Morgan plans to raise annual production by 100 to 650 following a £2m investment in Aero 8, its first all-new model since 1936, of which up to 250 a year will be built.

Joint managing director Charles Morgan said: “We need to increase production but will not jeopardise the hand-built standards that we have maintained since we started producing cars in 1910.”

Using BMW's 4.4-litre, 286bhp V8 and the M5's six-speed Getrag gearbox, the Aero 8 will cost “around £50,000” when UK sales start this October.