The second-biggest carmaker in Europe has forecast that US tariffs could cost it €1.5 billion this year as the EU has failed to avert auto levies imposed by the Trump administration.
The producers of luxury Maserati cars as well as mid-range and affordable favourites such as Lancia, Peugeot and Fiat, said on Tuesday that net profits plummeted from €5.6bn in the same period last year. This was as it burned €3.3 billion in cash for the cancellation of a hydrogen fuel cell project. Changes in the fine regime for US carbon emission regulations and write-downs on platform investments also hit profits.
