Fiat Chrysler Automobiles today reported record second quarter earnings of $2.18 billion, an increase of 15% over the second quarter of 2016. Adjusted net profit rose 52% to $1.26 billion on revenues of $32.7 billion.

The company credited Maserati as a major contributor to the growth in profitability. Profits at FCA’s premium brand rose by 14%.

Margins rose to a record of nearly 7% in Q2. North America (U.S., Canada, Mexico) delivered even higher margins, hitting more than 8% in the second quarter.

Worldwide shipments were down by 1%, to 1,225,000 units, due to the soft U.S. market. Shipments in Asia-Pacific, Europe and Latin America were all higher in the second quarter of 2017.

FCA shaved $1.05 billion from its net industrial debt, which now stands at $4.94 billion, and confirmed its market guidance for the remainder of the year. The company still plans to be “debt neutral” by the end of 2018.

(All figures reflect current exchange rates as of 7/27/2017.)