With the Elite, Lotus took a big step up-market. Launched in 1974, the Type 75 Elite (not to be confused with the Type 14 Elite of 1957) was more luxurious, and more expensive, than any previous Lotus road car. It was the first Lotus to be powered by the 907 engine, an all-alloy, DOHC four-cylinder first used in the Jensen-Healey. Its interior was designed with the help of Giorgetto Giugiaro’s Italdesign studio, and could accommodate four passengers. The fiberglass body, styled by Oliver Winterbottom, was constructed in two halves, top and bottom, with a distinctive rub strip hiding the joint.
The Elite was the first car equipped with side-impact beams in its doors, meeting U.S. safety requirements (and earning Lotus its first award for safety). Though the coupe was heavier than previous Lotus road cars at 2,240 pounds, the 160-hp output of its 1,973cc engine, backed by a five-speed gearbox, was sufficient to produce a claimed 0-60 time of 7.1 seconds.
As a 503 model, the 1976 Lotus Elite offered for sale on Hemmings.com was outfitted with halogen headlamps, tinted glass, air conditioning and power steering; the seller details additional options. With less than 24,000 original miles, and having been garaged for at least the past 35-plus years, it looks to be in very good cosmetic condition.
From the seller’s description:
We are the second owner of our Lotus since November 1980.
Has been garage kept by us and never driven in the rain or winter.
Our Lotus is the 503 model and as such is equipped with a 5-speed trans., power steering, air conditioning, power windows, Blaupunkt (original) AM/FM cassette stereo sound system, rear window defogger & wiper, and deluxe original interior.
Rebuild of brake master cylinder is needed so will require a trailer to transport.
From an historic point of view our lotus was sold to the first owner by the main United States Lotus dealer – Lotus East of Millerton, New York. It is one of 60 model Lotus Elite 503’s shipped to the United States in 1976. In a letter to me from Michael Bishop, then Lotus Factory Export Manager in 1983, he mentioned at that time (1983) that 2,530 Lotus Elites had been produced. Of that number, 600 had been shipped to the United States. During 1976, 453 Lotus Elites were produced, 80 of which were shipped to the United States, and 60 (of the 80) were the 503 model.
Our Lotus is located just a short drive north of the Lime Rock Park race circuit.
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