<PAGE>   1
 
                                                                      EXHIBIT 11
 
               CHRYSLER CORPORATION AND CONSOLIDATED SUBSIDIARIES
               --------------------------------------------------
                         EARNINGS PER COMMON SHARE DATA
                               APB 15 CALCULATION
 
<TABLE>
<CAPTION>
                                                                       YEAR ENDED DECEMBER 31
                                                                   -------------------------------
                                                                    1995        1994        1993
                                                                   ------      ------      -------
                                                                     (IN MILLIONS OF DOLLARS AND
                                                                               SHARES,
                                                                       EXCEPT PER-COMMON-SHARE
                                                                              AMOUNTS)
<S>                                                                <C>         <C>         <C>
PRIMARY:
--------
  Net earnings (loss).........................................     $2,025      $3,713      $(2,551)
  Preferred stock dividends...................................        (21)        (80)         (80)
                                                                   ------      ------      -------
  Earnings (loss) attributable to common stock................     $2,004      $3,633      $(2,631)
                                                                   ======      ======      =======
  Weighted average shares outstanding.........................      374.2       354.3        345.1
  Shares issued on exercise of dilutive options...............       10.5        10.3           --
  Shares purchased with proceeds of options...................       (7.0)       (5.8)          --
  Shares contingently issuable................................        0.4         0.4           --
                                                                   ------      ------      -------
  Shares applicable to primary earnings (loss)................      378.1       359.2        345.1
                                                                   ======      ======      =======
FULLY DILUTED:
--------------
  Earnings attributable to common stock.......................     $2,025      $3,713      $    --
                                                                   ======      ======      =======
  Weighted average shares outstanding.........................      374.2       354.3           --
  Shares issued on exercise of dilutive options...............       12.0        11.1           --
  Shares purchased with proceeds of options...................       (8.2)       (6.5)          --
  Shares applicable to convertible preferred stock............       17.4        47.9           --
  Shares contingently issuable................................        0.7         1.0           --
                                                                   ------      ------      -------
  Shares applicable to fully diluted earnings.................      396.1       407.8           --
                                                                   ======      ======      =======
PER COMMON SHARE DATA:
----------------------
  Primary:
     Earnings before cumulative effect of changes in
       accounting principles..................................     $ 5.55      $10.11      $  6.77
     Cumulative effect of changes in accounting principles....      (0.25)         --       (14.39)
                                                                   ------      ------      -------
     Net earnings (loss) per common share                          $ 5.30      $10.11      $ (7.62)
                                                                   ======      ======      =======
  Fully Diluted:
     Earnings before cumulative effect of changes in
       accounting principles..................................     $ 5.35      $ 9.10      $    --
     Cumulative effect of changes in accounting principles          (0.24)         --           --
                                                                   ------      ------      -------
     Net earnings per common share............................     $ 5.11      $ 9.10      $    --
                                                                   ======      ======      =======
</TABLE>
 
NOTE: Primary earnings (loss) per common share amounts were computed by dividing
      earnings (loss) after deduction of preferred stock dividends by the
      average number of common and dilutive equivalent shares outstanding. In
      1995 and 1994, fully diluted per common share amounts assume conversion of
      the convertible preferred stock, the elimination of the related preferred
      stock dividend requirement, and the issuance of common stock for all other
      potentially dilutive equivalent shares outstanding. Computations of
      primary earnings (loss) per common share exclude the effect of common
      stock equivalents and shares contingently issuable for any year in which
      their inclusion would have the effect of increasing the earnings per
      common share amount or decreasing the loss per common share amount
      otherwise computed. Fully diluted per common share amounts are not
      applicable for loss periods.