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Iveco (short for Industrial Vehicle Corporation) is an Italian commercial vehicle manufacturer, specializing in light, medium and heavy-duty trucks, buses, and specialized industrial vehicles. It has a global sales network covering over 160 countries, and is one of the mainstream brands in the global commercial vehicle sector.
Key moments
1975Founded by merging four Fiat Group commercial vehicle divisions: OM, Lancia Veicoli Industriali, Magirus and Unic
1978Launched the first generation Daily light commercial vehicle, which became a core product line
1996Established Nanjing Iveco, a joint venture with China's Nanjing Auto Group to enter the Chinese market
2013Became a subsidiary of CNH Industrial after the merger of CNH Global and Fiat Industrial
2022Spun off as Iveco Group and listed on the Milan Stock Exchange, becoming an independent public company
Iveco competes in the highly fragmented global commercial vehicle market, with its main competitors including:
Daimler Truck: The global market leader in heavy-duty trucks, with well-known brands such as Mercedes-Benz Trucks and Freightliner, with a dominant market share in Europe and North America
Volvo Group: Includes Volvo Trucks and Renault Trucks, with strong technical advantages in heavy-duty commercial vehicles and a wide global layout
MAN Truck & Bus: A subsidiary of the Volkswagen Group, focusing on heavy commercial vehicles and bus products
Scania: Another Volkswagen Group subsidiary, specialized in high-end heavy trucks and buses, with leading fuel efficiency technology
Regional players: Such as China's Sinotruk and Foton Motor in the Asian market, and local European brands like DAF Trucks
MAN Truck & Bus: European mainstream commercial vehicle brand
Scania: High-end heavy truck specialist
Local Asian/European regional competitors
Iveco is a long-established commercial vehicle brand with a solid reputation in light, medium, and heavy-duty trucks, buses, and specialty industrial vehicles. Rooted in Italian industrial engineering heritage, it has built its brand identity around reliability, technical innovation in powertrain and sustainable mobility solutions, catering to logistics, public transport, and industrial sectors globally. Its global distribution network across more than 160 countries gives it broad reach to both mature and emerging automotive markets, positioning it as a mainstream contender in the commercial vehicle space.
The brand operates in a highly fragmented and competitive global commercial vehicle market, where it differentiates itself through a focus on fuel efficiency, alternative fuel technologies, and tailored solutions for regional customer needs. It maintains a strong foothold in its core European market, where it benefits from local manufacturing expertise and deep customer relationships, while gradually growing its presence in fast-growing emerging markets in Asia-Pacific, Latin America, and Africa.
In recent years, Iveco has prioritized investment in electric and hydrogen-powered commercial vehicles, aligning its brand strategy with global decarbonization trends, which has helped it maintain relevance amid shifting industry demands. This strategic pivot supports its long-term brand equity by addressing growing regulatory and customer demand for low-emission transport solutions.
Brand leadership
Score: 70/100
Iveco holds a solid mid-tier leadership position in the global commercial vehicle industry, with strong brand recognition in the bus and medium-duty truck segments. It competes effectively against larger European rivals like Daimler Truck and Volvo Group, leveraging its focus on specialty vehicles to carve out a distinct market position. It is particularly well-regarded for its innovation in alternative powertrains for commercial applications.
Customer brand interaction
Score: 72/100
Iveco maintains regular engagement with fleet operators, logistics companies, and public transport authorities through its global dealer network, providing after-sales support and custom vehicle configuration services. It also interacts with stakeholders through industry events and sustainability initiatives, building long-term relationships with core customer groups that rely on its vehicles for daily operations.
Brand growth momentum
Score: 68/100
Driven by increasing demand for low-emission commercial vehicles, Iveco has seen steady momentum in its electric vehicle lineups in recent years, with growing sales in European markets where stricter emissions regulations are in place. While its growth in mature markets is moderate, it is expanding production capacity and distribution in emerging markets to capture rising demand for commercial vehicles, positioning it for steady future growth.
Brand financial stability
Score: 75/100
As an established industrial brand with a consistent product portfolio and loyal customer base, Iveco enjoys solid financial stability supported by its diversified geographic presence and broad product range. It has weathered industry downturns in the past and maintains strong partnerships with suppliers and financial institutions, supporting its ongoing investment in new technology and manufacturing.
Brand heritage and age
Score: 80/100
Iveco was founded in 1975 through the merger of several Italian industrial vehicle manufacturers, giving it over 50 years of continuous operation in the commercial vehicle sector. Its long heritage has helped it build deep expertise in industrial vehicle engineering, and a reputation for durable, long-lasting products that contribute positively to its overall brand equity.
