Ah, yes, I've seen pics of this, but only from the front. And the source gave the year as 1950. Anyway, does anyone know why this car is in such awful shape?
Below is a picture of the front, although it has lost some its features like the single central fog lamp in the grille.
And you are right about the date: although ideas started in 1948 it was 1950 before this sole prototype with chassis no. M 505-0001, apparently inspired by the Nash Ambassador, was built. It was intended it should have such luxury features as a radio and even air-conditioning, and was powered by a 3.3 litre straight-six engine producing 75 bhp.
Don't know why it's in this condition, but it was probably used as a test car then shoved into a barn somewhere and left to rot.
It's currently on display at the August Horch Museum in Zwickau, who intend to fully restore it to original (and presumably its original black colour).