Looked up Austin 7 and surprised to find it's only a 750cc engine. Are they commonly hotrodded with a larger engine, upgraded suspension, etc.? At least where I live, anything that can't maintain at least 70mph cruising speed is just garage art. Just curious....
Your equivalent would be the Model T Ford. I'm sure in the US you have many in original and a restored state. What would be the point of Hot Rodding a model T?
There was a period, 1950 onwards where the Austin Seven, which (as an old banger was then very cheap. Mine cost £40 in 1967) was butchered/tuned/customised. It gave rise to many sports vehicles. Now the cars are mostly sympathetically restored. The chassis is a strange design and not suitable for a modern engine so no point in producing a 100hp version!
My one was good for 50mph and with open cable brakes; rear operated by the foot pedal, front operated by the handbrake lever, three forward gears with no synchromesh, strange rear springing that oversteers, (by poor design), 50mph felt pretty fast!
Austin raced the Seven quite successfully:
https://www.motorsportmagazine.com/archive/article/april-1947/9/development-racing-austin-seven