VATS stands for Vehicle Anti-theft System and is also known as PASS-Key (Personal Automotive Security System). Each VATS key has a resistor embedded within the key-blade, and each resistor has 1 of 15 possible values. Sometimes the resistors are referred to as a Vats Pellet or Vats Chip. Vehicle Anti-Theft System Information courtesy of Vatskey.com. Corvsport Page References: 1986 Corvette.
Voluntary Restraint Agreement (VRA)
When the automobile industry in the United States was threatened by the popularity of cheaper more fuel efficient Japanese cars, a 1981 voluntary restraint agreement limited the Japanese to exporting 1.68 million cars to the U.S. annually.
The Japanese automobile industry responded by establishing assembly plants or “transplants” in the United States to produce mass market vehicles. They also began exporting bigger, more expensive cars (soon under their newly-formed luxury brands like Acura, Lexus, and Infiniti). Voluntary Restraint Agreement content courtesy of Wikipedia. Corvsport Page References: 1985 Corvette.