Yes, it's just a cut and shut old model C class with a 2 seater body and a trick roof. It's a bit like the MGB was a re-bodied Morris Oxford. It's a good way of producing a sports car cheaply. It also means that it tends to be cheap to run and reliable. Most manufacturers can't pull this trick any more because they've gone over to fwd - and nobody wants a front wheel drive sports car. So they either have to turn it back to front (like the MGF) and call it mid-engined (which it isn't) or put in 4wd (like the TT) with all the complication and extra weight that comes with it. Only Mercedes and BMW have the platform to do it properly.