Chrysler Earnings Set Record For Quarter

Chrysler Corp., selling some of its cars and trucks faster than it can produce them, reported the third most profitable quarter in its history on Friday.

Chrysler said it earned $1.04 billion, or $2.77 a share, in the second quarter, a seven-fold increase over the $135 million, or 35 cents a share, it earned a year ago, when the company booked expenses to revamp assembly plants.

Sales increased 27 percent to $15.8 billion - a record for any quarter - from $12.52 billion. The previous record was $15.06 billion in the fourth quarter of last year.

Chrysler corporate economist Van Bussmann said the company expects sales to remain steady through 1996. Continued increases in sales could cause problems for Chrysler - most of its plants have been running at capacity.

“We don’t have any indication that sales are trending downward, and thankfully, also, they’re not shooting upward, because we couldn’t supply them,” he said.