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The numbers represent the cubic inch displacement of the engine. Engine sizes are no longer measured in cubic inches, it's liters now days.
You used to have 283, 327, and more recently 350's, that were built using a "small block". Then you had the 396, 409, and the 427, they were the "big block" motors.
Those engines came in both auto's and trucks. In the late 50's, early 60's Chevy trucks did have a 348CID engine.
Note: These CID sizes were for Chevrolet only. Buick, Pontiac, and Oldsmobile had their own sizes.
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