Pontiac only built its 265-cid small V-8 for two model years, 1980 and 1981, and there aren’t many left today. This 1981 Firebird Esprit is a well-preserved survivor with that none-too-common “4.3” engine — which was also one of the very last V-8s designed and built by Pontiac.
In the mid-’70s, Pontiac scaled down its familiar 350-cid V-8 to 301 cid (4,942 cc), trimming enough weight to make it one of the lightest V-8 engines in the U.S. industry. Introduced for the 1977 model year, the 301 was used in GM’s downsized full-size and intermediate lines, and eventually in the Pontiac Firebird, offering a more fuel-efficient alternative to bigger V-8s. However, by 1980, even that wasn’t fuel-efficient enough: The federal Corporate Average Fuel Economy (CAFE) standard rose from 19 mpg to 20 mpg for 1980 and 22 mpg for 1981.
So, Pontiac de-bored the 301 to 265 cid (4,344 cc), creating a new engine officially known as the LS5 4.3 V-8. The 265 wasn’t offered on the Firebird or in California for 1980, but the LS5 V-8 was available in the 1980 federal-emissions Pontiac LeMans, Grand Am, and Grand Prix; Buick Century and Regal; and Oldsmobile Delta 88.
Even with its mandatory two-barrel carburetor, the 265 wasn’t much more fuel-efficient than the 301. In fact, the EPA estimated city gas mileage ratings that appeared on new car window stickers were often the same. For instance, in a 1980 Buick Regal or Pontiac Grand Prix, both the 265 and the 301 had EPA ratings of 17 mpg.
However, the window sticker ratings were rounded to the nearest whole number. The unrounded EPA mileage figures, which were used for calculating CAFE, showed the 265 to have a small but significant advantage. In the 1980 Regal or Grand Prix, for example, the unrounded EPA combined rating for the 265 was 20.4428 mpg, compared to 20.0093 mpg for the 301. Those extra fractions helped to balance thirstier models like station wagons and the more powerful Firebird Trans Am Turbo (which in 1980 had an EPA city rating of just 14 mpg and an unrounded combined rating of 15.9627 mpg).
To meet the higher 1981 CAFE standards, Pontiac certified the 265 engine for all 50 states and made it optional on the Firebird as well as the LeMans, Grand Prix, Catalina, and Bonneville. (Oldsmobile dropped the LS5 for 1981, but Buick still offered it in the Century and Regal.) The 1981 Firebird engine lineup looked like this:
| RPO | Engine | Maker | Power, SAE net | Torque, SAE net | EPA combined mpg (fed, unrounded) | Availability |
|---|---|---|---|---|---|---|
| LD5 | 231-2V (3.8L) | Buick | 110 hp | 190 lb-ft | 22.3810 | Base, Esprit, Formula |
| L65 | 265-2V (4.3L) | Pontiac | 120 hp | 205 lb-ft | 20.7394 | Base, Esprit, Formula |
| L37 | 301-4V (4.9L) | Pontiac | 150 hp | 245 lb-ft | 18.2203 | All |
| LG4 | 305-4V (5.0L) | Chevrolet | 145 hp | 240 lb-ft | 19.2022 | Formula, Trans Am, all Canadian models |
| LU8 | 301T (4.9L) | Pontiac | 200 hp | 340 lb-ft | 17.2433 | Formula, Trans Am |
| LG7 | 267-2V (4.4L) | Chevrolet | 115 hp | 200 lb-ft | N/A | Canadian market only |
The 265 was available on any 1981 Firebird model except the Trans Am. With only 120 net horsepower, it wasn’t a performance engine by any stretch of the imagination, but it provided a little more power than the standard V-6, and it cost only $50 more.
This maroon Firebird is an Esprit, which was the second of four second-generation Firebird models. Pontiac had always positioned the Esprit as a sporty-looking commuter car, with a plusher interior than the base car, but milder engines and softer suspension tuning than the racy Firebird Formula and Trans Am. The 265 wasn’t a bad choice for an Esprit buyer: It was smoother than the V-6 and returned about 2 mpg better mileage than the 301-4V, which also cost an extra $165.
Although the second-generation Firebird had sold amazingly well in the late ’70s, the early ’80s recession seemed to dampen buyers’ enthusiasm. Sales dipped to 107,340 for 1980 and just 70,899 for 1981. Esprit for 1981 were down to 10,938 units, so this model wouldn’t return for the third-generation Firebird in 1982.
Like 93.8 percent of all final-year second-generation Firebirds, the maroon car has Turbo Hydra-Matic, which was standard on the Esprit, along with a tall 2.41 axle ratio. You could still get a 4-speed manual on the Formula and Trans Am, but only with the Chevy 305. A 3-speed stick was technically standard on base cars with the V-6 engine, but Automotive News reported that the V-6/3-speed manual combination went into a mere 263 1981 Firebirds — true unicorns today.
