#60 – IVECO Group: Beyond the Obvious

“We go beyond the obvious.”

— by Iveco Group, the commercial vehicles company headquartered in Turin, Italy, born as an independent company in 2022 following the spin-off from CNH Industrial, while carrying forward a manufacturing heritage dating back to 1975, when five European industrial vehicle manufacturers merged to create IVECO.

Unlike many corporate purpose statements, this one doesn’t describe what the company does but rather how it chooses to behave

Going beyond the obvious is a compelling invitation to challenge assumptions before designing solutions.

It recognises that the future of transport will not result from simply linear improvement of trucks, buses, or powertrains. It will have to question the very models that have defined the industry for so many decades.

That is the kind of mindset that shaped Iveco Group’s recent transformation.

After becoming an independent company in 2022, the Group rapidly exceeded several of the financial and operational targets originally set for 2026.

By the end of 2023, it had already achieved or outperformed key profitability and cash-flow objectives, prompting management to unveil a new strategic plan extending to 2028, built around product acceleration, partnerships, software, alternative propulsion technologies, and sustainability.  

Today, Iveco Group employs more than 36,000 people, generates approximately €15-16 billion in annual revenues, and operates through brands including IVECO, FPT Industrial, Iveco Bus, Heuliez, IDV, ASTRA, Magirus and Iveco Capital, serving customers in more than 160 countries.  

Interestingly, CEO Gerrit Marx explicitly linked the company’s strategic achievements to this purpose, describing “We go beyond the obvious” as “the soul of our Group” and the reason why the organisation consciously pushes limits rather than simply following industry conventions.  

The obvious answer is often the safest one. But very few companies become industry leaders by doing what everyone already expects.

The difficult part is building an organisation where challenging assumptions becomes part of everyday decision-making rather than an occasional act of innovation.

That is where purpose becomes a management innovation and stops being a simple statement.