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CHRYSLER REPORTS 1992 R23 million, or $2.21 per common share, compared to a net loss of $(795) million, or $(3.28) per common share, in 1991. In the fourth quarter of 1992, Chrysler reported net earnings of $356 million, or $1.12 per common share, compared to $97 million, or

 Chrysler had total sales and revenues of $36.9 billion in 1992 compared with the previous year's $29.4 billion. In the fourth quarter, Chrysler's total sales and revenues were $10.2 billion, compared to $8.2 billion in the fourth quarter of 1991.
 Chrysler's share of the North American car and truck market stood at 13.4 percent for the 1992 calendar year, compared to 12.4 percent for 1991.
 In a joint statement Robert J. Eaton, Chairman of the Board and Chief Executive Officer, and Robert A. Lutz, President and Chief Operating Officer, said:
 "By most measures Chrysler had a very good year in 1992. We launched the Jeep(R) Grand Cherokee and our new Dodge Intrepid, Eagle Vision and Chrysler Concorde, volumes and margins were up for the year while incentive costs were lower, and our on-going cost reduction efforts continued to bear fruit. All of this reflects the tremendous effort and dedication of the entire Chrysler team, including our UAW work force.
 "While we are pleased with our 1992 results, we recognize that we must continue to improve our product launches, our cost reduction efforts and our quality and productivity gains in the future.
 "The economic recovery in the United States continues to be slow, and neither our balance sheet nor our credit rating are where we want them to be. So, despite the gains achieved in 1992, we still have major challenges ahead of us for 1993. Continuous improvement in all activities will be our primary management focus."
 For calendar year 1992, retail sales of Chrysler cars and trucks in the United States and Canada were 1,918,083 compared to 1,715,242 in 1991. For the fourth quarter of 1992, worldwide factory sales were 579,813 compared to 514,099 in 1991. International retail sales of 68,623 units were up 11 percent for calendar year 1992.
 In the first quarter of 1992, Chrysler reported a net loss of $(13) million, or $(0.07) per common share. In the second quarter of 1992, the company announced net earnings of $178 million, or $0.54 per common share. The 1992 third quarter net earnings were $202 million, or $0.62 per common share.
 Net earnings for the first quarter of 1992 included a $218 million favorable effect resulting from the adoption of a new accounting standard for income taxes. The 1991 net loss included a $257 million charge in the first quarter for a change in accounting principle related to the timing of the recognition of the costs of special sales incentive programs.
 Chrysler Financial Corporation (CFC) reported net earnings of $231 million for 1992, including a $51 million favorable effect of adopting the new standard for income taxes, compared to $276 million in 1991.
 CHRYSLER CORPORATION
 4th 4th
 Quarter Quarter Calendar Calendar
 1992 1991 1992 1991
 Total Sales
 and Revenues $10.2 $8.2 $36.9 $29.4
 (Billions)
 Earnings (Loss)
 Before Cumulative
 Effect of Change
 In Accounting
 Principle $356 $97 $505 $(538)
 (Millions)
 Net Earnings (Loss) $356 $97 $723 $(795)
 (Millions)
 Earnings (Loss)
 per Common Share
 Before Cumulative $1.12 $0.33 $1.47 $(2.22)
 Effect of Change in
 Accounting Principle
 Earnings (Loss) $1.12 $0.33 $2.21 $(3.28)
 per Common Share
 Dividends Declared
 per Common Share $0.15 $0.15 $0.60 $0.60
 Retail Unit Sales
 United States
 and Canada 500,461 421,785 1,918,083 1,715,242
 Car, Truck Share
 U.S. and Canada (pct) 14.5 13.2 13.4 12.4
 Cash,
 Cash Equivalents,
 Marketable
 Securities
 At end of Period - - $3,649 $3,035
 (Millions)
 Common Shares
 Outstanding
 At end of Period - - 295.9 292.0
 (Millions)
 -0- 1/28/93
 /CONTACT: Rita McKay, 313-956-2894, or Steve Harris, 313-956-3164, both of Chrysler/
 (C)


CO: Chrysler Corporation ST: Michigan IN: AUT SU: ERN

ML -- DE005 -- 0106 01/28/93 09:37 EST
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Publication:PR Newswire
Date:Jan 28, 1993
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