Iveco has formally separated from parent company CNH Industrial in what the company describes as “an exciting new chapter”.
The move took place on January 3 and saw the separation of CNH Industrial’s ‘on-highway’ assets, providing the Iveco Group with complete control of the way it manages itself.
Iveco Group brands will be spearheaded by the core Iveco and FPT (Fiat Powertrain) businesses, while sub brands Iveco Capital, Heuliez, Iveco Bus, Iveco Defence Vehicles, Astra and Magirus will also form an important part of the on-highway offering.
Iveco says a “key benefit” of the spin-off will be its renewed focus on the needs of on-highway customers by taking a more targeted approach. Among these areas of interest is to further develop the group’s alternative fuels and propulsion capabilities.
The brand is already embarking on low emission natural gas technologies including CNG and LNG, as well as electrification with the likes of the Daily Electric van. The company’s new direction will also allow it to form closer ties with joint venture partners such as Nikola.
The two companies have been working together since 2019, and in September last year the partners unveiled details of their Ulm, Germany manufacturing facility which last month completed the first of its new Nikola TRE battery electric (BEV) trucks.
Iveco Australia and New Zealand managing director Michael May says he saw only positives from the spin-off for owners in the local markets.
“This spin-off will unify Iveco and provide the added freedom to further develop the brand’s potential as an exclusive on-highway business,” May says.
“The change will also allow a more targeted management focus, which will assist in accelerating innovation goals and the rate at which new products are brought to market, while also responding more nimbly to customer requirements.”
May says that along with these goals, he was confident that Iveco owners would now also enjoy enhanced levels of customer service and support.
“We’ve worked hard last year to elevate the Iveco customer experience – existing and prospective operators should see a further streamlining of these efforts in the 12 months ahead.
“In addition to providing a high-quality product, we want Iveco ownership to be as rewarding and cost effective as possible, by offering more value-added services, improved parts availability and other broader support offerings,” May says.