Industry sector profile
Score: 78/100
Iveco operates exclusively in the commercial vehicle sector, with a clear brand identity focused on industrial and transport applications, which gives it a strong profile among B2B customers in logistics, public transport, and specialized industries. It is widely recognized as a leader in sustainable commercial mobility among industry peers, with high visibility for its investments in zero-emission vehicle technology.
Global market reach
Score: 82/100
Iveco maintains a sales and service network covering over 160 countries worldwide, with manufacturing facilities across Europe, Latin America, Asia, and Africa, giving it strong global penetration. While it has a concentrated market share in its home European market, it has established a significant presence in emerging markets, allowing it to mitigate regional economic risks and leverage global growth opportunities.
AI-generated analysis can support structured reasoning around Iveco's brand value, drawing on publicly available market data and brand positioning information. All supporting value estimates derived from this analysis are illustrative only, and do not represent formally audited brand value figures. To access official, audited brand value assessments for Iveco, contact the World Brand Lab directly.
Iveco S.p.A., an acronym for Industria Veicoli Commerciali or Industrial Vehicles Corporation,[2] is an Italian multinational transport vehicle manufacturing company with headquarters in Turin, Italy.It designs and builds light, medium, and heavy commercial vehicles.The Iveco name first appeared in 1975 after a merger of Italian, French, and German brands.[3]
Its production plants are in Europe, China, Australia and Latin America and it has about 5,000 sales and service outlets in over 160 countries. The worldwide output of the company amounts to around 150,000 commercial vehicles with a turnover of about €10 billion.[4]
The company was spun off from CNH Industrial on 1 January 2022.[5][6] It is a subsidiary of Iveco Group N.V., a holding company incorporated in Amsterdam, Netherlands, and is listed on Borsa Italiana.
On 30 July 2025, Iveco announced the sale of its commercial vehicle business to Indian company Tata Motors and its defence business to Leonardo.
History
Iveco (stylized in all caps as IVECO) was incorporated on 1 January 1975, with the merger of five different brands: Fiat Veicoli Industriali (with headquarters in Turin), OM (Brescia, Italy), Lancia Veicoli Speciali (Italy), Unic (France), and Magirus-Deutz (Germany).[7][8]
Following the merger, the newly founded Iveco began rationalizing its product range, manufacturing plants, and sales network, while keeping the original brands. From 1975 to 1979, the Iveco range included 200 basic models and 600 versions spanning from 2.7 tons of GVW for light vehicles to over 40 tons for heavy vehicles, as well as buses and engines.[9][10]
Main shareholders
The main shareholders of Iveco Group on 3 April 2025 are:[37]
Iveco has 27 production plants and 6 research centres located in 16 countries. Outside of Europe, the company operates in China, Russia, Australia (factory ceased production in June 2022), South Africa[41] and Latin America.All the plants have obtained ISO 9001-vision 2000 (quality management by process) and ISO 14000 (environmental management) certification.
Emissions and alternative fuels
Euro VI engines with SCR technology
Iveco engines from the Cursor and Tector ranges observe the Euro VI standards[42] by adopting High Efficiency SCR (HI-eSCR) technology.[43] This technology optimises the processes of exhaust combustion and after-treatment, reducing consumption and enabling achievement of greater efficiency in the conversion of NOx emissions.[44]
Electric drive
Iveco developed and built the first Daily with electric propulsion in 1986;[45] Later, the range was broadened to include trucks and city buses.
Iveco vehicles
The brand's range of products include the Daily, a vehicle that covers the 3.3 – 7.2 ton vehicle weight segment, the Eurocargo from 6 – 19 tons and, in the heavy segment above 16 tons, the Iveco Way range with the on-road Iveco S-Way, the off-road Iveco T-Way and the Iveco X-Way for light off-road missions.
In 2023, Iveco announced their new Driveway Bodybuilder Programme, allowing customers to have a choice of stock tippers and tipper grabs available on X-Way chassis.[58]
Current models
Commercial vehicles
Acco
Daily
eDaily
eJolly
eMoovy
Sponsorships
Iveco sponsored the 1980 Olympic Games in Moscow, the Davis Cup in 1982, the 1982 FIFA World Cup, the Jacques Cousteau expeditions in the Amazon basin in 1983 and the Raid Pigafetta, during which the Iveco-Fiat 75 PC 4x4 was first to make a full circle of the globe.[59] Two new divisions were also formed: bus diesel engines and firefighting vehicles.[60] It also sponsored the first of two fights between Sugar Ray Leonard and Tommy Hearns[61] and between Aaron Pryor and Alexis Argüello.[62][63]
In 2006, Iveco sponsored the 2006 Winter Olympic Games in Turin with a fleet of 1,200 Irisbus buses.
