Dubbed the Seven 160, the new model starts at a measly £14,995 in component form or £17,995 fully built. Under the bonnet there is a turbocharged 660cc Suzuki engine and although this only offers up a modest 80bhp, that's still enough to power the lightweight Seven from 0-60mph in 6.5 seconds.

The Seven 160 stays true to the origins of the original Seven with a simple live rear axle, downsized engine and clutter-free cabin, helping it to achieve its remarkable 495kg overall weight. What is more, the modern Suzuki unit allows the Seven 160 to pass the latest EU6 emission regulations.

Caterham Cars CEO, Graham Macdonald, said: “The 160 offers something truly different to the entry-level market. It’s more economical, more accessible and every bit as fun on the road as other Sevens but has its own unique personality.”

Production of the Caterham Seven 160 begins in the UK in January 2014 with the first delivers in the spring.