BMW was in dire straits when the 700 was released. Whilst its economy cars had done quite well for the company, its big saloons and sporty models had lost the company money. Fortunately, the 700 was based on the economy 600 model, with its rear engine (bored out a bit) and suspension layout attached to BMW's first monocoque. With a coupe body, rather than the 'bubble' of the 600, it proved popular. A 2-door saloon gave more space, and a convertible added fun. The Sport versions with more power proved a good idea as well. There were also some competition successes. The 700 really did help BMW turn things around, and bought it time.
Standard tyre was a 520-12 crossply, with a 550-12 being specified for the last cars in 1965. The former could be replaced with a 145R12 if a radial is wanted. The latter with a 155R12.