My son recently finished the rebuild on his 1990 Daihatsu. It has the original catalyst on it, which was working fine two years ago. The failure that led to the rebuild was fairly catastrophic, and the cat probably got a good dose of oil (in addition to the oil it had been receiving from bad valve guides, etc.)
It failed its emission test, with NOx about double the limit. HC were high, but just under the limit.
Although this car does not have OBD2, it is still pretty easy to diagnose what is causing emission problems. (The test for cars this age in Georgia is on a dyno, measuring actual emissions). (On newer cars they just read the OBD2 codes.)
By alternately creating a vacuum leak (to lean the mixture) and then richening the mixture with propane, you can see if the O2 sensor and ECU is working as expected. (You need a reasonably good, fast update,high oms/v voltmeter.) The EGR system can be checked equally easily. Both the O2 system and EGR systems were OK. The catalyst "uses" high HC and high NOx to work (one against the other in an oxidation-reduction reaction), so I figured the catalyst had breathed its last.
Amazingly, an OEM style was available at several auto parts outlets. $300 or so. Too much. A universal was available for $45. $45!! So, a little welding, a few muffler clamps... and we'd reworked the system, with the new catalyst more easily removable in case it doesn't last all that long. The old catalyst is still there, mounted right up against the engine. If it eventually clogs, we'll gut it and rely on the universal one.
The car passed its emission test with flying colors, with all emissions well within the limits. $45!
Midas wanted $150 to weld the universal cat (which I would supply) into place! (I often take muffler work to others, because I don't have a lift.) But for $150, it was worth working lying down. We removed the whole system, and blocked it up in 3D, in the garage, so it could be cut and welded and would fit right. (We welded in some adapters to bring the exhaust tubing up to the cat size and to permit using clamps).
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