Home Cars 14 Cars That Saved Their Companies From Bankruptcy
Cars

14 Cars That Saved Their Companies From Bankruptcy

Vukasin HerbezAugust 25, 2017

14. AMC Gremlin

AMC introduced the Gremlin on April 1, 1970, so many people considered it a joke. The Gremlin was a subcompact model with small dimensions and diminutive power. It also came at an affordable price, attracting the youth market. Until then, no American automotive manufacturer tried such a thing. However, AMC had to do it since it was on verge of bankruptcy as the sole independent carmaker in U.S. at the time.

Car fans have always known AMC for their inexpensive, economy cars. While Detroit’s Big Three were busy building full size machinery, AMC produced compact cars. However, by the end of the 60’s, GM, Ford and Chrysler entered the compact car field, too. This caused AMC to start losing ground. So, the answer was to go to the next level with the subcompact model.

The Gremlin was well received by the market since it was a cool, affordable car for the free-thinking early 70’s. It sold in high enough quantities to keep AMC stable for the rest of the decade. Despite the fact it saved AMC from going bust in the 70’s, it wasn`t able to save it from closure in mid-80’s.

These vehicles saved their companies from bankruptcy, and for good reason. They were innovative and gave customers what they wanted at the time. Who knows what the automobile industry would look like today if these companies had to close their doors forever.

Advertisement
Please wait 5 sec.