Iveco was incorporated on 1 January 1975 through the merger of five brands: Fiat Veicoli Industriali (Turin), OM (Brescia), Lancia Veicoli Speciali (Italy), Unic (France), and Magirus-Deutz (Germany). The newly combined entity immediately began rationalising its product range, which at formation covered 200 basic models and 600 versions spanning from 2.7 tonnes to over 40 tonnes gross vehicle weight.
In 1978, Iveco launched the Daily light van, which became one of its longest-running and most successful product lines. In 1980, the company produced a turbo diesel engine for heavy industrial vehicles, and in 1984 the TurboStar heavy truck was introduced, eventually selling 50,000 units in seven years. In 1985, Iveco developed the first light diesel engine with direct injection.
From 1986, Iveco held a 52% stake in Iveco Ford Truck Ltd, a joint venture with Ford of Europe's truck division, with Ford plants taking over production of major Iveco vehicles alongside the Ford Cargo. In 1990, Iveco acquired 60% control of Spanish industrial company ENASA, owner of the Pegaso truck brand. English manufacturer Seddon Atkinson was purchased in 1991. That same year, the first TurboDaily assembly line opened at Nanjing Motor Corporation in China.
Through the 1990s, the EuroCargo, EuroTech, EuroTrakker, and EuroStar represented a complete product generation. The EuroCargo and EuroTech won the Truck of the Year award in 1992 and 1993 respectively, the first time the same manufacturer had won in consecutive years. In 1992, Iveco formed Ital (later Iveco Trucks Australia) through acquisition of Australia's primary industrial vehicle constructor.
In 1998, Iveco launched the Cursor 8 engine, followed by the Cursor 10 in 1999 — the first diesel engine with a variable-geometry turbine and the first common-rail diesel engine for heavy industrial vehicles. In 2003, Iveco fully acquired Irisbus, the bus manufacturer it had previously held in a joint venture with Renault. On 1 January 2011, Fiat Industrial was formed, incorporating CNH, Iveco, and FPT Industrial.
Iveco Group N.V. was formed following a demerger from CNH Industrial completed on 1 January 2022, with the holding company incorporated in Amsterdam. In July 2025, Iveco announced the sale of its commercial vehicle business to Indian company Tata Motors and its defence business (including the IDV and Astra brands) to Leonardo, with both transactions expected to complete in the first half of 2026.
Iveco has maintained a consistent presence in motorsport and high-profile sponsorship. The company sponsored the 1980 Moscow Olympics, the 1982 FIFA World Cup, and provided vehicles for Jacques Cousteau's Amazon expeditions in 1983. In 2006, a fleet of 1,200 Irisbus vehicles supported the Turin Winter Olympics. Iveco became a sponsor of the All Blacks rugby team in 2007, and from 2009 served as the truck and commercial vehicle supplier for MotoGP alongside its longstanding association with Scuderia Ferrari.
In truck racing, Iveco won the 2012 Dakar Rally through the Petronas De Rooy team, with Dutch driver Gerard De Rooy at the wheel of an Iveco Powerstar. De Rooy was followed by teammates Stacey and Biasion in Iveco Trakker Evolution 2 vehicles powered by FPT Industrial C13 engines producing over 900 hp. De Rooy won again at the 2016 Dakar Rally, and Janus van Kasteren took Iveco's third Dakar Rally victory in 2023.
Iveco's current commercial vehicle lineup includes the Daily (3.3–7.2 tonne segment), the EuroCargo (6–19 tonnes), and the heavy Iveco Way range comprising the on-road S-Way, the off-road T-Way, and the X-Way for light off-road applications. The company also produces military vehicles through its Iveco Defence Vehicles division, including the LMV, B1 Centauro, Guarani, and SuperAV platforms.
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