Caterham has announced its upcoming entry-level model will cost 15,000 GBP (about 17,600 EUR or 23,000 USD).

Caterham has announced its upcoming entry-level model will cost 15,000 GBP (about 17,600 EUR or 23,000 USD).

It was late May when Caterham released a teaser photo announcing a new entry-level priced at less than 17,000 GBP. Now, the British marque says the car will have a starting price of 15,000 GBP to entice new buyers to this segment.

The Classic Seven replacement will be officially revealed in September and will come with a new EU6-compliant engine and different suspension setup. To make it more appealing, Caterham has focused on improving fuel efficiency without ruining the car's sporty abilities.

Caterham Cars CEO Graham Macdonald describes the new model as "a car built for the driver who wants to drive, but also for one who doesn't need extreme power."

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