The BMW 700 was well-equipped for traveling with a fair amount of luggage. The front luggage compartment, with its conveniently flat floor, was able to accommodate two standard-sized suitcases measuring 27.5" in length, together with some smaller bags. The fuel tank was beneath the luggage compartment, perfectly protected by the spare wheel standing upright in front. Offering a capacity of 6.6 imp gallons plus three liters reserve, the tank was sufficient for a cruising range of more than 300 miles since, according to the fuel consumption standards applicable at the time, the BMW 700 was quite happy to return approximately 47mpg imp.
Developing maximum output of 30hp at 5000rpm, the two-cylinder power unit was able to accelerate the Coup to a top speed of 78mph. Exactly what this meant in terms of performance became quite clear in a statement again made by Helmut Werner Bnsch, comparing the car's performance with that of the legendary BMW 327 touring sports car: "The BMW 700 Coup with its 700cc 30hp two-cylinder offers the same top speed, the same acceleration and the same safe average speed on the road as its legendary predecessor with its two-liter six-cylinder two-carburetor power unit. And it does so with the same space inside and with superior roadholding of an even higher standard."
Journalists driving the BMW 700 Coup were thrilled from the start, waxing lyrical about the car's design and its driving qualities: "Acceleration is certainly impressive for a car of this size, taking you from a standstill to 90 km/h in 20 and to 100 km/h in 30 seconds." With this kind of performance, some journalists realized from the start that the BMW 700 Coup was already looking at a sporting career: "You have the feeling that you're sitting in a car with genuine sporting values, but without the rather harsh ride and limited space typical of most sports cars."
Ultimately, most of the testers confirmed the optimism expressed by BMW's Board of Management: "The BMW 700 Coup is the latest model from Bayerische Motoren Werke and promises to be a great success and a real highlight at this year's Frankfurt Motor Show."
This is precisely what happened, the BMW 700 became a genuine highlight in Frankfurt. The new Coup was presented on the BMW booth at the 1959 Frankfurt Show at a price of DM 5300, including the car's heater. Right next to it was the four-seater Saloon based on the same engineering and design concept and destined to enter series production in early 1960.
Retailing at a price of DM 4760, the Saloon was almost DM 600 cheaper than the Coup with its higher level of equipment. At the same time, the Saloon boasted a far more spacious body offering adequate space for four adults. And unlike the Coup with its flair almost reminiscent of a sports car, the Saloon stood out in particular through its practical features and benefits.
Likewise designed by Torino coachbuilder Giovanni Michelotti, the Saloon also received its finishing touches in BMW's Design Office under Wilhelm Hofmeister. With its steeper windscreen and rear window as well as the modified roof, the Saloon, on a body otherwise identical, looked much larger than the dynamic Coup. But weighing just 10kg more than the Coup, 1411 lb Saloon was able to offer almost the same good performance, accelerating to 100 km/h in approximately 30 seconds and reaching a top speed of 75mph.
With the Frankfurt Motor Show hardly over, BMW struck a very positive balance towards the end of September: "Both new models were warmly welcomed by motoring journalists and the public alike. As a result, it sold in unusually large numbers not only in Germany, but in all its export markets.
The BMW 700 was a direct competitor for the initially cheaper VW Beetle and appealed to the motorist wishing to stand out from the crowd. Indeed, as a result of great demand customers had to wait several months for the delivery of their car, with BMW selling more than 35000 units in 1960, the BMW 700 thus accounting for some 58% of the company's overall revenues.