But don't worry - the brand is in good hands.
Obscure British sports cars don't come much more retro or more specialized than Caterham's range. Its latest super old-school project is called the Super Seven 1600 and was revealed around a year ago, but that car seemed destined only for the UK market. Americans still have plenty to choose from though, including the mental missile known as the Caterham Seven 620, but as a relatively small automaker, the marque doesn't really innovate much. It knows what works and sticks with it, but that may just change.
The company has now been acquired by VT Holdings, the company that has been importing these sports cars to Japan since 2009. That news of full ownership by VT Holdings was meant to be released next Tuesday, but numerous leaks and rumors have forced the announcement to be made early.
VT Holdings also imports Lotuses and Royal Enfields, but its reach isn't limited to just Japan. The retailer group also has footholds in the UK, South Africa, Thailand, and Spain, so it knows how to run a successful business. The only issue that aficionados may have with this change in ownership is that a big conglomerate like this may not understand the intricacies of building enthusiasts' sports cars like the Seven, but VT Holdings has Kazuho Takahashi as its CEO, a man who's raced in the Japanese Super GT, JGTC, and Super Taikyu series for the past two decades.
Speaking of the new deal, Takahashi-san said, "We have not only purchased a globally renowned performance car manufacturer but become custodians of a motoring legend. We will protect and develop the Seven to meet the legislative challenges that lie ahead."
So it seems that VT's acquisition was the right move, especially in a world where there's a new electric vehicle almost every week and where even the most traditional and old-fashioned models have had to adapt to the regulation changes in the automotive landscape.
Graham Macdonald, Caterham's CEO, feels that the move was the right one too, saying that "Takahashi-san and the team truly understand the DNA of the Caterham brand, our heritage, our customers, and our passions."
We look forward to seeing how this new chapter in Caterham's history unfolds, but if we had to hazard a guess, we don't think it will be too long before we see a hybridized or electric version of the Seven begin development in the near future.