Luca Cordero Di Montezemolo, Chairman, center, talks during [Getty Images]

ITALY - JUNE 23: Luca Cordero Di Montezemolo, Chairman, center, talks during the press conference after the Fiat shareholder meeting along with Sergio Marchionne, CEO, right, and John Elkan, Vice Chairman. Fiat, Italy's biggest manufacturer, plans to slash automotive costs by 500 million euros ($604 million) this year to reach the company's profit targets. (Photo by Giuseppe Aresu/Bloomberg via Getty Images)

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