I scratched the bejeezus out of the pan underneath the car unloading it off a trailer. I noticed a coiled up ribbon of that undercoating on the trailer and looked underneath. Deep gouge down to the metal on the drivers side. Aside from concerns about rust, which can be fixed with paint, any other issues? What is that coating that was on there? it looks like there were some kind of vents there too.

 

I believe the pan is used for cooling purposes and to protect the engine from debris on the road.

 

where I am talking about is well behind the engine, probably right under the drivers seat.

 

The metal one covering the tranny? Except for better aerodynamics and prevent road crap from getting up there not a lot my guess.