3.Bonfiglioli Consulting: Il Lean Thinking dalla produzione alla progettazione. Pensare snello in ufficio tecnico per innovare la progettazione e diventare più competitivi. 5 casi italiani di successo, 2010: Milano – p. 103
In 1977, the light- to medium-weight Iveco Zeta range was introduced, replacing the 20-year-old OM Lupetto.
Integrating the Fiat-OM range with the Unic and Magirus lineups was completed by 1980.[11] IVECO moved in to work on increasing productivity and engine development.[11] In 1978, IVECO launched the first product in the range of IVECO-branded light vehicles, the Daily.[12]
In 1980, Iveco built a turbo diesel engine for heavy industrial vehicles.[13] In 1984, Iveco launched the TurboStar,[14] a heavy on-road vehicle that became a best-seller in Italy and also successful in the European market, selling a total of 50,000 units in seven years.[15] In 1985, Iveco made the first light diesel engine with direct injection.[16]
From 1986, Iveco S.p.A. held a 52% stake in Iveco Ford Truck Ltd, a joint venture (and effectively a merger) with Ford of Europe's truck division.Ford plants took over production and sales of the major vehicles in the Iveco range and continued production of the Ford Cargo.[17] In the mid-1980s, Astra Veicoli Industriali, which produces dumpers and construction site/quarry vehicles in Piacenza, became part of Iveco Group.[18] In 1989, the first Diesel engine with EGR to reduce polluting emissions compatible with commercial vehicles was produced, and the new Daily launched that same year was fitted with it.[17]
In 1990, the group purchased 60% control of Spanish industrial company ENASA, which owned the industrial vehicle builder Pegaso.[17] In the 1990s, the EuroCargo, EuroTech, EuroTrakker, and EuroStar vehicles represented a total facelift for the range.[17] The EuroCargo and the EuroTech were named "Truck of the Year" in 1992 and 1993, respectively, and for the first time, this recognition was awarded to the same manufacturer for two years in a row.[19] English company Seddon Atkinson was purchased in 1991 and brought its long heritage of special vehicles for the construction and refuse-collection industries.[20] That same year, the first TurboDaily assembly line was inaugurated at the Nanjing Motor Corporation in China.[21] In 1991, Iveco announced it was withdrawing from the North American market at the end of the year; they had been selling the midrange Iveco Z/Euro there since 1978.[22] In 1992, Iveco took over the primary constructor of industrial vehicles in Australia to form Ital, originally called International Trucks Australia.[23] In 1996 firefighting activities in Germany were structured under the company Iveco Magirus Brandschutztechnik GmbH.[24][25] The following year, these activities were boosted by the arrival of an Austrian company, Löhr, which then became Löhr Magirus.[20] In 1998, the Cursor 8 was launched, followed the next year by the Cursor 10, the first diesel engine with a variable-geometry turbine and the first common-rail diesel engine for heavy industrial vehicles.[24] The 125th anniversary of the presentation of the first Magirus ladder[26] was celebrated together with the delivery of the 5000th Magirus aerial ladder produced since the Second World War.[24] Magirus was sold to investment group Matares SE in 2024.[27]
In 2000 it was renamed Iveco Trucks Australia Limited.[20] In 2003, Iveco entirely bought out Irisbus, originally part of a joint venture with Renault.[28] In 2004, the Iveco Motors brand was introduced, which became an umbrella for the production of engines; the following year, it was incorporated into the newly founded Fiat Powertrain Technologies.At the end of 2004, an agreement was reached between Iveco and the Chinese company SAIC Motor to form SAIC Iveco Hongyan.[29]
On 1 January 2011, Fiat Industrial was formed, incorporating CNH, Iveco, and FPT Industrial.[30] In September of the same year, the Fiat Industrial Village was inaugurated in Turin, a multipurpose centre belonging to Fiat Industrial and created for the sales, assistance, and product presentation for the Iveco, New Holland, and FPT Industrial brands.[31]
On 11 November 2021, Iveco published the prospectus in order to split from CNH Industrial[32] which will be operated as a publicly separated company named Iveco Group N.V.[33] After the completion of the demerger, on 1 January 2022 Iveco became a part of Iveco Group N.V., the parent company of the trucks and speciality vehicles, powertrain and related financial services businesses previously held by CNH Industrial.As of 2023, the company forms part of the Dow Jones Sustainability Indices.[34]
On 30 July 2025, Iveco announced the sale of its defence businesses, consisting of the IDV and Astra brands, to Leonardo.[35] The remaining commercial vehicle business will be sold to Tata Motors.[36] Both transactions are expected to complete in the first half of 2026.
