BMW 507

The BMW 507 is a roadster produced by BMW from 1956 to 1959. Initially intended to be exported to the United States at a rate of thousands per year, it ended up being too expensive, resulting in a total production figure of 252 cars. The 507 made its debut at the Waldorf-Astoria Hotel in New York in the summer of 1955. Production began in November 1956. Max Hoffman intended the 507 to sell for about $5,000 U.S., which he believed would allow a production run of 5,000 units a year. Instead, high production costs pushed the price to $9,000 and ultimately $10,500. Intended to revive BMW's sporting image, the 507 instead took BMW to the edge of bankruptcy The company lost money on each 507 built, and production was terminated in late 1959. Only 252 were built, plus two prototypes.
The engine had a 150 hp 193.3 CUI OHV V8 that had a top speed of 122 mph. The styling of the 507 later influenced the Z3, Z4 and Z8. The 507 remains a milestone model for its attractive styling, which attracted some famous buyers. American icon Elvis Presley was the most noteworthy purchaser. In addition to owning another car, while on duty with the US Army in Germany in 1959 he bought a white 507 and brought it back with him to the US, and had the engine replaced with a 289-cubic inch Ford V-8. in 1997, it sold at an auction for US$350,000. 202 507s are known to survive in 2009 the prices for 507s have reached $900,000.