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It looks like something produced in the 70’s or newer. The big craze of antique cars brought out tons of similar items which probably have little value in the market. 
 

For comparison, theres two keychains in this tray of Buick items I have listed in that category just below the letter opener. The small oval one is a stamped steel from a dealership, and the round one two spots over has a return to address on the back in case it’s lost. Both of them are typical of the period represented by the car on your keychain and are vastly different in style and quality.

 

Yours is modern, but also one that someone might use everyday and not worry about.

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Mark is correct.  It's a modern novelty piece.  The quality just isn't here for it to be anything too old.  Looks like a simple cast and polished item with more generic, amateurish artwork on it.  Rare?  No idea.  If there is only one existing that makes it "rare" but being rare does not make it valuable or desirable to collectors.  Is it collectible?  I suppose so.  Everything is collectible if someone is interested.  Is there anything written on the back that might indicate whether it's a dealer provided souvenir?

Terry

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