Some additional info from Ricardo Grilo who runs a site, called Sportscar Portugal:
The car in the picture is António Guedes de Herédia's 6 cilinder 1275 cc MG type N "Herédia's Special" in "Parque Eduardo VII Circuit" in Lisbon. The car, in the red and white national colours, was modified locally, but not made in Portugal.
António Herédia (1901-1997) was a Viscount, olympic sailor and race driver that lived in a magnific Villa in Monte Estoril, near Cascais bay. He runned various cars since late 1920's until the late 80's!!!
He won 1934 Vila Real Circuit in one rented Bugatti 35 and is last race was Sintra´s "Pena Hillclimb" in his personal VW Polo GT, just for fun. But he runned fast enough to stay in the middle of much younger and best eqquiped rivals in the overall classification.
