page_title: BMW 507
section_title: Introduction and impact
hierarchical_section_title: BMW 507 / Introduction and impact
caption_attribution_description: BMW 507
context_page_description: The BMW 507 is a roadster that was 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 and heavy losses for BMW.
context_section_description: 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 US$5,000, which he believed would allow a production run of 5,000 units a year. Instead, high production costs pushed the price in Germany to DM 26,500 (later 29,950), driving the U.S. price initially to $9,000 and ultimately $10,500 ($93,000 today).  Despite attracting celebrity buyers including John  Derek and most notably  Elvis Presley (who owned two), Hans Stuck and Georg "Schorsch" Meier, and being powered by a V8 engine, the car never once reached more than 10% of the sales volumes achieved by its Stuttgart rival, the six cylinder Mercedes-Benz 300SL.
  Intended to revive BMW's sporting image, the 507 instead took BMW to the edge of bankruptcy—the company's losses for 1959 were DM 15 million. The company lost money on each 507 built, and production was terminated in late 1959. Only 252 were built, plus two prototypes. Fortunately for the company, an infusion of capital from Herbert Quandt and the launch of new, cheaper models (the BMW 700 and later the 'New Class' 1500) helped the company recover.
caption: Detail on front fender/wing
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