The BMW 700 is a small rear-engined car which was produced by BMW in various models from August 1959 to November 1965. It was the first BMW automobile with a monocoque structure. The 700 was a sales success at a time when BMW was close to financial ruin. The 700 was also successful in its class in motorsport, both in its stock form and as the basis of a racing special called the 700RS. More than 188,000 were sold before production ended in November 1965. Upon discontinuing the 700, BMW left the economy car market. Concept, design, and engineering Wolfgang Denzel, the distributor of BMW cars in Austria, commissioned Giovanni Michelotti to prepare concept sketches based on a lengthened BMW 600 chassis. In January 1958, Denzel was awarded a development contract for the 700. Denzel presented a prototype to BMW's management in July 1958. The concept, a two-door coupé with a slanted roof, was generally well received, but objections were raised about the limited passenger space. BMW decided to produce two versions, the coupe, and a two-door sedan with a taller, longer roof. The engineer responsible for the chassis and suspension was Willy Black, who had designed and engineered the 600. The drivetrain and suspension were similar to those of the 600, with a rear-mounted flat-twin engine powering the rear wheels, leading arm suspension at the front, and semi trailing arm suspension at the rear. The 700 used a steel monocoque structure, and was the first BMW automobile to do so. The engine was an enlarged version of that used in the R67 motorcycle and the 600. With a bore of and of stroke, the engine displaced . The engine originally used a single Solex 34PCI carburetor and had a compression ratio of 7.5:1, resulting in a power output of . Reception The coupé and saloon versions of the 700 were shown at the 1959 Frankfurt Motor Show. BMW's internal model code was E107, with the later cabriolet becoming the E110. After the show, BMW received 25,000 orders for 700s. Production of the BMW 700 coupe began in August 1959, with the saloon version following in December. The large number of orders was welcome news for BMW, which was in a financial crisis. In December 1959, shareholders blocked a proposal by BMW's supervisory board to sell BMW to Daimler-Benz. The subsequent heavy investment in BMW by Herbert Quandt has been