I searched and found 2 dozen threads on this problem. Read every single one and there was no consensus. Now I have it for the first time. Coming from the rear wheel arches...

-No plastic bag caught on exhaust
-Brakes were just done 5 mos ago--no scoring, glazing, rotors are not hot.

-Smell has been around only the last 2 weeks, right after i put winter tires on.

-And I only smell it after going up hills--when I get out and sniff the left rear wheel well... If I drive on a level and pull over to sniff the rear wheel well, its not there.. Although I have 100k on car I can usually make a clutch last 200k. But the clutch is at the front of the car obviously..hmm

-Brake fluid level is normal

-Car has all its power, passing in 3rd and 4th seems just fine.

 

What makes you think it's coming from the rear wheel well? Smelling something at the rear of the car while you are driving is rather unusual, especially when you can't smell it when stopped.

 

You have it backwards lol..

I am only smelling it from outside the car when I get out, its not on the inside at all--whether driving it or not. And only from the rear wells. Doesn't seem to emanate from under the hood either. Almost smells like a hot iron left on..

 

Compare the temperature of the left and right wheel bearing. Is there any signs of the wheel rubbing inside the fenderwell?

 

I actually have the same problem, its usually comes when I shift around 5-6k RPM. I always thought it was just the exhaust.

 

Probably oil leaking out of the diff case and getting sprayed onto the exhaust pipe. I had that problem a couple years ago. The warranty saved me a couple thousand dollars' worth of seal replacements at both ends of the main driveshaft.