Smallest Car In The World Comes With Big Price Tag Of £120,000

It’s the small car with the big price tag.

A tiny Peel P50 vehicle, which originally cost less than £200 when it was built in the 1960s, has sold at auction for a record-breaking £120,000.

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The world’s smallest production car is just 52 inches long – a third of the length of a new Ford Fiesta.

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It is so small that when it was built, its manufacturers didn’t give it a reverse gear as its driver could get out and simply turn it by hand.

Only 47 were built by the Peel Engineering on the Isle of Man between 1963 and 1964, and just 26 models are said to remain in existence.

The red Peel P50, from 1964, fetched £120,000 at an RM Sotheby’s auction on Amelia Island in Florida, despite having a guide price of £52,000 to £70,000.

That amazing sale price is the same as a second-hand Ferrari 458 Italia.

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In 2007, former Top Gear host Jeremy Clarkson squeezed his 6ft 5in frame into a P50 for a spin around London, and even drove it inside the BBC Television Centre.

When it first went on sale in the 1960s, the Peel P50 cost between £179 and £199 and could do 118mpg. It was marketed as being “almost cheaper than walking”.

RM Sotheby’s said: “It is the conversation piece to end all conversation pieces, and its fun factor is as astounding as its fuel economy.

“There is nothing else quite like it – or quite as small.

“Because of its diminutive size it can literally go anywhere that cars are not supposed to go.”

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