AMC was purchased by Chrysler in 1987 after being owned by for several years by Renault. Renault was really screwed up and never did much good for AMC. Chrysler started by buying Jeep a few years before for $1 billion. The next year Chrysler reported that Jeep had a net profit that year of......$1 billion. Iacocca was pretty smart to take that deal. I was working for AMC when that all happened and worked for Chrysler for one day after the purchase then went to go to the Chrysler/Mitsubishi joint venture in Illinois. I was a few weeks short of getting my 5 year pension from Chrysler when I went to Illinois and of course didn't get any credit for it from the Japanese. I guess that pension wouldn't be much good these days anyway.