Sluggish Subcompact Sales Result in a Loss at AMC

American Motors reported an $18.9-million loss for the first quarter and cited continued sluggish sales of subcompact cars.

Contributing to the loss were costs of launching the Jeep Wrangler, which replaced the Jeep CJ.

AMC’s showing was an improvement from a year earlier, when the car maker lost $29 million. The new figures put AMC’s cumulative losses since 1980 at $759 million.

President Joseph Cappy said in a statement that AMC expects some improvement this fall when it introduces a sporty imported car from Renault and again next spring when it introduces a Renault compact and a high-priced Renault sports car.

AMC’s revenue was down 1% year to year to $918.2 million.