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"Only 252 cars ever sold; the highly regarded and extremely rare luxury open-top sportscar."

10 years after the end of WWII at the 1955 Frankfurt Motor Show, BMW debuted its first sportscar since the famed 328 of the 1930s.

The 507 was a luxury open-top sportscar that was developed to compete against the Mercedes-Benz 300SL which debuted in the previous year. Its flowing form was even more graceful and beautiful than the 503 luxury coupé and Cabriolet which debuted at the same time, and received praise from all over the world. Its styling design was by the prodigy of Raymond Loewy, Albrecht von Goertz.

The specially designed chassis was powered by a tuned-up V8 OHV engine inherited from the 501/502. The 3168 cc engine produced 147 BHP and 24.0 kgfm torque, enabling the car to achieve a top speed of 200 km/h. Attaching the hardtop designed for the car, it was also possible to transform it into a flowing coupé body.

Despite its beauty and performance, Germany at the time had not fully recovered from the damage of the war, and many of the public were still unable to even purchase family cars. Meanwhile, BMW only produced an extreme lineup of high-class cars continuing from before the war, and the Isetta bubble car. The situation was placing a great financially strain on BMW, and though the 507 aimed to be less expensive than the Mercedes 300SL, its high development costs drove its price up into the same high-class price range as the 300SL. Subsequent sales were low, and only 252 of the 507 were ever produced from the end of 1956 to 1959 when its production was stopped.