Max Hoffman, the BMW importer for the U.S at the time, suggested that BMW release a roadster based off of the 502 model. At the time, BMW didn’t have an automobile that could compete in the roadster market. BMW intended the car to be somewhat affordable, but due to an unexpected increase in production costs, the car wound up costing much more. This price increase scared buyers away and almost finished BMW, as they headed directly for bankruptcy. From 1956 to 1959 there were only 252 507s made and the company lost money on every single one.
Although the 507 might have been a huge financial mistake for BMW, the car demonstrated BMW’s potential to the world. The car has an aggressive, yet smooth, flowing design. It is without a doubt drop-dead gorgeous and attracted celebrity buyers, including perhaps most notably, Elvis Presley. The 507 stands as a symbol for the start of a long lineage of beautiful automobiles for decades to come.
Photos courtesy ofRM Auctions and viahemmings.com and bmwism.com
