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i would say it does but.... i used some on a mb190 4cyl gas engine. i followed the instructions on the can. the motor had a miss and was alittle doggish. i started it up and within a few seconds it started smoking real bad and as the motor warmed up it stopped smoking and ran smooth and seemed to have regained some of its lost power. my vette runs great and if it didn't i am not sure i would use it in it. the magic in any can doesn't cure the problem.
I would not use it in my vette, but I do use it on small engines.
I purchased a snow blower at a swap meet for $10 - owner said it sat for a few years with gas in it and would not start. I dumped out old gas - put new gas in with Seafoam - waited about 15minutes - pulled a few times & it fired up and I ran the whole tank of gas through it. It will clean out Varnish with ease.
I've used in on boats-other cars and the vette-I swear by it! the only thing is I don't follow directions on the can-Instead, I put 1/2 in the fuel tank, and the other 1/2 thru a vac line, I never put it in the oil. Keep the RPMs up around 1500-2000 while putting it thru the vac line-it will smoke like hell for a few minutes and may cause an 02 code-it can mist the 02 sensor causing the code-don't worry, it burns off. It has really made a difference for me in the positive sense-AND, it was a visually noticeable difference on the transom of my boat, which really carboned up from trolling.