Low Volume Motor Vehicle Manufacturers Act of 2011

Low Volume Motor Vehicle Manufacturers Act of 2011 - Revises the authority of the Secretary of Transportation (DOT) to exempt a motor vehicle or item of motor vehicle equipment from federal safety standards for purposes of research, investigations, demonstrations, training, competitive racing events, show, or display. Requires the Secretary to: (1) exempt low volume motor vehicle manufacturers from such standards, and (2) treat such motor vehicles as assemblages of equipment for purposes of determining compliance with such standards.

Defines "low volume manufacturer" as one whose total motor vehicle production claimed under the exemption is no more than 1,000 vehicles annually.

Subjects a replica of a previously manufactured vehicle only to safety standards for the model year of the body of the vehicle it replicates.

Requires a low volume manufacturer to register with the Secretary to qualify for such exemption.

Directs the Secretary to require a permanent label to be fixed to such a motor vehicle identifying the safety standards or bumper standard from which the vehicle is exempt.

Amends the Clean Air Act to allow low volume motor vehicle manufacturers who register with the Environmental Protection Agency (EPA) to install a motor vehicle engine from a motor vehicle already fully certified as meeting federal air emissions standards, including those for on-board diagnostic systems (OBD II), but excluding those for evaporative emissions.