'the red part'
It would be for drag reduction. Subaru published wind tunnel results for fairing in this portion of their Cd 0.29,1985 XT sports coupe, in an SAE Paper which describes the entire aerodynamic development of the car.
These results are somewhere in my lectures here at EcoModder.
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Photobucket album: http://s1271.photobucket.com/albums/jj622/aerohead2/
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