It is the hole for your vent tube from the fuel tank. I'm not sure about Cuda's, but '71 Challengers (and later I believe) required these for pollution control. There were 4 vent lines mounted inside the vent tube down inside the passenger rear quarter with one or two coming from the fuel tank. I recently replaced my trunk floor with one from AMD and pulled the vent tube and lines out since the new floor did not have this hole. I am also running a sending and return fuel line.