been wondering what this is for quite awhile now.....

Hard to say... looks like one of the under dash rods for a clutch linkage. 

EDIT;  Guess not , after reading coryl's post, with closer inspection of the photo it says something about removing after towing.

Edited November 10, 20169 yr by montana tom

I can't tell size from your picture, but looks to me to be a tow hook. Where did you find it?

it is the tow hook for the front end

yeah it was in trunk....it says on it "must be removed after towing"

About 8" long

How and why (and why) is this used?

ANd there was only one....should there be 2?

^^^No, you just need that one for the front.

It threads in on the front somewhere, typically the hole is under a cover, so a chain can be attached for tugging or strapping down.