As part of the agreement, wages will increase by a further 4.5% from January next year, while workers will also receive a one-off sum for a total of 600 euros ($632) to be paid in three tranches over this year.

The agreement, for which talks officially kicked off at the end of October, covers almost 70,000 workers at Stellantis, Ferrari, Iveco and CNH Industrial.

($1 = 0.9490 euros)

(Reporting by Giulio Piovaccari; Editing by Keith Weir)