The LT 500 featured a two cylinder two stroke engine of 386 cc, which claimed a power output of 13 hp.

[1] A road test of the time recorded that fully loaded the six seater minivan had a weight to power ratio of 95 kg per unit of horse power, which accounted for a top speed of 60 km/h (37 mph),[2] elsewhere a top speed - possibly for a less heavily loaded version - of 75 km/h (47 mph) has been quoted.

The steering, springing and, in particular, the three-speed gear box without synchromesh on any ratio attracted criticism even by the standards of 1953.

[2] The ease with which seats in the minivan could be removed to convert the vehicle to a load carrier impressed the journalists, however.

The slightly larger four stroke engine and the unsynchronized transmission were later used in the passenger car Lloyd 600 which was also a variation of the modell Alexander making the van take 6 l/100 km (39 mpg) of fuel consumption.