The concept of a V8 engined MGB was hardly new; Ken Costello had been making a good living converting MGBs to Rover engines for some time, and even MG had a go with the Edward Turner V8 before building the MGC instead. When production of the C-series was cut, MG finally introduced its own Rover V8-engined version, just as the effects of the 1973 energy crisis were hitting hard. Although a great car, the MGB GT V8 sold poorly, a victim of circumstance and poor marketing. Today it offers great value, but watch out for home conversions.
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Information from Octane Magazine.