The Greased Gremlin is a Hot Wheels Original model that is based upon a heavily modified 1972 AMC Gremlin. The hood has to be altered to fit the ginormous engine. The front fenders have to be cut out to accommodate the eight exhausts. A push bar was mounted on the front and the back. A large wing was mounted on the roof and the driver's seat was moved to the center of the car for maximum visibility. A roll cage was added to keep the driver safe when crashing the car during high speeds.

In 1987 this model had seen its last release. It was retooled in 2008 for the 40 Years of Hot Wheels Set; retooled versions are named AMC Gremlin or AMC Greased Gremlin.