Like newer Radios .. In the 2000's
I have to turn it up to hear it
If it's a digital SW portable radio, the AM section probably uses the same ceramic filter that the SW section uses (the AM band and SW band use the same IF amp section in most SW radios).
The ceramic filter narrows the bandwidth of signals received, to reduce interference from nearby channels. There are other ways to have narrow selectivity (like Digital signal processing, and crystal and mechanical filters), but the ceramic filter seems to be the most popular way to give a radio better selectivity, probably because it's cheaper.
The plus of having a ceramic filter is that you can listen to a DX station on 760 and not get so much interference from the strong station on 750. The negative is that when you reduce the bandwidth from 8 or 9 khz (like your average GE Superadio probably has) to 6 khz or less, you lose some high fidelity (because the filter is narrowing the bandwidth, cutting out a lot of the highs) and you also can lose some volume.
Ceramic filters are great if you want to DX, or listen to a fringe-area AM station with less local interference. And some radios with ceramic filters don't have bad sound -- but most AM radios that have them tend to have a midrangy or bassy-midrangy tone to the AM sound. Not all ceramic filter supplied radios sound bad. I have a boombox that sounds good on AM, and it has a ceramic filter. I have a walkman style radio that also has one -- AM sounds pretty good on it also.
My take on it is if you want to listen to AM radio with decent fidelity, get a GE Superadio (it uses 4 IF cans to get its selectivity instead of a ceramic filter) or a transistor portable radio made in the 60's or 70's (or even a tube AM radio from earlier). A digital SW portable radio is probably the last radio you'd want to use for pleasant AM listening. Most of them I've heard do not have a full AM sound. Some of them are great for DXing, but don't have great fidelity on AM.
Another trick, try the headphone jack. Most SW portables (including digital SW portables) I've tried have better sound through headphones than they do through their speaker.
Also, like GRC said, I read somewhere that AM stations adopted a standard (maybe in the 80's?) that reduced the bandwidth of their transmissions.