Interest in small roadsters increased following the launch of the Mazda MX-5 in 1989, and MG (then owned by Rover Group) capitalised on this in 1992 by producing new body panels to create an updated version of the old car. The suspension was only slightly updated, sharing the old leaf spring rear of the MGB. The boot lid and doors were shared with the original car, as were the rear drum brakes. However, the engine was the 3.9-litre version of the respected aluminium Rover V8, previously used in the MGB GT V8. A limited-slip differential was also fitted.
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