The Gremlin was billed as "the first American-built import" long before Chrysler was calling their vehicles "imported from Detroit" (and later acquired AMC). Unlike the subcompact hatchbacks from Honda, Toyota, and Volkswagen, the Gremlin was built on a large-car platform and cut down to size. It was rear-wheel-drive, and came with either six cylinders or eight (notwithstanding the VW-sourced four offered later in its lifecycle).
Rear-drive and big engines, in Dunham's words, made the Gremlin something of a "poor man's Corvette," though Leno more readily calls it the "homeless man's Corvette." So the guest is clearly more enamored of his Gremlins than the host is, which would explain why Jeff has two of them – one with the six and one with the V8. The latter is in Levi's trim that would seem right up Jay's alley, if only he'd stop making fun of it. Check out the whole video above.