Moving Upscale: AMC plots a survival strategy

AMC plots a survival strategy

American Motors Corp. has long seemed to be a wreck waiting to happen. Despite a $689 million infusion over the eight years from its French partner, Renault, AMC's performance has gone from bad to worse. Last year's sales of 77,005 down 41% from 1985, were the lowest in 30 years. As AMC piled up 1986 losses of about $90 million, it captured only .7% of the U.S. car market, trailing eight brands of imports as well as Detroit's Big Three.

But it may be too soon to consign AMC to the corporate scrap heap. Its rugged if hardly racy Jeep Cherokee...