World’s smallest budget car that was immortalised on Top Gear once sold for just £166… but now it’s worth a fortune

THE world's smallest budget car that was immortalised on Top Gear and once sold for just £166 is now worth a fortune.

A teenie tiny motor from the 60s measuring at just 1.3m long and weighing 59kg would only comfortably fit a child.

But despite not being very practical, it recently sold at auction for £111k.

And it's rarity might just be the reason why.

The Peel P50 was part of a production line where, as the name suggests, only 50 were made.

Originally sourced at the Peel Engineering Company on the Isle of Man between 1962 and 1965, there are around 27 that still exist today.

It initially retailed for just £166 before being showcased on Top Gear.

The original Peel Engineering Company closed in 1974.

However the rights to their vehicles were purchased and a new company was launched in 2010. 

Now, dozens of Peel P50s are made-to-order for customers who fancy owning the mini motor.

The car only does 100 miles per gallon and has a top speed of 38mph.

It only has room for the driver and no reverse gear, so you have to get out and drag it backwards.

The P50 doesn't have any kind of gauges like a speedometer, odometer, or fuel tank gauge for the driver to look at.

It produces just four horsepower, doesn't have any windows, and has a tricky gearbox to maneuver.

But a spokesperson for the “niche vehicle website” said the model was the subject of a “brisk bidding” war at the time it was auctioned off.

The spokesperson added: “Its compact and cheeky looks make it a striking choice as a city car.

“Partly because of its glamorous history and totally unique features as well as its rarity as a model, the Peel was the object of brisk bidding until the winning £111,000.”

Motorist and YouTuber Robert Dunn described the car as a "wonderful, tiny death trap".

"This is the most terrifying car I have ever driven," Dunn said.