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 makes and models, ensuring compatibility with the vehicle's engine management system. They can be easily installed and removed, making them a popular choice for those who want a temporary boost in performance. However, it's important to note that using a performance chip may void the vehicle's warranty or affect emissions compliance.