Caterham has announced a new R500 sports car and while it’s debatable how attractive the bug-eyed vehicle is, there is no denying its performance credentials. The R500 is powered by a Ford 2.0 litre Duratec engine producing 263 hp.

That may not sound like a lot of power, but when you consider that the R500 weighs only 506kg that 263 hp makes for serious performance. Caterham says the R500 will hit 62 mph in under three seconds and has a top speed of 150MPH.

The standard R500 costs £36,995 and it can be optioned with a sequential gear box, launch control and a carbon induction air box as well as Eibach springs and dampers. Fully option the R500 and it will cost you £40,870.

Via Carkeys.co.uk