Iveco introduced the New Daily with electric propulsion and zero exhaust emissions, in which a battery system powers an electric three-phase asynchronous motor – through the aid of an inverter – in charge of moving the vehicle directly while recovering energy during braking.
The maximum velocity is electronically limited to 70km/h, while the vehicle's range is from 90 to 130km on a fully charged battery, depending on the number of batteries and the mission.
The parallel hybrid solution incorporates both a diesel engine and an electric motor that can be used individually or simultaneously, which makes for greater operating flexibility and allows the vehicle to work under both urban and non-urban conditions.[48] In 2010 Iveco introduced this technology on the Eurocargo Ibrido, a commercial vehicle for the European market with electri-diesel parallel propulsion for distributing and collecting goods in city centres.The payload capacity decreases by 200kg in comparison to diesel-engine models, but it is possible to save up to 30% on the urban cycle.[49][50] The Eurocargo hybrid range is made up of two versions:
The 7.5-ton version uses a Tector Diesel FPT Industrial engine with 16 valves and 4 Euro V cylinders, with a maximum power of 160hp (118 kW); this is paired with a drive system made of an electric motor-generator with 60hp (44kW), a 6-speed automated gearbox and a lithium-ion battery pack (Li-Ion) of rated capacity 1.8kWh.[50]
The 12-ton version uses the FPT Industrial Tector engine with 16 valves and 4 EEV cylinders with a maximum power of 180hp (132kW), paired with an electric motor-generator with 60hp (44kW), a 6-speed automated gearbox and a lithium-ion battery pack (Li-Ion) of rated capacity 1.8kWh.[50]
Diesel-electric hybrid
Iveco has been active in this sector since 1990 with 6, 7, 4 and 12 metre buses for urban and suburban transportation. The series hybrid technology features a diesel engine – smaller than that of a traditional vehicle – that acts as a battery charger.[51]
CNG – compressed natural gas
Iveco's range of light, medium and heavy vehicles and buses can run on methane. Methane makes it possible to save on consumption by 38% per kg transported as compared to that consumed by diesel engines for the same payload and distance travelled.In addition, compared to EuroVI diesel engines, methane engines reduce NOx emissions by approximately 60% and particulate emissions by approximately 70%.[52]
Liquefied natural gas
In April 2012 Iveco presented its first vehicle with this technology, the Stralis LNG. As opposed to vehicles with compressed natural gas (CNG) technology, liquefied natural gas (LNG) technology takes the vehicle farther on a full tank (up to 750km) and reduces the vehicle's tare thus increasing the load.The main difference between the two technologies lies in the type of natural gas storage employed, which in this case is kept in a liquid state at −161°C in cryogenic tanks; it is then heated in a heat exchanger so that once it reaches the engine it is a gas.[53] Also, the noise emitted decreases by 3 to 6 decibels over an analogous diesel engine vehicle.[54]
Iveco Trakker Bifuel – diesel-ethanol prototype
Iveco created the first prototype of a bifuel, diesel and ethanol-run vehicle.The technology was developed by Iveco together with FPT Industrial and Bosch.[55] The prototype uses a Trakker truck with Common Rail Cursor9 engine with 360HP[55] that may be powered by a 40–60% ethanol-diesel blend.[56] The prototype was tested by Raízen, a joint venture between the cane sugar producer Cosan and Shell.[56] In 2011, this prototype earned Iveco the "Prêmio Top Etanol" – for the alternative fuel technology.[55]
Heating and air-conditioning systems
A prototype of a heat pump system for electric and hybrid vehicles was installed on the Iveco Daily vehicle. The system cools or heats the passenger compartment by transferring low-temperature heat generated by the drive systems. At the same time, the control strategies minimise the energy demand in order to achieve a low impact on consumption.[57]
Iveco won the 2012 Dakar Rally with the Petronas De Rooy team and Dutch driver Gerard De Rooy, behind the wheel of an Iveco Powerstar.De Rooy was followed by drivers Stacey and Biasion behind the wheel of two Iveco Trakker Evolution 2 vehicles, equipped with an FPT Industrial C13 engine with over 900 hp.[68] De Rooy won the 2016 Dakar Rally for Iveco, whereas Janus van Kasteren won the 2023 Dakar Rally.
34.(Linked from Dow Jones Sustainability Indices components https://www.spglobal.com/esg/csa/csa-resources/dow-jones-sustainability-indices-components-bh19 – DJSI Components – DJSI World section) Dow Jones Sustainability World Index (Effective as of December 18th, 2023) S&P Global, retrieved 2024-06-19^
