DaimlerChrysler has announced profit-sharing payments averaging $650 for 59,000 unionised employees of the Chrysler Group.

For UAW-represented employees, profit-sharing awards are a provision of the collective bargaining agreement and determined by a formula based on an adjusted profit-based pool.

Noted Chrysler CEO To, LaSorda: "Our profit-sharing pool was significantly reduced by a number of factors, the biggest being a dramatic increase in retiree pension and health care expenses and US vehicle financing."