1991 Lotus Elan M100
Average asking price*: $13,900
Collector status: Buy and hold
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Toward the end of the ‘80s, there was a renewed longing for the kind of lasseiz-fare, wind-in-your-hair open motoring that was popularized in the ‘50s and ‘60s. That type of small, affordable roadster had been, for the most part, missing from the automotive landscape for most of the decade (the Alfa Romeo Spider the only notable exception). Mazda took note of this and, with the success of the retro-inspired RX-7 in 1979, was set to recall that essence with the MX-5 Miata in 1989. Around the same time Mazda was taking its inspiration from ‘60s roadsters—chief among them the Lotus Elan—Lotus was developing a new Elan, the M100 (or 1990s Elan). With a healthy cash infusion from its sale to General Motors in 1986, the M100 went from concept to production in just three years. Under the guiding principle of founder Colin Chapman, who died suddenly in 1982, “simplify and add lightness,” the new Elan uses a fiberglass body over a Lotus-tuned Isuzu drivetrain. The result is a 1000 kg roadster with a 16-valve DOHC 1.6 litre motor putting out a respectable 155 hp and capable of a 7.5-second 0-60 time. Styling was decidedly forward looking, with queues of it still present in the current Evora. It’s finest quality, however, is its handling. Because of the limitations of GM four-cylinder drivetrains, Lotus was forced to use front wheel drive. However, despite—or perhaps because it—the Elan offers excellent grip with minimal understeer and steering thanks to what Lotus called “interactive wishbones.” This, combined with its light weight, makes for a very tossable, balanced package. What may be most impressive about the Lotus Elan M100 is that despite being a mass-market roadster developed with the US in mind, only 559 were sold here. A high price vis à vis the MX5, during a recession at its introduction, along with a limited dealer network simply could not provide enough return. It does however make for an interesting choice for both collectors and those who desire a unique, honest sports car that draws directly from its heritage with sensible, modern looks, performance and reliability.