Chrysler, too, has deficit but cuts 2nd-quarter level
Detroit — Chrysler Corporation reported a third-quarter loss of $490 million, bringing the auto industry's deficit to $1.7 billion for the three-month period and $3.6 billion for the year thus far. The No. 3 automaker, which went to the edge of bankruptcy last year, was the only Big Three US automaker that managed to trim its losses from the severely depressed second quarter of this year. Its losses so far this year are $1.47 billion. Ford Motor Company said Tuesday its third-quarter loss totaled $595 million, bringing its overall deficit for the first nine months of 1980 to $1.23 billion. Monday, General Motors reported $ 567 million in red ink for the quarter and a nine-month loss of $824 million.