The TVR Number Two began with the same chassis design found on the TVR Number One, using the rear axle, springs, dampers, brakes, and steering from the Morris Eight, as well as the same side-valve Ford engine.
However, the front suspension design was changed to use wishbone control arms and a single transverse leaf spring. The bodywork was again constructed by Les Dale, and it was similar in appearance to the first car.
An auto enthusiast local to Blackpool purchased the car for use in competition, although it was eventually registered for road use in 1952. Around this time, the car was refreshed: it received a new body style with a lower nose, and some different instrumentation and equipment (including a tachometer from a Supermarine Spitfire and Marchal headlamps from a Delage.)
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