What does BMW look like, which costs $ 5 million and nearly ruined the Bavarians

What does BMW look like, which costs $ 5 million and nearly ruined the Bavarians

August 5, 2020 0 By autotimesnews

The BMW 507 Roadster is an amazing car that came from the middle of the last century. At one time, she almost brought BMW to bankruptcy, and now the copies of this model that have survived to this day are selling for millions of dollars.

The history of the unusual car was recalled by CNBC.

The BMW 507 was born in 1956. It was a sleek two-seater sports car. Its body was made of aluminum, and under the hood was a powerful 3.2-liter 8-cylinder unit with 150 forces, which accelerated the roadster to an unheard-of 209 km / h for that time.

BMW 507 turned out so good that it gained popularity among celebrities. This was the case of Elvis Presley, actor Fred Astaire, Prince Rainier III of Monaco and other celebrities. But here’s the trouble: if the public accepted this car with a standing ovation, then for the manufacturer itself, it turned into a real nightmare.

The company planned to sell 5,000 units annually. 507s at a price of $ 5,000 apiece (today it is about $ 48,000, adjusted for inflation). However, production costs were extremely high. Each model cost $ 10,000 to make, which is the equivalent of $ 96,000 today. BMW suffered losses from this car. As a result, already in 1959, she curtailed the production of the roadster, selling only 250 copies.

After that, the Bavarians had serious financial problems. So much so that the company was almost bought out by its closest competitor, Daimler. The legendary brand was saved from bankruptcy only thanks to the investments of the German shareholder and industrialist Herbert Quandt.

But for collectors, the BMW 507 has become a very valuable and desirable car. They are willing to pay millions of dollars for it. So, in February this year, one such BMW 507 was sold at an auction for $ 2.35 million. And in 2018, a copy that belonged to former Formula 1 champion John Surtis was sold for $ 5 million.