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This model is the Corgi GS32-b-2 Lotus Formula 1 JPS Racing Set consisting of a #315 Lotus Elite towing a gold trailer carrying a #154 Lotus F1 racer. Both the Lotus Elite and the Lotus F1 are decked out in Black and Gold John Player Special livery.
The Lotus Elite has opening doors. It carries paper labels to represent the front and rear lights and number plates [JPS 7 P]. More labels represent the bonnet and roof racing stripes and both doors carry paper labels that read "7 Team Car". All racing labels consist of black, gold and white stripes.
The interior of the Elite is white plastic with a black, right hand drive steering wheel cast into the black plastic dashboard casting. The glazing is amber tinted at the front, sides and rear.
The interior of the Lotus F1 consists of a white plastic driver with black helmet and a chromed steering wheel. There is no glazing on this casting. This vehicle also carries paper labels representing the JPS Racing colours and the car carries the racing number "1" on both sides and on the front aerofoil.
All wheels are of a “speedwheel” type - one piece hollow plastic with a "silver chromed" hub.
The base plate of the Lotus Elite is black plastic and is marked with CORGI at the centre top, Lotus Elite at the centre bottom and PATENT No. 1278081 in front of the rear axle to the left, MADE IN GT. BRITAIN on the right and Scale 1/36 just behind the front bumper area. It also carries a minimalist representation of the exhaust system and the differential. The base plate is held in place with four machined rivets, front and rear.
The base plate of the Lotus F1 is black painted metal and is marked with CORGI TOYS, WHIZZWHEELS and John Player Special F.1 in the centre, MADE IN GT. BRITAIN and PAT APP 3396/69 just over the front axle, and Scale 1/36 under the nose cone. The base plate is held in place with the usual two machined rivets, front and rear.
The trailer is a simple metal casting with Corgi, Made in Gt Britain cast on the underside.
This model was issued between July 1976 and was withdrawn in 1979. Corgi sold 221,000 of this model before changing the labeling to "Texaco" in 1979. In the Texaco livery it sold a further 149,000 sets until it was withdrawn in 1983. The scale was stated to be 1:36.