Before WWII, Ossa founder Manuel Giro was the Spanish sidecar champion, along with his co-pilot Francisco Bulto (who would later found Bultaco). After World War II, with improved two-stroke engine technology obtained by the Allies from DKW as war reparation from Germany, Ossa began producing two-stroke motorcycles. Its first mass-produced model was introduced in 1949.

The Ossa Stiletto was a much-admired bike in the 1970s, although Ossa’s motocross effort in the USA was minimal with the exceptions of riders Barry Higgins in 1970, John DeSoto in 1971 and Marty Moates in 1977. The 1971 Stiletto had an all-new five-speed transmission, and when combined with the torquey engine, the power was perfect for almost any situation. The saddle position was low, and the location of the pegs and handlebars was just right. The very Spanish-handling chassis, highlighted by a push at corner apex, was complemented with well-tuned Betor forks and rear suspension units.

As was the Spanish habit of the time, the bodywork and fenders were fiberglass. Though extremely fragile, they were elegantly finished with gold and red striping. Spanish motorcycles could always be identified by their highly polished engines cases, forks, hubs and Akront rims.