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LEE IACOCCA BIDS FAREWELL TO CHRYSLER'S DEALERS

 LEE IACOCCA BIDS FAREWELL TO CHRYSLER'S DEALERS
 LAS VEGAS, Aug. 28 /PRNewswire/ -- Lee Iacocca, attending his last


dealer announcement show as chairman of Chrysler Corporation (NYSE: C), told the company's 4,900 dealers last night, "I'm leaving with my eyes looking straight out the windshield at the road ahead. And I hope it's not what I've left behind that people remember me for some day, but for what I had a hand in starting."
 Chrysler's future is bright, Iacocca said, as evidenced by the corporation's new lineup of mid-size sedans -- the Eagle Vision, Dodge Intrepid and Chrysler Concorde, "the best management team in the industry," and a technology center that is "the most advanced in the world."
 "And over the next five years, we plan to spend $17.3 billion on new products. That's roughly twice as much as Chrysler has made in net profit over its entire 67-year history!" Iacocca said.
 Iacocca spoke at Chrysler's 1993 Worldwide Announcement Show. He retires from Chrysler at the end of this year.
 Noting that this meeting is his forty-third dealer announcement show, Iacocca said, "This is the part of the business I've loved the most. And this is the part I'll miss the most."
 He pointed out that it was 46 years ago that he was hired at Ford Motor Company.
 "And it turned out that the best thing that happened to me was getting fired. Because if it weren't for that, I wouldn't have had the privilege and the pure excitement of spending the past 14 years with Chrysler and with you," he said.
 Iacocca predicted that 1992 is the start of a five-year cycle that will be very good for the auto industry.
 "We're ready for the good times because we just went through the second Chrysler turnaround. The first one was pure survival," he said, referring to the period more than a decade ago when Chrysler needed government loan guarantees to survive.
 "But this turnaround meant reinventing the company to be a world class competitor -- not just for the next five years, or for the 1990s, but for the year 2000 and beyond," he said.
 "Chrysler today is a company with the guts of a Viper, the sure- footedness of a Grand Cherokee, and the basic common sense of a minivan."
 Iacocca urged the dealers to "give the customers the service they deserve."
 "I am absolutely convinced," he said, "that service is the thing that will separate the winners from the losers in this business from now on."
 "My greatest satisfaction," he said, "won't be the minivans or the two turnarounds or even these great new cars we've seen tonight. My greatest satisfaction will be in seeing where this company goes from here."
 -0- 8/28/92
 /CONTACT: James E. Kenyon of Chrysler, 313-956-4664/
 (C) CO: Chrysler Corporation ST: Michigan, Nevada IN: AUT SU:


ML -- DE007 -- 4257 08/28/92 09:28 EDT
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Publication:PR Newswire
Date:Aug 28, 1992
Words:484
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