Chrysler Profits Are Down Sharply

Costs and lost production from the launch of its new generation of minivans combined with a steep sales plunge in Mexico to help depress Chrysler Corp.’s third-quarter profits by 46 percent.

The results released by the No. 3 domestic automaker Wednesday weren’t unexpected, since the third quarter historically is the weakest period of the year for the Big Three.

But Chrysler’s poor showing in Mexico provided a graphic illustration of the severe impact on American companies operating in that country, which has been struggling through a severe recession since late 1994.

Chrysler sold only 6,000 vehicles in Mexico for the July-September quarter. That’s fewer than it sells in the United States during a typical day. A year earlier, Chrysler sold 24,000 vehicles in Mexico.

The automaker reported net earnings for the July-September period were $354 million, or 91 cents a share, compared with $651 million, or $1.76 a share, in last year’s third quarter.