What do you get when you cross an American wistfulness for cheap British roadsters with a Japanese firm’s readiness to speculate and innovate in order to make its global reputation?

In 1989 you got ‘Mazda Experiment, Project Number Five’, which would become the world’s fastest-selling sports car.

Matt Prior Road test editor

The idea of an affordable open-top was hardly new to Japan. Preceding decades had seen oddities such as the Datsun Fairlady, Honda S500 and Toyota Sports 800 emerge, often as their fledgling makers’ first production models. But by the end of the 1970s, with the demise of such icons as the Triumph Spitfire, MG B and original Lotus Elan, the segment was assumed to be in decline.

It was these models, though, that Mazda dissected during the MX-5’s development, and they are among the reasons why it emerged in 1989 as a small, sub-one-tonne, front-engined, rear-drive, perfectly balanced home run.

Ironically, the MX-5’s success found a counterpoint almost immediately in the lukewarm reception and ailing sales figures that greeted the all-new Elan which emerged only a few months later, lumbered as it was by a higher price, lumpier looks and front-wheel drive.