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If anything, Pontiac should be getting a small AWD coupe/sedan/hot-hatch to go up against the Evo and STI. The mainstream Chevy can be fuel efficient while the niche Pontiac can go for performance. The 260 hp 2.0L is more than enough to take on the WRX and rumored Ralliart. If GM could tweak it again to 300 it would have no problem running with the STI and Evo.
For the Cobalt, the main things it needs for gen 2 is a waaaay better interior and lighter weight.
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