The make and model of the car with Texas number-plates, and horns, lights and a big bull-horn on the bonnet and six spotlights on the front mudguard, was a gold painted 1958 Lincoln Continental Mark III.
This spy spoof parodied a number of story elements from the James Bond film franchise. The movie had hostile henchmen waiters (Diamonds Are Forever (1971)); a space-shuttle (Moonraker (1979)); a wet-bike and nuclear submarine (The Spy Who Loved Me (1977)); and gold-colored grease spilled from the rear of a sports car (Goldfinger (1964)).
The stock footage of the space shuttle feature in the movie that K1 wanted to blow up, is the maiden voyage of the Challenger that went into space on April 4, 1983. Indeed, a few years later, the Challenger indeed blew up on January 28, 1986, resulting in the death of all seven crew members.
Amazonian model-actress Faith Minton's character is a hench-woman named "La Fatalona" which is an Italian word which means vamp of femme fatale. Released in the same 1983 was Never Say Never Again (1983) which featured a bad Bond Girl played by Barbara Carrera called Fatima Blush.
The name of the villain was K1. The wording on the t-shirts that his henchmen wore said "I Love K1". The K1 character is only ever known by this name and has no personal name in the movie. "K1" has no designated meaning as stated by the character.