BMW M5 E34
The BMW E34 M5, produced from 1988 to 1995, is widely regarded as the finest super sedan of its generation and one of the greatest M cars ever produced. It refined the concept established by the E28 M5 -- a hand-finished, high-performance version of BMW's executive sedan -- and elevated it to a new level of sophistication and capability.
The heart of the E34 M5 was the S38B36 engine (later S38B38), a development of BMW M's legendary inline-six with dual overhead camshafts, individual throttle bodies, and an unburstable bottom end. The initial 3.5-liter version produced 315 hp, while the 1992 facelift brought a 3.8-liter version (S38B38) with 340 hp. Both engines were hand-assembled at BMW M's facility in Garching, near Munich, with each engine signed by its builder.
What made the S38 special was its character. The inline-six revved with a smooth, linear power delivery that built progressively from idle to the 7,000 rpm redline. There was no turbo lag, no sudden power spike -- just an endless, silky rush of acceleration accompanied by one of the finest engine notes in automotive history. The S38 combined the mechanical sophistication of a racing engine with the refinement expected of a BMW luxury sedan.
The E34 M5 was available with a 5-speed manual gearbox (Getrag 280) initially, with a 6-speed manual (Getrag 420G) introduced on the 3.8-liter version. No automatic transmission was offered -- the M5 was for drivers who wanted to be actively involved. The limited-slip differential ensured that the considerable power reached the road effectively.
The chassis was thoroughly reworked by M GmbH. Stiffer springs, revised dampers, thicker anti-roll bars, and M-specific steering calibration transformed the standard 5 Series into a car that could embarrass contemporary sports cars on a twisting road. The multi-link rear suspension provided exceptional traction and stability, while the self-leveling rear suspension maintained ride height regardless of load.
Visually, the E34 M5 was a masterclass in understatement. Only the M-specific front bumper with larger air intakes, subtle side skirts, wider rear wheel arches, quad exhaust pipes, and M badges distinguished it from a standard 535i. This discretion was deliberate -- the M5 was a wolf in sheep's clothing, capable of outrunning most sports cars while carrying four adults in comfort.
BMW also produced a Touring (wagon) version of the E34 M5, making it the first M5 estate. Only 891 Tourings were built, making them highly sought-after by collectors.
Total production of the E34 M5 was approximately 12,254 units across sedan and Touring variants. The car was sold worldwide and is now firmly established as a collector's car. Clean, low-mileage examples with the 3.8-liter engine and 6-speed manual command strong prices, while the rare Touring version is particularly desirable.
The E34 M5 represents the high point of BMW M's hand-built era, before mass production pressures changed the character of M cars. It remains one of the most rewarding cars in the BMW stable to drive, and its combination of performance, luxury, and discretion has never been surpassed.
The S38 engine is robust but requires meticulous maintenance. Check for oil leaks (valve cover, oil pan, rear main seal), VANOS operation (3.8 only), and timing chain condition. The Getrag gearbox is strong but synchros can wear. Cooling system components (water pump, thermostat, expansion tank) fail with age and should be replaced preventively. Rust affects sills, jacking points, and wheel arches. The self-leveling rear suspension can be expensive to repair. The 3.8-liter 6-speed manual is the most desirable specification. Touring versions command significant premiums.
Produced from 1988 to 1995 with hand-finishing by BMW M GmbH. Total production approximately 12,254 units (sedan and Touring combined). The 3.5-liter S38B36 (315 hp) was replaced by the 3.8-liter S38B38 (340 hp) in 1992. The Touring wagon variant (891 units) was the first M5 estate. Each engine was hand-assembled and signed by its builder.