Fiat Chrysler boss: Trump ideas positive if all implemented
FRANKFURT, Germany (AP) — Fiat Chrysler boss Sergio Marchionne says President Donald Trump's proposals would be "overall positive" for his company's bottom line — but it's hard to say for sure until it's clear which ones will be implemented.
Trump urged auto executives including Marchionne in a meeting Tuesday to make more cars in the U.S. His proposals include a 35 percent import tax that could disrupt current production arrangements but he has also talked about slashing corporate taxes and regulation.
The U.S. government accused Fiat Chrysler Jan. 12 of failing to disclose software in some of its pickups and SUVs with diesel engines that allows them to emit more pollution than allowed under the Clean Air Act.
For the full year, it saw net profit jump to 1.81 billion euros ($1.92 billion) from 93 million euros in 2015 as a more profitable model mix and lower costs helped overcome a sales decline in North American markets.