3rd gen front valance

A valance, or air dam, improves fuel economy, improves engine cooling, and improves stability in cross winds.
 
Yep in theory, that all makes sense. But we're talking about a Toyota Tacoma.


The gains in performance from aerodynamic features are not theoretical. Tacomas suck as it is in a crosswind. Getting more air underneath it at 70mph is only going to make it worse. Some people might not mind chasing the steering wheel around on the freeway and losing a mpg or two, but the OP asked what was the purpose of the air dam.
 
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