The first post-war model to come out of the BMW stable was powered by the more advanced six-cylinder engine from the pre-war BMW 326, which now generated 65 hp rather than 50 hp. The conservatively penned bodywork rested on a robust frame with a new design and offered plenty of space for up to six travellers and their luggage. Only just under 2,300 purchasers were willing to pay the bold, self-assured purchase price of more than DM 15,000 over the period of 15 months before the BMW 501 was replaced by the BMW 501 A and the BMW 501 B models.