The DMC-12 is powered by the PRV V6, developed jointly by Peugeot, Renault, and Volvo. The engine is derived from the Volvo B28F, fitted with a Bosch K-Jetronic fuel injection system and modified to be mounted in reverse. The PRV is a 90-degree layout, displaces 91 mm bore, 73 mm stroke. The engine block and heads are cast of light alloy and the engine features single overhead camshafts driving two valves per cylinder. When new, this engine was rated for 130 hp at 5,500 rpm. Fuel efficiency was said to be 19 mpg. Two transmissions were available for the DMC-12: a three-speed automatic and a five-speed manual transmission.

The DeLorean DMC-12 was conceived in 1973 as a stylish, affordable, rear-engine sports coupe. A total of about 9,200 DMC-12s were produced between January 1981 and December 1982. New DMC-12s had a suggested retail price of $25,000. Originally planned to sell below $15,000, the DMC-12's 1981 price rose to $26,175, then to $29,825 in 1982. Although there were no typical "yearly" updates to the DeLorean, several changes were made to the DeLorean during production. John De Lorean believed that model years were primarily a gimmick used by automobile companies to sell more cars. Instead of making massive changes at the end of the model year, he implemented changes mid-production. This resulted in no clear distinction between the 1981, 1982, and 1983 model years, but with subtle changes taking place almost continuously throughout the life of the DeLorean.

1982 DeLorean Coupe