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CHRYSLER REPORTS THIRD-QUARTER RESULTS

 CHRYSLER REPORTS THIRD-QUARTER RESULTS
 HIGHLAND PARK, Mich., Oct. 20 /PRNewswire/ -- Chrysler Corporation


(NYSE: C) today announced its net earnings for the third quarter of 1992 were $202 million, or $0.62 per common share.
 The results marked Chryr?'s second consecutive profitable quarter. Second quarter 1992 net earnings were $178 million, or $0.54 per common share.
 The third quarter results for 1992 were sharply higher than the third quarter 1991 net loss of $(82) million, or $(0.36) per common share. The third quarter results for 1992 include a charge against pretax earnings of $101 million for the restructuring of Chrysler's car rental operations.
 Total sales and revenues for the quarter were $9.2 billion, an increase of 22 percent over the comparable 1991 period and a record for any third quarter.
 The first and second quarters of 1990 was the last time Chrysler had consecutive profitable quarters.
 Lee A. Iacocca, making his final analysis of quarterly results as Chairman before retiring from Chrysler at the end of the year, said:
 "Reporting profitable quarters back-to-back while in the midst of the slowest economic recovery in decades makes today's announcement especially satisfying.
 "It shows what a dedicated management team can do when they set out to control costs, improve margins and lower breakeven points. I am immensely proud of all our Chrysler employees, both salaried and hourly, who have contributed to this outstanding performance.
 "Overall," Iacocca said, "our 1992 model year retail sales, excluding fleet, were up 15 percent. We had a terrific truck sales year. We set a model year record for minivan sales in the U.S. We beat the old record of 392,938 units sold in the U.S. in 1988 by selling 443,790 this year. We outsold all competitive minivan models combined. Jeep and Dakota truck sales were also very strong."
 He said other factors contributing to the strong third quarter results were the company's ability to lower incentive levels and reduce less profitable fleet sales.
 "The controlled launch of the Dodge Intrepid, Eagle Vision and Chrysler Concorde mid-size sedans has not slowed the momentum for these exciting new vehicles," said Iacocca. "Dealers, customers and the media are unanimous in their enthusiasm for the cars and orders are very strong."
 Chrysler's market share was up for the quarter and the calendar year. Combined U.S. and Canadian car and truck share for third quarter 1992 was 12.5 percent, compared to 11.3 percent for third quarter 1991. For the nine month period, Chrysler's share was 13.0 percent this year, compared to 12.2 percent for the same period in 1991.
 For the first nine months of 1992, the company reported net earnings of $367 million, or $1.08 per common share, compared to a net loss of $(892) million, or $(3.94) per common share for the same period in 1991. Sales and revenues for the first nine months of 1992 were $26.7 billion compared to $21.2 billion for the same nine months in 1991.
 Chrysler's retail unit sales in the third quarter were 190,783 cars and 264,455 trucks and minivans in the United States and Canada. Chrysler took an 8.5 percent share of the U.S. and Canadian car market and a 19.2 percent share of the U.S. and Canadian truck market in the third quarter.
 Chrysler's worldwide factory unit sales in the first nine months of 1992 were 1,595,634, compared with 1,352,002 in 1991.
 Chrysler Financial Corporation (CFC) reported third quarter net earnings of $45 million, compared to $81 million earned in the third quarter of 1991. Nine month net earnings were $205 million, compared with $238 million in the first nine months of 1991.
 The decline in earnings for the third quarter is a result of CFC's lower levels of earning assets and the increased cost of the new debt agreement.
 Here are Chrysler's third quarter and nine month results in tabular form.
 Nine Nine
 3rd Quarter 3rd Quarter Months Months
 1992 1991 1992 1991
 Total Sales
 and Revenues $9.2 $7.6 $26.7 $21.2
 (Billions)
 Earnings (Loss)
 Before Cumulative
 Effect of Change
 In Accounting
 Principle $202 $(82) $149 $(635)
 (Millions)
 Net Earnings (Loss) $202 $(82) $367 $(892)
 (Millions)
 Earnings (Loss)
 per Common Share $0.62 $(0.36) $1.08 $(3.94)
 Dividends Declared
 per Common Share $0.15 $0.15 $0.45 $0.45
 Retail Unit Sales
 United States
 and Canada 455,238 410,015 1,417,622 1,293,457
 Car, Truck Share
 U.S. and Canada 12.5 pct 11.3 pct 13.0 pct 12.2 pct
 Cash,
 Cash Equivalents,
 Marketable
 Securities
 At end of Period --- --- $4,117 $3,125
 (Millions)
 Common Shares
 Outstanding
 At end of Period --- --- 292.8 251.7
 (Millions)
 -0- 10/20/92
 /CONTACT: James Kenyon, 313-956-4664, or Tom Houston, 313-252-8790, both of Chrysler/
 (C) CO: Chrysler Corporation ST: Michigan IN: AUT SU: ERN


ML -- DE009 -- 2052 10/20/92 09:28 EDT
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Date:Oct 20, 1992
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