Pontiac Fiero

The Pontiac Fiero an economy commuter car?  That's how GM marketed the sporty coupe, which was Pontiac's first 2-seater since 1938.  GM had originally intended the Fiero to be a sports car (hence, the Ferrari-sounding name), but budget constraints forced them to ditch the original suspension design and steal parts from other GM cars.  The result was a sporty coupe that didn't actually deliver racing performance with a meager 98-hp 2.5-liter I4 engine in a heavy body.  
But the Fiero stood out for being the only North American car to feature a mid-mounted engine, which enhanced balance, handling, and performance.  Introduced in 1984, the notchback coupe was named one of the Ten Best by Car and Driver and was chosen over the Corvette to be the Indy pace car.  A 1984 Limited Indy trim paid tribute to this designation.  But 1984 also saw some problems with overheating and engine fires, that were quickly addressed by GM in recalls.
In 1985, a faster GT appeared, with a more powerful 140-hp 2.8-liter V6 engine and 4-speed Muncie transmission. The sporty Fiero now not only offered a more satisfying ride, but it was still incredibly fuel-efficient.  A fastback version was introduced the following year and rebranded as the GT.  Modifications in 1987 added a more aerodynamic front end.  A very limited number of the custom-made Fiero Mera were offered in 1987.  The Fiero Mera was a Fiero given a Ferrari 308-like body.  A threatened lawsuit by the Italian automaker stopped production.
1988 was the last year of the short-lived Fiero, even though it saw a major redesign that gave it a new independent suspension more in line with its original design years earlier.  The new Formula trim is felt to be one of the best Fieros ever produced.  But GM claims the Fiero was never profitable and they could not afford to keep manufacturing the coupe.  A 1990 prototype was displayed, but never went into production, and Pontiac would not offer another sports coupe until the 2006 Solstice.  Because it shares so many parts with other GM vehicles, however, the Fiero is popular with tuners and is easily customizable.