Performance chips are small electronic devices that can be installed in vehicles to enhance engine performance. They modify the engine's computer settings, allowing for improved fuel efficiency, increased horsepower, and better throttle response. These chips are often used by car enthusiasts looking to maximize their vehicle's capabilities without extensive modifications. Typically, performance chips are designed for specific vehicle models and can be easily installed by the owner or a mechanic. They work by recalibrating parameters such as air-fuel mixture and ignition timing. Popular brands of performance chips include Superchips and Hypertech, which offer various options tailored to different driving needs.