Pontiac Fiero in Ferrari Red

 And now for something in red...

 

 ...and no it's not a Ferrari but what I think is a 1984 Pontiac Fiero (initially misidentified as an early Toyota MR2) bedecked as one in a kind of tribute to same. The correct ID'ing was done thanks to one of the blog readers (see comments).

By the way, from what I gather, a 1984 Fiero is a collectible car in its own right although not the most sought after model or year.

Ponty.

Actually, it is said the Fiero was/is very popular among the creators of replicars, as a base for converting into copies of mid-engined supercars, and the subject is one of those conversions.

And in fact, the wikipedia entry on the Fiero says the same thing:

Currently the Fiero has a cult following of owners and customizers. While all Fiero models are considered to be collectible, the 1988 model year is particularly sought after by collectors due to its limited production numbers and vastly improved underpinnings. Because of an abundance of replacement parts available from other General Motors vehicles, there are many upgrades that can be done to improve performance and reliability of the cars. Additionally, a multitude of different General Motors engines have been installed by enthusiasts, from the Quad-4 engine to the Chevrolet small-block V8 to the Cadillac 4.9 L and Northstar V8s. The GM 3800 Supercharged is also a very popular choice, as well as the 3.4 L found in the 1993, 1994, and 1995 Camaro/Firebird. One shop in particular that pioneered and now specializes in V8 installations has even gone so far as to install the famed Z06 Corvette powerplant, the 505 horsepower LS7, into a Fiero. Installation of the 4.9 L V8 or smaller engines is possible with few modifications to the car itself, because Fiero prototypes were tested with a similar small aluminum V8 prior to production. As a result, the engine bay is large enough to accommodate engines of that size. 

The Fiero is also popular for being modified into Lamborghini and Ferrari replicas along with other custom kit car modifications.

A tribute to the Ferrari F355 ?