The fire is thought to have broken out at TVR Performance and Service Centre in Longford around 1am. Around 45 firefighters tackled the blaze but many cars were ruined and others were badly damaged. The fire was finally put out around 4.30am.
The blaze is understood to have been caused by an electrical fault and a fire investigation officer attended the scene during the day. No one was in the building at the time and it is thought nobody was injured.
Watch Commander John Anderson, of Foleshill Fire Station, said: 'The fire was quite severe and the building was extensively damaged. TVRs are very expensive cars and about seven of them were badly damaged by the fire.'
Richard Peacock, 21, is a company director who owns one of the damaged cars. His car had recently undergone around £35,000 worth of work, and was due to leave the garage next week. He said: 'It's heart-breaking, being my pride and joy.'