Ah, the 1981 Pontiac Firebird Esprit! An iconic car that embodies an era when V8s ruled the American roads. With its 4.3L engine, this model is one of the last vestiges of a lineage that has marked automotive history. But what is this sleeping beauty really worth?
A legacy of power
Pontiac only produced its 265 cubic inch (4.3 litres) V8 engine for two model years, 1980 and 1981. Today, few remain. This 1981 Firebird Esprit stands as a well-preserved survivor, proudly showcasing this uncommon engine—one of the last V8s designed and manufactured by Pontiac.
In the 1970s, Pontiac had to adapt to new fuel economy standards. At that time, the company reduced its famous 350 cubic inch engine to 301 cubic inches (4,942 cm³), becoming one of the lightest V8 engines in the American industry. Introduced for the 1977 model year, the 301 was used in GM’s intermediate lines and then in the Pontiac Firebird, offering a more fuel-efficient alternative. But even that was not enough: with rising fuel economy standards, it was time to react.
The birth of the LS5
Pontiac thus further reduced the 301 to 265 cubic inches (4,344 cm³), giving birth to the engine officially known as the LS5 4.3 V8. Although this engine was not offered on the Firebird or in California in 1980, it was available in other Pontiac, Buick, and Oldsmobile models.
Despite its imposing two-barrel carburettor, the 265 was not much more economical than the 301. EPA fuel economy estimates for new cars often displayed the same figures for both engines. For example, a 1980 Buick Regal with a 265 engine had a rating of 17 mpg, identical to that of a model equipped with the 301.
The specifications of the Firebird Esprit
In 1981, the 265 engine was offered on all Firebird models except the Trans Am. With only 120 horsepower, it did not claim spectacular performance but offered a slight power advantage over the standard V6, for an additional cost of $50. This maroon Firebird is an Esprit, the second of the four models of the second generation. Pontiac always positioned the Esprit as a sporty-looking car but with a more refined interior and less powerful engines than the Firebird Formula and the Trans Am.
The 265 was not a bad choice for an Esprit buyer. Smoother than the V6, it also offered about 2 mpg better than the 301-4V, which cost an additional $165. However, despite commercial success in the 1970s, the recession of the 1980s saw sales plummet, with only 70,899 units sold in 1981.
A quiet drive
Although I could not find specific performance figures for the 265 Firebird, one can imagine that this model weighing around 1,630 kg with its 120 horsepower engine and three-speed automatic transmission was anything but sporty. I would estimate the 0 to 100 km/h around 14 seconds, a rather sluggish performance even for the time.
This engine was certified to meet the stricter CAFE standards of 1981, allowing Pontiac to offer it on all its models. About 67% of the 1981 Firebirds were equipped with V8 engines, but few of them were 265s. Indeed, the total production of Firebirds with this engine likely did not exceed 22,000 units.
A rarity to cherish
Given that the 265 engine was a unique option for the Firebird and was not sold in large quantities, I suspect that most survivors have now disappeared. Finding an example that has not undergone an engine swap for something more powerful is almost miraculous. This model attempted to sell at a Mecum auction in 2025, but bidding stopped at $9,000.
The end of 1981 marked not only the last year of the second-generation Firebird but also the end of the Pontiac V8. GM saw little future for these engines, perhaps only for Cadillac and Corvette. Production of V8 engines ceased in March 1981, ending a lineage that dated back to the 1955 model year.
A final tribute
While the 1981 Pontiac Firebird Esprit may seem modest with its 265 cubic inch engine, it represents an important chapter in American automotive history. Even though today many would prefer a flamboyant Trans Am, this version deserves to be celebrated for its heritage and timeless style. If you come across one of these rarities, consider yourself lucky!
