The BMW 503 is a grand tourer produced between 1956 and 1959. It was sold as a 2-door 4-seater coupe and convertible with rear-wheel drive and a front-mounted engine. It was co-developed with the 507, but cost about double the projected price and did not cover the development costs.

The car was powered by a 3.2-litre V8 engine with 140 hp (104 kW), mated to a 4-speed manual gearbox. This allowed it to reach speeds of up to 193 km/h (193 mph) and accelerate from 0 to 100 km/h (62 mph) in 11 to 13 s. In total, just over 400 examples were produced.