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STATEMENT OF CHRYSLER CORPORATION REGARDING COMMERCE DEPARTMENT'S FINAL RULING ON THE MINIVAN DUMPING CASE

STATEMENT OF CHRYSLER CORPORATION REGARDING COMMERCE DEPARTMENT'S
 FINAL RULING ON THE MINIVAN DUMPING CASE
 WASHINGTON, May 19 /PRNewswire/ -- The Chrysler Corporation (NYSE: C) issued the following statement:
 The margins announced by the U.S. Commerce Department today exceeded the preliminary finding in July, in large measure due to the outstanding, precedent-setting investigation conducted by the Department of Commerce. They plowed new ground by looking not only at the financial information furnished by Toyota and Mazda, but also their keiretsu suppliers.
 Our government has finally said, ENOUGH! There are international laws and U.S. laws which prohibit pricing below fair market value, and they will be enforced.
 The reason the Japanese manufacturers can afford to dump is because 97 percent of their market is protected for the home team. We will continue a two-pronged approach of watching for Japanese dumping in the U.S. market and continuing to try to break into the market in Japan.
 The fact that Toyota and Mazda have already repriced their minivans upwards since this case was filed is in itself a demonstration of the unfair pricing that triggered our case in the first place.
 -0- 5/19/92
 /CONTACT: John Guiniven, 202-862-5409, or Tom Houston, 313-252-8790, both of Chrysler/ CO: Chrysler Corporation ST: District of Columbia, Michigan IN: AUT SU:


KD -- DC026 -- 1968 05/19/92 15:27 EDT
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Publication:PR Newswire
Date:May 19, 1992
Words:224
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