Alfa Romeo has been a part of the Fiat Group since 1986 , and since February 2007 a part of Fiat Group Automobiles S.p.A. . The company was owned by Italian state holding company Istituto per la Ricostruzione Industriale between 1932 and 1986 , when it became a part of the Fiat Group , and since February 2007 a part of Fiat Group Automobiles S.p.A.