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When did Chrysler buy AMC?
My dad always speaks fondly of AMC (American Motors Corporation), as he owned a Gremlin and a Pacer when he was younger. When I asked him more about the company, he told me something about how AMC just started making cars under different names and eventually was bought by Chrysler. I want to learn more. When was AMC purchased by Chrysler?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Chrysler bought AMC in 1987, including the
Jeep
nameplate due to AMC’s financial troubles, lack of profitability, and looming bankruptcy.The Detroit-based automaker purchased AMC for $1.5 billion, including a total buyout of the 46% stake owned by French automaker Renault, due to Chrysler chairman Lee Iacocca’s vision for the Chrysler brand.
At the time, Chrysler was reviving its name in the midst of a 1970s government-backed bailout and was eyeing the Jeep name to expand its brand name and reach. Today, Chrysler continues to make cars—albeit just the
Chrysler 300
and the Chrysler Pacifica
—and the Jeep nameplate is still one of the most recognized brands in existence.If your dad is still missing AMC, let him know that these following cars are inspired and built off of AMC’s innovation. In fact, some of them are still in production today!
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- Gregory R.
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