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Chrysler Fast Facts, 1997
In the World Headquarters and Technology Center in Auburn Hills, Michigan, more than 10,000 Chrysler employees worked as teams, in a corporate culture based on teamwork, empowerment and inspiration.
Chrysler employees have a
for developing truly great vehicles. They do it fast because they know how to and because
cuts costs, gets Chrysler closer to its customers, energizes employees and builds momentum. And it all adds up to growth -
for Chrysler Corporation.
helped make 1996 an outstanding year for Chrysler Corporation - the best in its history. The Company set records for sales, pretax earnings and return to shareholders.
Sales of more than 2.4 million vehicles in the U.S. in 1996 were the Company's highest ever. International vehicle sales grew by 19.4 percent. Worldwide, Chrysler produced and shipped nearly three million vehicles - 50 percent more than the Company was capable of building a decade ago.
Chrysler's combined U.S. and Canada retail car and truck market share rose from 13.4 percent in 1992 to 16.1 percent at the end of 1996. Chrysler's market share increase of 1.6 percent in 1996, compared to 1995, was the largest gain of any auto manufacturer.
Chrysler reinvented the Company's product lineup and shored up its balance sheet. Total revenues of $61.4 billion for 1996 were the best ever, almost double the results of
. Meanwhile, pretax earnings for the year were $6.09 billion, with earnings per share of $4.74 - both records for Chrysler.
The Company repurchased over $4 billion of its common stock since the beginning of 1996. Chrysler credit ratings were at their highest levels since the 1970s. Standard & Poor's raised its rating of Chrysler debt to "A" from "A-" in April 1997.
At the end of 1992, Chrysler Corporation had an unfunded pension liability of $3.9 billion - in 1997, the pension fund was fully funded.
For three straight years, 1994 - 1996, Chrysler was North America's lowest cost auto producer, according to the independent Harbour Report - the annual gauge of productivity for the industry.
The 1996 J.D. Power Initial Quality Survey confirmed Chrysler's findings that the quality of its cars and trucks improved by 20 percent in one year. As measured by conditions per 100 vehicles, Chrysler has improved product quality by 39 percent since 1991. The Company has done it by relentlessly attacking quality issues one by one.
Since Chrysler established the SCORE program in August 1989, suppliers submitted more than 17,300 proposals and saved Chrysler an estimated $3.7 billion. Supplier suggestions through the SCORE program resulted in more than $1 billion of identified cost savings in the 1996 model year.
Chrysler's owner loyalty rate increased nearly 50 percent in five years. Chrysler was the only automaker to be above the U.S. industry average in both owner loyalty and new-owner conquest rates.
Internationally, Chrysler exported the first right-hand drive vehicle built in the United States by an American producer - the Jeep® Cherokee. Chrysler cars and trucks were sold in nearly 100 countries, compared to just 22 in 1991.
magazine selected Chrysler from more than 1,200 companies in all industries as its 1996 Company of the Year.
magazine named Chrysler Corporation among the 100 "best managed" world companies.
recognized Bob Eaton and Bob Lutz among its top managers of 1996.
magazine named Bob Eaton 1997 "Executive of the Year." The investment banking firm of Morgan Stanley recognized Chrysler as "Best Performing Auto Stock" of 1996.
We make no guarantees regarding validity or accuracy of information, predictions, or advice — see the
. Copyright © 1994-2000, David Zatz; copyright © 2001-2017,
(except as noted, and press/publicity materials); all rights reserved. Dodge, Jeep, Chrysler, Ram, and Mopar are trademarks of Fiat Chrysler Automobiles.
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