Fiat stands for Fabbrica Italiana Automobili Torino, which is roughly translated to Italian Automobile Factory, Turin. It was founded in 1899 in Turin, Italy. While most people know Fiat as a builder of small car like the 500
, Fiat is one of the largest car companies in the world. Fiat owns iconic brands such as Ferrari, Alfa Romeo, Maserati, and Chrysler.