[5][6] In Europe, Fiat S.p.A. and PSA Peugeot Citroën began a 50/50 joint venture in 1978 under the name of "Sevel" (an acronym of "Société Européenne de Véhicules Légers" or "Società Europea Veicoli Leggeri").

[3] Italian immigrant to Argentina and entrepreneur Franco Macri, who had been associated with Fiat in construction business, took over Sevel operations in 1982 through its Grupo SOCMA,[3] after acquiring the 85% share.

Peugeot's Berazategui (in Greater Buenos Aires) factory was decommissioned and production transferred to El Palomar, but increasing market demand in 1993 meant this plant was reopened.

[6] Sevel, the Socma Group's centerpiece at the time, initially benefitted from the boom touched off by Economy Minister Domingo Cavallo's Convertibility Plan in 1991, seeing its auto sales grow from 30,000 in 1990 to 200,000 in 1994.

[14] In 1998, Grupo SOCMA sold its block of shares to PSA Group which took over production of Peugeot and Citroën vehicles under the name of "Peugeot-Citroën de Argentina".

Fiat models that have been assembled in Uruguay are Uno, Fiorino, Punto, Palio (sedan and station wagon), Siena, Strada, Stilo, Idea, Linea, Ducato, and Iveco Daily.