Chrysler first quarter healthy
NZPA Detroit Chrysler, the U.S.A.’s third largest carmaker, said its 1983 first quarter profits rose to their.highest level in the firm’s history. Chrysler escaped bankruptcy in 1979 .by obtaining SUSI2OOM in governmentbacked loans. Since then it has returned to profitability through extensive cost-cutting programmes and world-wide consolidation, earning SI7OM in 1982 from sales of SUSIOO4M. Citing rising car and truck sales, Chrysler said its 1983 first quarter profits rose to a record SUSI72.IM, exceeding its profit level for all of last year. The company’s chief financial officer, Mr Robert Miller, said Chrysler also expected to be profitable in the 1983 second quarter but he did not specify what that leVel would be.
Chrysler also disclosed its level of cash on hand and marketable securities in the first quarter rose 56 per cent to about SI4OOM, another sign the firm’s liquidity is no longer in doubt.
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Press, 27 April 1983, Page 34
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149Chrysler first quarter healthy Press, 27 April 1983, Page 34
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