The decade begins with a general spirit of optimism and the economic miracle continues in Italy. Fiat experiences dramatic increase in production volumes: the number of cars constructed per year goes from 425,000 to 1,741,000; trucks from 19,000 to 64,800; tractors from 22,637 to 50,558; earthmovers from 3,000 to 6,255. Fiat doubles the number of employees to almost 171,000.
1964: launch of the two-door, five-seat Fiat 850 sedan.
1966: Giovanni Agnelli, grandson of the founder, becomes Chairman. A major agreement is signed for construction of the Vaz plant in Togliattigrad, Russia, which will produce two thousand Zigulì passenger cars a day.
1967: Vittorio Valletta dies. Production begins at the Rivalta plant. Fiat takes a majority stake in Magneti Marelli. The 124 is named “Car of the Year” and the Fiat Dino Coupé is launched complete with engine based on Ferrari technology.
1969: the company acquires Lancia and purchases a 50% interest in Sefac-Ferrari. The same year, Fiat Ferroviaria designs and produces the Pendolino, the world’s first tilting train.
1970: the 128, Fiat’s first front-wheel drive car, is named “Car of the Year”.