The name is an acronym for Industrial Vehicle Corporation, an alliance among European commercial vehicle manufacturers such as Fiat (including Officine Meccaniche (OM) and Lancia), Unic and Magirus. Today the company is a significant player in the medium-duty commercial vehicle and engine markets, and is near the top for sales of passenger transport and 3.5 ton light vehicles. Iveco became the All Blacks' global sponsor in January 2007.