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BMW begins restoring Elvis Presley's 507 [w/video]

Imagine the King of Rock n' Roll driving a car and you'll likely picture a pink Cadillac or a yellow De Tomaso shot full of holes. But Elvis also owned a 1957 BMW 507 roadster, and now that roadster is returning home to BMW headquarters.
The 507 was a rare bird, of which only 254 examples were ever made. They were sold mostly to celebrities and royalty, but Elvis Presley was a GI when he bought it while stationed in Germany. The example that he bought had been displayed at the Frankfurt Motor Show, used as a press car and raced by Hans Stuck (which is how Elvis came to see it in the first place), so when he took delivery of it second-hand, the dealership had a new engine installed. It was originally white, but legend has it that Elvis got tired of women writing their phone numbers on the side of it in lipstick that he had it repainted in red.
Stories differ on what exactly happened to it next, with some saying that he returned it once the lease was up and other saying that the army shipped it back to him in the States after his tour was over. But what we do know is that the car sat for many years, neglected but sheltered from the elements. Now it's heading to the the BMW Museum in Munich, where it will be on display until August 10, after which the BMW Group Classic department will undertake a comprehensive restoration of the star-studded roadster that's expected to take two years of work.

BMW M235i Racing restores our faith in 'M'

Based on the upcoming BMW 2 Series and aimed at amateur and semi-professional racers, the 2014 BMW M235i Racing is a stripped-down, race-spec coupe ready to take on the Nürburgring in the VLN Endurance Championship race series against cars from Audi, Porsche and Toyota.
Obvious in the image above (click to enlarge), BMW has given the M235i Racing the wide-body treatment with a track that has been stretched by 3.5 inches. Under the hood, the 3.0-liter turbocharged inline six-cylinder receives a power boost from a stock 322 horsepower up slightly to 333 hp, while other modifications include a full FIA roll cage, a racing fuel tank and a limited slip rear differential.
The M235i Racing replaces the M3 GT4 as BMW's factory racer, and it will be priced at 59,500 euros (close to $80,000), which is about as affordable as a factory-prepped racecar can get. The full press release is posted below, but we can't wait to see this car in action next year.

Next BMW 5 Series hits the 'Ring

Here are our latest photos showing the new BMW 5 Series, codenamed G30, testing at the Nurburgring. Based on the fairy door on the left front fender, we'll take this as the purported PHEV version that we caught last time around on German city streets. According to the insiders at BMW Blog, the 5er hybrid will take heavy inspiration from the X5 xDrive40e, including the 2.0-liter four-cylinder engine with electric assistance and a combined power rating of about 300 horsepower. The lighter CLAR architecture making its way under the 3, 5, 6, and 7 Series models is expected to remove anywhere from 80 to 100 kilograms in the 5, enabling non-US markets to partake of the 150-hp, turbodiesel three-cylinder engine at the entry-level end. However, the engine symphony will run up the scale through four-, six-, and eight-cylinder registers that include a 400-hp M550 diesel and a 600-hp V8 in the M5. The tech story is 'Go Go Gadget G30,' with rumors of autonomous abilities like being able to overtake other cars on its own – and signaling beforehand – and parking itself. Inductive charging through a floor-mounted plate, as shown at this year's Consumer Electronics Show, a new iDrive layout with a touchscreen and gesture-enabled functions, and over-the-air updates are also expected. We could see it revealed at next year's Geneva Motor Show, or maybe the 2016 Auto China, in Beijing, or sooner.