Latin America, the only other region to post a profit, saw it narrow by two-thirds to €46 million.
Overall, Fiat said global earnings before tax and interest were a record €2.3 billion despite a 6% fall in revenues to €26 billion.
Global shipments were down 3%, due largely to plant retooling in North American to produce the new Jeep Grand Wagoneer in the luxury SUV segment and the discontinuation of the Dodge Grand Caravan.
Fiat Chrysler announced earlier on Wednesday that its merger with PSA Peugeot is on track to be finalised by the end of the first quarter of 2021, as planned.
To meet regulatory concerns, the French group is selling a small stake in a components maker to get below 40% ownership.
The new car maker, to be called Stellantis, will be the fourth biggest in the world.