Fiat SpA Chief Executive Officer Sergio Marchionne received 41 percent more compensation last year as his total pay rose to 4.8 million euros ($6.5 million), according to the carmaker's annual report.

Marchionne's salary of 3.05 million euros was boosted by a bonus of 1.35 million euros and “other fees” of 387,400 euros, according to the document, which was distributed today through the Italian stock exchange. The 57-year-old executive, whose contract at Turin, Italy-based Fiat expires in 2012, earned a total of 3.4 million euros in 2008.

The CEO has also run Chrysler Group LLC since Fiat acquired a 20 percent stake as the Detroit carmaker emerged from bankruptcy in June. The U.S. Treasury in December approved $600,000 in stock payments for Marchionne's work at Chrysler. The shares can't be sold for three years and until obligations to the Troubled Assets Relief Program have been fulfilled.

Fiat forecasts it will come close to breaking even this year and have so-called trading profit of 1.1 billion euros to 1.2 billion euros after the Italian government indicated it probably won't renew consumer purchasing incentives that propped up car sales in the midst of the recession. Marchionne has predicted that Chrysler will post a profit in 2011.

Marchionne's pay compares with the 6.1 million euros awarded to Volkswagen AG CEO Martin Winterkorn in salary and bonus in 2008, according to Bloomberg data. Dieter Zetsche at Daimler AG got a combined 2 million euros that year.

Fiat Chairman Luca Cordero di Montezemolo was paid 5.2 million euros in total compensation last year, compared with 3.4 million euros in 2008. Vice Chairman John Elkann, who received 631,000 euros in 2009, made 612,800 euros a year earlier, according to the 2008 annual report on the company's Web site.

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