Peel P50, world's smallest budget car, sells for £111,000 at auction

The Peel P50, known as the world's smallest budget car, has dramatically increased in value. Originally sold for £166 in the 1960s, it recently fetched £111,000 at auction due to its rarity and unique design. Only 50 Peel P50s were produced, with about 27 still in existence. The car measures just 1.3 meters long, weighs 59 kg, and is designed for one person, lacking features like a reverse gear and gauges. The Peel P50 gained fame after being featured on Top Gear. A new company began producing replicas in 2010, catering to collectors and enthusiasts interested in this iconic vehicle.