a chain-driven oil pump, high-lift cams, a different spark advance curve, polished combustion chamber surfaces, and a compression ratio of 7.8:1, yielding DIN at 5,000 rpm. It was mated to a close ratio four-speed manual transmission. The standard rear-end ratio was 3.70:1, but ratios of 3.42:1 and 3.90:1 were optional. A contemporary road test of a 507 with the standard 3.70:1 final drive was reported in Motor Revue, stating a 0–100 km/h (0–62 mph) acceleration time of 11.1 seconds and a top speed of 122 mph. Introduction and impact The 507 made its debut at the Waldorf-Astoria Hotel in New York in the summer of 1955. Production began in November 1956. Hoffman intended the 507 to sell for about $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 then DM 29,950. This drove the U.S. price initially to $9,000 then ultimately $10,500 ($ today). Some of the prominent buyers were John Derek, Elvis Presley who owned two, Hans Stuck, and Georg "Schorsch" Meier. Despite the celebrity owners, the 507 never reached more than 10% of the sales volume achieved by Mercedes-Benz 300SL. BMW had intended for 507 to revive the company's sporting image, but the higher production cost led the company to the verge of bankruptcy. BMW lost money on each 507 built and resulted in the company's losses of DM 15 million for 1959. The company's losses led to the capital infusion from Herbert Quandt in order to prevent the bankruptcy. The launch of the new models, BMW 700 and 'New Class' 1500 helped the company recover financially. Only 252 plus two prototypes were built before the production was terminated in 1959. Legacy The styling of the 507 later influenced the Z3, the Z4, and, most noticeably, the Z8, with its chromed side vents and horizontal front grilles. The 507 remains a milestone model for its attractive styling. 202 507s are known to survive, a tribute to the car's appeal. Notable owners Elvis Presley, while stationed in Germany on duty with the US Army, bought his first 507, a 1957 model (chassis #70079 and colored feather white), which had been raced by Hans Stuck, used as a press demonstrator by BMW, and appeared in a German musical comedy entitled Hula-Hopp, Conny (released in March 1959). Because many of Presley's fans left lipstick