Collectibility
Scarcity, and the fact that it is a 1970s car, makes the Gremlin collectible, and it has a following among old car hobbyists and collectors of historic vehicles. In some cases, the Gremlin enjoys "a cult-like following in today's collectible car market. In 2007 Business Week reported that 1970s cars such as the Gremlin were increasingly attractive to buyers, and an insurance provider for collector-car owners reported that values were rising.
In light of rising gasoline prices, the Gremlin offers a relatively economical alternative to muscle cars and the more massive American cars of its era-especially for buyers leaning toward the eccentric. AMC said the Gremlin got "the best gas mileage of any production car made in America", and its 21-US-gallon (79 L; 17 imp gal) gas tank allowed 500 miles (805 km) or more between fill-ups.
It has been said that scarcity makes any Gremlin in good condition worth preserving as a unique piece of automotive history. Original Gremlins with the V8 engine, X package models, Levi's trim, and also the 1978 GT versions, are the most sought-after and command higher prices.
Although Gremlins share numerous parts and components with other AMC models, finding parts for a restoration project can be difficult. This is exacerbated by the fact that many Gremlins were chopped up during the late 1970s and the 1980s to make dirt-track racers. The body of choice on the dirt circuit was the Gremlin and AMC Eagle. The subcompact bodies fit Modified chassis and of special interest was the Gremlin's slab top and sides with a contour that was easy to duplicate in sheet metal.
Over the years, many owners have converted Gremlins into home-built "muscle cars" because AMC engines up to the 401 cu in (6.6 L) "just drop right in".
There are active AMC car clubs with numerous local chapters to assist Gremlin owners.
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