years later, too.
And current FIAT CEO Sergio Marchionne is a genius, if you read what The Economist had to say about what’s he’s done at the company, you’d understand just how well run FIAT is… the only currently profitable European automaker.
I also rented a small, 4 door FIAT Panda in Greece… it got 40-50mpg on gas, and was a very sporty drive for an econobox. FIAT also makes what we would call a midsize, the Croma… which is like a Taurus, and they produce all matter of trucks right-up-to big rigs.
They invented the now widespread “single rail” diesel technology, and their smallest cars get 70mpg on diesel… who needs hybrids?
Any portrayal of FIAT as a producer of antiquidated, poor quality little cars is nonsense from the uninformed. IMO, they are going to surprise a whole lot of people.
Pot kettle black…….
I love how Aussie poke fun at early Italian cars rusting [Nothing wrong with the Russian steel, just they way it was {or was/nt] treated and painted was the issue] YET you only have to look at a similar vintage Kingswood/Falcon/Valiant and they have similar if not WORSE rust issue.
My 1998 Falcon had so much rust even the ashtray was rusting….
History lesson OVER!
My mates EL Foulcan’s seat rails are rusting.
I drive an 06 Punto 1.9 Turbo Diesel.
My wife just got her drivers license (a little late at 30 years old). She’ll probably get the Punto and I’ll buy a 500 Abarth.
I’d be great to see the Panda come here, brilliant car.