I think this car has the $48 Custom Trim Group, which traded the Esprit’s standard Doeskin vinyl upholstery for Pimlico velour. It also has air conditioning, a $560 option.
Although I haven’t found any performance figures for the 265 Firebird, this was a 3,600-pound car with a 120-hp engine, a 3-speed automatic, and very tall gearing, so its acceleration was undoubtedly a walk on the mild side. I’d guess 0 to 60 mph in around 14 seconds, only adequate even for 1981.
1981 ended up being the final year not only for the second-generation Firebird, but also for the Pontiac V-8. GM didn’t see much future for V-8 engines, except maybe for Cadillac and Corvette, but they were in desperate need of Pontiac’s 151-cid “Iron Duke” four-cylinder engine for the X-body compacts and forthcoming FWD A-body cars. Pontiac engine production capacity would actually be expanded for 1982, but that capacity would be used exclusively for the Iron Duke. Production of the 265 and 301 V-8s ceased in March 1981, bringing an end to a lineage that dated back to the 1955 model year. In all, Pontiac built 14,624,886 of its own V-8 engines between the fall of 1954 and the spring of 1981.
I unfortunately don’t have a complete breakdown of final-year Pontiac V-8 production by displacement or application, but I know a few facts: Pontiac built 129,688 cars with gasoline V-8s for 1981. However, not all of those had Pontiac engines; in addition to the Chevrolet 305 offered in the Firebird, the B-body cars could have the Oldsmobile 307. Also, Pontiac supplied 34,652 V-8 engines to Buick for the 1981 Century and Regal, in addition to those used in Pontiac cars.
Sixty-seven percent of 1981 Firebird production had V-8 engines — 47,459 cars. Of those, 16,487 had the LU8 301 Turbo engine, while 7,038 were Trans Ams with the LG4 Chevrolet 305, which also went into an unknown number of Formulas and Canadian cars. Some Canadian export cars had the L39 Chevrolet 267, which wasn’t offered in the U.S. So, total production of 1981 Firebirds with the 265 or non-turbo 301 was no more than (at most) about 22,000 cars. How many of those were 265s I don’t know. (The last car off the line with a Pontiac V-8 was a Trans Am with the 301.)
Since the 265 was a one-year-only option for the Firebird, wasn’t sold in large numbers, and wasn’t terribly exciting, I suspect most survivors are long gone. Finding one that hasn’t had its engine swapped for something more powerful is somewhat miraculous, although today, I think most people would much rather have a Trans Am. This car failed to sell at Mecum Tulsa 2025 after bidding stalled out at $9,000.
Related Reading
The (Almost) Forgotten Engine: 1980-1981 Pontiac 265 CID (4.3L) V8 – Why Did They Bother? (by Paul N)
CC Capsule: 1980 Pontiac Firebird — Someone Decided This One Would Make It (by Jim Grey)
Storage Yard Classic: 1980-1981 Pontiac Firebird Turbo Trans Am – The Final Blow-Out (by Paul N)
Curbside Classic: 1981 Pontiac Firebird Trans Am – Instant Attitude (by Joseph Dennis)
I have real world experience with the 265 in our 1981 Bonneville Brougham. When the transmission and lock up torque converter were working properly, that car got 17-18 city and 25 on the highway. Now, this was in the Fort Lauderdale area so flat land and good weather.
I do recall on the window sticker that Pontiac gave a discount on the A/C for taking the 265.
As far as power, I out ran a 1979 Town Car with a 400 once! I only ever had one issue with that car when the 200-4 transmission went out at 60,000 miles. Pontiac wasn’t “interested in doing transmission work” and the local shop butchered up the rebuild. When I got the car back, 1 to 2 was positive, 2-3 drug on forever and the torque converter never locked up causing a check engine light. Sadly, we had used our savings for that work and the shop owner was a horrible man. (He was eventually put out of business by the local sheriff’s department by bringing in cars that their own shop had already gone through. When he got to vehicle number 3, the jig was up. But too late for us as we’d sold our car off)
A friend owned an 81 Firebird Espirit with the V6/3 speed manual and it was so rare! His had a few options-PS,PB, stereo, sport mirrors and Pontiac rims-but was slow!
The 231 V6 was standard in the Formula for 1981
No, for 1981 the 4.3 V-8 was standard on the Formula, with the 4.9 being standard on the Trans Am. The 3.8 was standard on the base and Espirit.
You’re both right: The 4.3 was standard on the Formula early in the model year, but moved to the options list in favor of the 3.8 later on.
