A couple of different threads on here made me wonder, not for the first time, if the Three Wheeler was value for money, and whether MMC are making enough out of it, after all, businesses have to make a profit to continue.
The Triking is probably the closest model to the Morgan, and it is generally accepted that you will not get a decent one on the road for less than £21k - £22k, probably more if you go for all new parts and a decent trim level, so this sets the benchmark for a quality car.
The M3W retails at around £32k, taking off the VAT brings it down to £26k or so, the dealers margin must be around £2k, add this to the fact that the car is subcontracted and only assembled at the factory, so is quite costly for MMC to buy in, leaves the basic build cost at around £24k for what is, arguably a better quality product than the Triking, [though sadly not better engineered].
This doesn't sound too expensive for a low production car - although, as always, once in the market place it will find its' own level.