In North America, Renault partnered with American Motors Corporation (AMC), lending AMC operating capital and buying a minority 22.5% stake in the company in late 1979. The first Renault model sold through AMC's dealerships was the R5, renamed Renault Le Car. Jeep was keeping AMC afloat until new products, particularly the XJ Cherokee, could be launched. When the bottom fell out of the four-wheel drive (4×4) truck market in early 1980, AMC was in danger of bankruptcy. To protect its investment, Renault bailed AMC out with cash – at the price of a controlling 47.5% interest. Renault replaced some AMC executives, and Jose J. Dedeurwaerder of Renault became President of AMC.