The chassis was a strengthened and slightly longer version of that used in the J-type with suspension by half-elliptic springs all round with rigid front and rear axles. Steering was initially by a Marles Weller and later a Bishop Cam system. The two-seat car had a wheelbase of 87 inches (2210 mm) and a track of 42 inches (1067 mm). Most cars were open two seaters, but streamlined Airline coupé bodies were also made. The P-type was also available as a four-seater, a car that suffered from a lack of power and poor rear ground clearance. Whereas J, K and L-type MGs differentiated between versions with the use of numbers, with 1 indicating a four-seater (i.e., J1) and 2 a two-seater (i.e., J2), this was not the case with the P-type (or its six-cylinder sister, the N-type Magnette), and there is no clue to the type in the name.
The first version, the PA used an 847 cc engine similar to the one on the J-Type, but now with a 3-bearing crankshaft, larger camshaft and twin SU carburettors. It produced 36 bhp (27 kW) at 5,500 rpm.
The PB produced from 1935 had a bigger 939 cc engine made by enlarging the bore from 57 to 60 mm and this increased the output to 43 bhp (32 kW). Externally the versions are very similar, the main difference being the radiator grille, where the PA has a honeycomb and the PB has vertical slats. The other obvious difference is in the design and material of the standard dashboard.
Two thousand of the PA and 526 of the PB were produced. In 1935 a PA open two-seater cost £222.
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