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CHRYSLER ACHIEVES HIGHEST MARKET PENETRATION IN 23 YEARS

 HIGHLAND PARK, Mich., Jan. 4 /PRNewswire/ -- Chrysler Chairman Robert J. Eaton announced that the company had achieved in 1993 the highest market penetration in 23 years and increased to $19.9 billion the five-year product spending plan.
 Eaton made the announcements during a state-of-the-company address at Chrysler's Auto Show dinner last night.
 Looking back over his first year as Chrysler's chairman, Eaton also disclosed that the company had increased production more than 1,000 units per day ... more than the equivalent of a new assembly plant ... without adding brick and mortar. In addition, he said the Chrysler Board approved nearly a billion dollars in new funding for capacity improvements in the powertrain and component areas.
 Eaton said 1993 sales were up about 21 percent from 1992, giving the company a 14.5 percent market share penetration ... the highest in 23 years. Overseas, Chrysler sold more than 100,000 retail units for the first time since it re-entered the international market in 1987.
 The chairman highlighted the product, production and financial successes of 1993 and then turned to the company's future.
 "No matter how good we might get, quality will always remain our top priority. You'll never hear me say that we're satisfied with our quality. If we don't hold our own feet to the fire on quality, our competition will," he said.
 Eaton said the company was lucky enough to have a customer waiting for just about every car and truck the company could build.
 In addition to increasing capacity, Chrysler has developed a new program to get the vehicles to customers faster.
 Changes to the company's order-to-delivery process have reduced to 38 days from 70 days the time between when the dealer orders and the vehicle is delivered.
 He said the company is constantly assessing and reassessing all the processes it uses to make Chrysler more responsive to the customer.
 "...we're proud of what we have accomplished, but we're not satisfied. We're not at the top of our game yet. We see our weaknesses better than anybody else. And we know they'll hurt us badly if we don't eliminate them," he said.
 The company's biggest challenge, he said, is not believing all the good media reviews and relaxing because much more work still needs to be accomplished.
 -0- 1/4/94
 /CONTACT: Lee Sechler of Chrysler, 313-252-8802/
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CO: Chrysler Corporation ST: Michigan IN: AUT SU:

KE -- DE014 -- 8883 01/04/94 11:56 EST
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Publication:PR Newswire
Date:Jan 4, 1994
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