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CHRYSLER REPORTS SECOND-QUARTER RESULTS

 CHRYSLER REPORTS SECOND-QUARTER RESULTS
 HIGHLAND PARK, Mich., July 28 /PRNewswire/ -- Chrysler Corporation


(NYSE: C) today announced its net earnings for the second quarter of 1992 were $178 million, or $0.54 per common share.
 The earnings are a substantial improvement over the company's results for the second quarter of 1991 when Chrysler reported a net loss of $(212) million, or $(0.95) per common share.
 The results for the second quarter of 1992 also surpassed the results for the first quarter of 1992, when Chrysler reported a net loss of $(13) million or $(0.07) per common share, which included a one-time gain of $218 million resulting from a change in accounting for income taxes.
 Total sales and revenues for the quarter were $9.31 billion, an increase of 19.2 percent over the comparable 1991 period and 13.6 percent higher than the first-quarter level.
 Chrysler Chairman Lee A. Iacocca said: "We put some good earnings numbers on the board because of particularly strong sales of minivans, trucks and Jeep vehicles.
 "We achieved these results despite the second-quarter launch costs for the new LH mid-size sedans and the Jeep Grand Cherokee, which, by the way, is starting to give us some real bite in the retail market.
 "Minivan sales for the quarter were at record levels, as were Dakota pickup sales. Our combined retail car and truck share for the quarter was up nine-tenths of a point over year-ago levels.
 "Our game plan is right on schedule," Iacocca said.
 "We stuck to our investment plans for new products and facilities while cutting costs in all other areas and we're beginning to see the payoff for making product development our first priority. The Grand Cherokee is a hit and the early media and dealer reaction to the Chrysler Concorde, Dodge Intrepid and Eagle Vision has been great.
 "The Chrysler Technology Center is working as planned, allowing our teams to work together as never before.
 "I couldn't be more pleased with the direction the company is taking," he said.
 Iacocca said the economy seems to be improving and the auto market is getting stronger despite the mixed economic indicators. The strengthening economy, combined with the higher market share, pushed Chrysler's second-quarter shipments approximately 80,000 units above the first-quarter level with a richer vehicle mix and a better retail-to- fleet ratio.
 For the first six months of 1992, Chrysler reported net earnings of $165 million, or $0.46 per common share, compared to a net loss of $(810) million, or $(3.61) per common share in the first half of 1991.
 Chrysler's retail unit sales in the second quarter were 202,386 cars and 329,799 trucks and minivans in the United States and Canada. Chrysler took an 8.0-percent share of the U.S. and Canadian car market and a 22.5-percent share of the U.S. and Canadian truck market in the second quarter.
 Chrysler's worldwide factory unit sales in the first six months of 1992 were 1,072,118, compared with 898,653 in 1991.
 Chrysler Financial Corporation (CFC) reported second-quarter earnings of $49 million, compared to $80 million earned in the second quarter of 1991. Six-month earnings were $160 million, compared with $157 million in the first six months of 1991.
 Chrysler said negotiations are continuing between CFC and its bank lenders to extend CFC's revolving credit facilities which are scheduled to expire in the second quarter of 1993.
 Extension of these credit facilities is vital to maintaining CFC's current level of wholesale and retail financing support for Chrysler vehicle sales.
 Chrysler said that, although the outcome is not certain, considerable progress has been made in the negotiations and that CFC's objective is now to reach an agreement with its banks in the next few weeks.
 Here are Chrysler's second-quarter and first-half results in tabular form.
 CHRYSLER CORPORATION
 2nd Quarter 2nd Quarter Six Months Six Months
 1992 1991 1992 1991
 Total Sales
 and Revenues $9.31 $7.81 $17.51 $13.66
 (Billions)
 Earnings (Loss)
 Before Cumulative
 Effect of Change
 In Accounting
 Principle $178 $(212) $(53) $(553)
 (Millions)
 Net Earnings
 (Loss) $178 $(212) $165 $(810)
 (Millions)
 Earnings (Loss)
 per Common Share $0.54 $(0.95) $0.46 $(3.61)
 Dividends Declared
 per Common Share $0.15 $0.15 $0.30 $0.30
 Retail Unit Sales
 United States
 and Canada 532,185 474,974 962,384 883,442
 Car, Truck Share
 U.S. and Canada 13.3 pct 12.4 pct 13.3 pct 12.6 pct
 Cash,
 Cash Equivalents,
 Marketable
 Securities
 At end of Period --- 292.4 224.5
 (Millions)
 -0- 7/28/92
 /CONTACT: Tom Houston, 313-252-8790, or James Kenyon, 313-956-4664, both of Chrysler Corporation/
 (C) CO: Chrysler Corporation ST: Michigan IN: AUT SU: ERN


SM -- DE004 -- 3914 07/28/92 09:31 EDT
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Date:Jul 28, 1992
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