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MiscellaneousNew Cherokee, Grand Wagoneer(?), and Chrysler 2nd Quarter Earnings
Posted by mike on 1998/7/13 0:00:00 (650) reads



Here's a little tidbit that was dropped in our lap over the weekend...

A redesigned Cherokee will likely follow one year later [in 2000], and there are rumors in the automotive trade magazines that a Grand Wagoneer is being developed, based on the next generation of the Dodge Ram pickup. However, don't look for this suburban fighter to arrive for at least a couple of years.

While we think that the "redesigned Cherokee" will probably be the 2001 Cherokee and not the 2000, the new Grand Wagoneer info is new(s) to us...

Chrysler announced its 2nd quarter earnings this morning, according to their offical press release:

Chrysler Corporation today reported earnings for the second quarter and first half of 1998 that reflected numerous records.

Second-quarter 1998 net earnings were $1.003 billion, or $1.55 per common share ($1.51 per diluted common share), compared with second-quarter 1997 net earnings of $483 million, or $0.71 per common share ($0.70 per diluted common share). Second-quarter 1998 results were Chrysler's highest second-quarter earnings per share ever and second-highest net earnings for any second quarter.

...snip...

"We are very pleased with our results for the second-quarter," said Chrysler Chairman Robert J. Eaton. "The competitive environment got tougher in the quarter, heightened by an aggressive coupon incentive battle, but breakthrough products helped us considerably.

"In fact, we just announced that our U.S. sales for June, the second quarter and the first half were all-time sales records for their respective periods," said Eaton. "Clearly these records indicate how strong the market was the first half of the year and how popular our products are with consumers. A highlight of the quarter was seeing the Chrysler Concorde and Cirrus take top honors in their segments in the recent J.D. Power Initial Quality Survey.

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