3849b6c8__and_Decker_Drill____GICL_Wiki__Reason_for_Material_Selection
[Part Name] Bit Holder [Quantity] 1 [Model Number] 1 [Description] It is black in color [Function] Holds bit to the top of the drill [Material] Rubber [Reason for Appearance] A cognate design and fits color scheme [Manufacturing Process] Injection Molding [Reason for Material Selection] 
Flexible and molds better to the bit
Difference between revisions of "Group 12 - Black and Decker Drill" - GICL Wiki