Thursday, July 24, 2008

Money & Business

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Reviving the Austin-Healey

By Thomas K. Grose
Posted 3/19/06

BATH, ENGLAND--Detroit's automakers in the mid-20th century were unparalleled at turning out big, often clunky cars for the masses. Yank Tanks, they were called over here. But when it came to making sleek sports cars--fast, loud, and fun to drive--the Brits were the masters. The list of classic British sports cars from that golden era reads like a near-endless road of excitement, from MG to Aston Martin to Triumph to ... Austin-Healey, an iconic marque that reached its apogee between 1959 and '68 with the 3000, a powerful roadster with sexy curves.

HEALEY 3000
CARL SUTTON--HULTON ARCHIVE/GETTY IMAGES

Now, nearly 40 years after the last 3000 rolled off the line, an Anglo-American consortium, HFI Automotive, plans to begin production of a new Healey sports car "designed to be the 3000's spiritual successor, a modern interpretation of the Healey," says Tim Fenna, HFI managing director.

As with the original, the main target market for the new Healey is the United States. Between 1952 and 1972, 200,000 Austin-Healeys were built, and most were sold in the States. Donald Healey, who with his son Geoffrey created the Austin-Healeys, "adored" America and set land speed records at Utah's Bonneville Salt Flats, says granddaughter Kate Healey.

The "Bugeye." A former top engineer at Triumph and rally driver, Donald Healey started his own motor company in 1946, often teaming with established carmakers, including America's Nash. But it was in 1952, in conjunction with the Austin Motor Co., that he wowed the auto world with the Austin-Healey 100, so named because it could exceed speeds of 100 mph--extraordinarily fast for those days. Several versions of the 100 were made during the '50s, before the line gave way to the 3000. In 1958, Austin-Healey also began making the Sprite, nicknamed the "Frogeye" or "Bugeye" because of its bulbous headlights. It was redesigned and renamed in 1963. Austin-Healey had by then become part of British Leyland, which pulled the plug on the marque in 1972.

HFI's Fenna, 36, owns Frontline Spridget, which supplies spare parts for original Austin-Healeys. His first car was a 1953 model 100 that he rebuilt. And relaunching the brand is a dream he has long harbored. Two years ago, he put together a team and began wooing the Healeys--Kate, sister Cecilia, and their mother, Margot (Geoffrey's widow)--eventually persuading them to license to HFI the rights to the Healey name for an unspecified seven-figure amount. That in itself was an achievement. The Healeys over the years have spurned many suitors, including BMW. "It was an emotional decision," says Kate Healey of the agreement with HFI. "It's our heritage, our name. It had to feel right." Fenna says the Healeys will be "significant" partners in the venture, particularly helping with marketing.

HFI has a much-tested 3000-inspired prototype it will unveil later this year, perhaps at the London Auto Show in July. Production and delivery should begin in mid-2007, Fenna says. The group plans to sell "thousands" of cars a year. "Our cars are being designed to meet U.S. certification," Fenna says. "You can't design to meet those standards and build only a few hundred." Already HFI is reserving the first 203 cars for buyers willing to pony up a down payment of about $1,700 (203 is the speed at which Donald Healey set a land speed record 50 years ago); it has gotten about 30 takers so far. The company also plans to eventually produce a new version of the Sprite.

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