Another piece of Italian industry is gone. The European Commission has approved the sale of Iveco to India’s Tata Motors. Iveco's heavy and light vehicles, which Giorgio Garuzzo adeptly restructured in the early 1980s, were instrumental to the success of Vittorio Ghidella's Fiat, which surpassed Volkswagen in performance. When the Agnellis abandoned their automotive investment cycle in the 1990s, Iveco, led by brilliant managers such as Giancarlo Boschetti, helped to maintain the group's manufacturing footprint. For the past four decades, Iveco has been a reliable industrial and commercial enterprise. The point, however, is that Iveco has been small for at least a decade. "It's small", states a commentary in Il Sole 24 Ore, "due to its former parent company, Exor, implementing a portfolio strategy for at least twenty years focused on reducing its stake in the automotive sector. Consequently, the developments in recent months align with the Agnelli family's long-term strategic direction. Through this acquisition, the Indian investors are securing manufacturing facilities and technological assets, but more importantly, they are gaining a substantial presence in the Italian and European markets".