Not only have we have seen valances with that blacked out lower area before, we've also seen several original endura front bumpers with the bottom lip painted the same way. Can't really say why they were painted that way, but there are several factory pictures of '70-'72 Firebirds with the blacked out lower edges of their bumpers and valances. Maybe PMD was after a cleaner look by hiding the four black bolts that attach the lower grill brackets to the bumper.
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