Calling the 265 and 301 “true” Pontiac V-8s is correct in that they were manufactured by PMD, but from technical and engineering standpoints they’re vastly different from their predecessors. And shunned by a large part of the Pontiac community as well.
This particular Esprit is listed as “the bid goes on” on Mecum’s site. It was originally auctioned last June but apparently didn’t sell. Listed as a barn find with under 13K miles, I wouldn’t be surprised if the original owner parked it after realizing what a slug it is.
Wow, 7000 305 Chevy powered 1981 Firebirds, and I owned one of those! A 4 speed California TransAm in dark maroon Metallic like one of the pictured Firebirds. I have no recollection of the 265 but somewhere I have the 1981 Firebird brochure and will check it out.
After 40 years or so of somewhere deep down visually preferring the TransAm of this generation, I think i’ve finally made the leap to preferring the cleaner body and more “pure” appearance of this particular car (or something like Rockford’s Firebird as compared to Burt’s TA). The wheels here are great (from a TransAm, no?) and work to dress it up enough, and the duck bill on the back adds all the counterweight it needs visually. Even the color is good, not red or black but something more subtle.
As far as performance, yeah, that might be an issue, but not as I sit here at the table looking at the pictures. And for tootling around town it’s probably fine anyway. I can’t recall ever seeing a real TransAm burning through its rear tires while going sideways in real life anyway while in reality likely slower than a modern Camry so who cares. The car looks good in a driver way without being over the top perfect.
Mecum has always struck me as kind of the Buy Here Pay Here lot equivalent of the auction world. Aaron was mentioning the other day the lack of some documentation of cars from the more hoity-toity auction houses which is somewhat concerning but for some reason I think this car would have sold on just the more basic BringATrailer online auction website if the seller was engaged in the process to buyers’ satisfaction. Obviously there is always a large component of buyer beware but online at least one can ask questions and either receive information or not receive it and draw one’s own conclusions. The obvious downside is nothing beats a personal on-site inspection…
I installed a reman 265 in an ’80 or ’81 Firebird somewhere around 1986 to help a friend out. I don’t remember the driving experience now but I do recall that the 301’s had good off the line and low speed grunt.
I’m not an engineer. If you take an engine block and reduce the bore, you’ve left more “meat on the bones”, so why is a de-bored engine block lighter? I get that the pistons will be smaller and therefore lighter, but that doesn’t seem like it would offset the heavier block.
“Deboring” is a somewhat misleading term. Typically the casting cores are changed so there’s no additional weight gain. The actual block weight might even weigh a bit less, depending on just how the cores were changed. But then the change in the bore here was just about 1/4′, so even if they kept the block the same, the additional weight would have been miniscule.
The 301 was scaled down from the 350, with a redesigned block with a lower deck height and different heads, and was significantly lighter than the outgoing 350 or 400. I doubt the smaller-bore 265 was meaningfully lighter than the standard 301. It WAS somewhat lighter than the block used for the 301 Turbo, which had to be beefed up for turbocharging. (If you look at the torque output figures in the table, you’ll see why.)
I think the best way to describe the Pontiac 265 and 301 is that they were in many ways ‘new’ engines but designed to use traditional Pontiac V-8 tooling and ancillary parts. While the 265-301 block retained certain dimensions from previous Pontiac V-8’s it was a lighter casting with a 9.120″ deck height, compared to the 10.24″ deck of the 326 and larger V-8’s. The heads were quite different from earlier Pontiac V-8 heads with very small ports for high velocity at low R.P.M.’s. The intake ports were siamesed and not of equal size at the intake manifold face, an odd characteristic that was the result of the intake manifold design. Some have claimed over the years that these heads were the same as the head on the 2.5L ‘Iron Duke’, but they are not.
Pontiac put some effort into the turbocharged 301, it had a stronger block that was thicker in certain areas and some other improvements including larger fasteners. There was also a higher performance 170 h.p. 301 that was offered in 1980 only. I think it was used in the Formula Firebird, and was basically a 301T without the turbocharger. I was told that there were people at Pontiac that wanted to continue the 301 in the 3rd. gen. Firebird (supposedly it fits) but as Aaron pointed out rising 2.5L demand ended the Pontiac V-8 program after 1981.
I wrote about the Pontiac 265 in my Top 5 Worst Engines of a few years ago. All the “small V-8s” sucked big time. They really didn’t have any more gumption than the V-6 and cost more. I suppose that’s a big reason they weren’t made for long.
Thankfully here we didn’t seem to have gotten any of these, instead we had the 6 and the larger v8s. Our southern neighbours in Belgium even had the wonderful Chevy 250 straight 6 available until the end, I have even seen it in the engine bay with my own eyes.