Messerschmitt M37. ( Bf 108)

Messerschmitt designed the M37 (officially named Bf-108) as one of the German entries in the FAI International Tourist Plane Competition for 1934. Its German competitors included the Klemm KI 36 and the Fieseler FI 97. Looking at them, there was definitely a theme going on. 

The Bf 108 was a thoroughly modern all-metal aircraft with monocoque construction, retractable landing gear and even folding wings. The 240 hp engine gave a cruising speed of 165 mph and great fuel economy. However, the Competition was won by the Polish teams and the first Bf-108 came in 5th. 

It was an excellent sport-recreation aircraft, and soon had several record breaking flights to its credit. The famous female pilot Ellie Beinhorn used one to fly from Berlin to Istanbul and back in one day. she gave the name Taifun to her personal craft- that became the name the company used for sales. In all 885 were built, with many being exported. The design led directly to the Bf 109, which was started in late 1934.