Chrysler’s Earnings Drop 12.2%

HIGHLAND PARK, Mich. — Chrysler Corp., the nation’s third-largest auto maker, said today it earned $428.7 million in the second quarter of 1987, down 12.2% from a year ago, when earnings were inflated by the sale of foreign holdings.

Chrysler’s second-quarter 1986 earnings included a one-time after-tax gain of $131.9 million from the sale of the company’s interests in French auto maker Peugeot. In the second three months of 1987, Chrysler’s earnings came to $2 a share on sales of $6.4 billion