Modern Classic: 1962 BMW 1500

To qualify as a "modern classics," vehicles are chosen based upon comparative affordability now and that we think will increase in value over time. They are cars that many people would love to have: head-turners, trend-setters in their time, cars that people still see that make them smile, then want to hit the cruise circuit. They are cars that were definitive in their own right, stylish and fun to drive. Our focus is on cars that are at least 25 years old, so they can be registered and insured cheaply, and aren't subject to annual inspections.


Tastes may vary, as may peoples' own definitions of "affordable." Our theoretical limit is $50,000 for a car in good to excellent condition, which rules out many of the traditional exotics. This month's selection is the 1962 BMW 1500.

History
BMW's new 5-Series sedan introduction at the 1995 Frankfurt Auto Show continued a tradition—the company's 1500 Series had bowed at Frankfurt in 1961. Popularly known as the "New Class" or "New Range," the 1500 initiated a successful line of agile, midsize BMW sedans that continues to this day. Although it took another 11 months before the 1500 was in series production, BMW's future formula was clear: four doors, room for five, a sporty SOHC engine with an alloy head, fine handling, neat styling and high-speed autobahn capability.

Munich badly needed an affordable midsize sedan, a project known internally as "the family car."
BMW had lost money in 1959, and the company fought off successive acquisition attempts by American Motors, Britain's Rootes Group and Daimler-Benz. Major shareholders Herbert and Harald Quandt knew that Munich badly needed an affordable midsize sedan, a project known internally as "the family car." Believing in the marque's potential, they astutely elected to invest in this concept—on the condition that BMW would build the 1500.


Engineer Alex Von Falkenhausen was given a green light to upgrade one of his earlier engine designs. The resulting 80-bhp, 1499cc, 30-degree slant hemi-head four was mated to a 4-speed manual featuring Porsche synchromesh on all forward gears. A complete departure from the bigger, classically styled BMW 502 V-8 "Baroque Angels," the new 1500 boasted a modern unit body/chassis and fully independent suspension with MacPherson front struts and rear semi-trailing arms. Styling was conservative, but contemporary. The 1500's "kidney" grilles, tall greenhouse, low beltline, slim pillars, flat hood and deck, and straight-line bodylines were styling cues that soon became BMW hallmarks.