1974 Bricklin SV1, serial number 0001. Photos by Maggie Pinke, courtesy Mecum Auctions.
Blame it on an overly ambitious safety-centric design, lack of sufficient start-up capital or build quality that was, in a word, marginal, but Malcolm Bricklin's SV1 sports car was doomed to failure almost from the start. In 1974, its first production year, a mere 780 examples were built in Bricklin's New Brunswick, Canada, factory, and car number 0001, in Safety Suntan beige, went to the company's founder and namesake. On October 10, this first production 1974 Bricklin SV1 will cross the auction block in Chicago, giving collectors of the unusual a chance to buy a piece of automotive underdog history.
When it came to business, Bricklin was a man who believed in dreaming big. Franchising the family's building supply business left him flush with cash, which he then invested in becoming Subaru's first U.S. importer. Designed for the Japanese market, the Subaru 360 offered little beside a low price to attract American buyers. When Consumer Reports gave the car a disastrous review, Bricklin sold his stake and moved on to his next project: launching the Safety Vehicle 1 sports car.
Dune buggy designer Bruce Meyers was called in to construct the concept, while Herb Grasse designed the models used to pitch the idea to authorities in New Brunswick. The SV-1 would use impact-absorbing bumpers and a steel safety cage to protect occupants, exceeding established U.S. DOT crash protection standards. Its dent-resistant polymer and fiberglass body would be pigment impregnated in bright colors to make the car highly visible, and it would be priced at a point that many consumers could afford.
Desperate to address regional unemployment, New Brunswick eagerly offered Bricklin up to $24 million in financing to build a factory in the province, including a $4.5 million up front loan to kick off production. Instead, Bricklin used the money to finalize the car's design, not yet set during his initial discussions with Canadian officials.
Production began in 1974, with American Motors supplying both the driveline and suspension components, eliminating the need to design systems and parts from scratch. Power came from AMC's 360-cu.in. V-8, rated at 225 horsepower and mated to the buyer's choice of a four-speed manual or four-speed automatic transmission. The Bricklin SV1 was offered in just one trim level, and with no available options, leaving buyers to decide only on the car's color (Safety Red, Safety Green, Safety Suntan, Safety White or Safety Orange).
The SV1's pre-launch price was projected to be $4,000, which quickly rose to $6,500 when Bricklin began to tabulate his production costs. Subsequent price hikes saw the SV1 climb to $7,490 in late 1974, and then to a jaw-dropping $9,980 for the 1975 model year. It's likely this was close to the car's production cost, as Bricklin is said to have lost money on all cars sold during 1974.
Price hikes were not the company's only trouble during the SV1's first year on the market. AMC had difficulty meeting component delivery schedules, prompting Bricklin to sign an agreement with Ford for second-year engines and transmissions. Ford's 351 V-8 was rated at 175 horsepower, which represented a "loss" of 50 hp compared to the 1974 model, yet the 1975 model stickered for as much as $3,480 more than first-year cars, a fact that didn't go unnoticed among potential buyers.
Worse, perhaps, the SV1 quickly developed a reputation for shoddy build quality among buyers. Its flexible body caused door seal leaks in the rain, and its battery was prone to draining. An inconvenience on most cars, this was a true safety hazard on the Bricklin, which required battery power to open its electro-hydraulic gullwing doors. No matter how safe or comfortable, few owners relished the idea of being trapped inside a new car.
Sales never approached the projected levels, and by the summer of 1975, New Brunswick cut off funding to Bricklin, forcing the company into receivership in September of 1975. By then, Bricklin had built roughly 2,900 SV1s, of which approximately 1,500 remain today.
Serial number 0001, Bricklin's personal SV1 and the car to be offered in Chicago, was built on June 24, 1974. In the 41 years since leaving the assembly line, the Safety Suntan coupe has amassed just over 13,000 miles, and is presented in unrestored condition.
Mecum's Chicago sale takes place from October 8 – 10 at the Schaumberg Convention Center in Schaumberg, Illinois. For more information, visit Mecum.com.
from Hemmings Daily - News for the collector car enthusiast http://ift.tt/1hfHCQ3
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