P.M. BRIEFING : Chrysler Announces Price Hike

HIGHLAND PARK, Mich. —  Chrysler Corp. officially announced today that tentative retail prices on its domestically built 1991 model cars will rise an average 0.9% from final 1990 prices, although its redesigned minivans could rise as much as 3.8% when compared with similarly equipped 1990 versions.

But a base-to-base price comparison of similarly equipped models shows Chrysler’s new car prices could rise an average of 1.3% overall, with price cuts placed on some of its slower-selling car lines such as the Dodge Monaco and LeBaron coupe to spur their sales, Chrysler Motors Chairman Bennett E. Bidwell said during an informal press briefing.

Prices on its aging Jeep Cherokee have tentatively been reduced by an average 4.4%, in answer to increased competition in the four-door sport utility vehicle market from new models like Ford Motor Co.’s Explorer, Bidwell said.