The 2023 BMW 5-Series carries into the new year with few notable changes despite its aged design.
Choosing Your BMW 5-Series
BMW offers the 2023 5-Series in a range of trims; the 530i, 540i, 530e, M550i xDrive, and M5. Prices range from $55,795 to $109,895.
As of this writing, the 530e PHEV no longer qualifies for a tax credit following the implementation of the Inflation Reduction Act. As of August 2022, the final assembly of EVs must be in the United States to be eligible. Certain other BMW plug-ins still qualify, but the 5-Series does not. State plug-in rebates may be available, however.
All models feature an eight-speed automatic while the M550i xDrive incorporates unique gear ratios and the M5’s unit is further enhanced by M. Rear-wheel drive is standard and all-wheel drive is offered on the non-M models for $2,300.
The M550i xDrive is equipped with drive and additionally features a variable-locking rear differential. The M5’s system can be set to a rear-wheel-drive mode for tail-out fun.
The 530e is by far the most efficient with its 12 kWh battery pack that can deliver up to an EPA-estimated 21 miles of electric-only driving, however, its reduced fuel tank size limits range to just 340 miles of total range. Its onboard 3.7 kW charger requires about three hours for a full recharge. The M5, on the other hand, is penalized with a $1,000 gas-guzzler tax.
|Model||Engine||Power (hp / lb-ft)||Drivetrain||Fuel Economy (MPG)|
|530i||2.0-liter four-cyl turbo||248 hp / 257 lb-ft||RWD (AWD optional)||28 mpg(26 mpg with AWD)|
|530e||2.0-liter four-cyl turbo plug-in hybrid||288 hp / 310 lb-ft (gas and electric)||RWD (AWD optional)|
21 mi EV only (19 mi AWD)
64 MPGe (62 MPGe AWD)
|540i||3.0-liter six-cyl turbo mild-hybrid||355 hp / 331 lb-ft||RWD (AWD optional)||27 mpg (25 mpg with AWD)|
|M550i xDrive||4.4-liter turbo V8||523 hp / 553 lb-ft||AWD||20 mpg|
|M5||4.4-liter turbo V8||600 hp (617 hp with Competition Pkg) / 553 lb-ft||AWD||17 mpg|
Passenger and Cargo Capacity
The 5-Series is only offered as a traditional five-passenger sedan. It stretches to 195.8 inches long which nearly matches the Audi A6 and Mercedes E-Class while its 73.5-inch width basically splits the two.
Inside, the BMW provides 36.5 inches of rear legroom which is a couple shy of the big Genesis G80, 37.5 inches of rear headroom, and 14 cubic feet of trunk space. Folding seat backs are standard on all trims.
The BMW 5-Series features Automatic emergency braking, blind-spot detection, lane departure warning, front and rear parking sensors, and adaptive LED headlights with automatic high beams as standard and offers adaptive cruise control with traffic jam assist, lane change assist, and an enhanced collision mitigation system with front cross-traffic alert, through the Driving Assistant Professional Package for $1,700.
The Parking Assist Package ($800) helps with steering in and out of a spot and can retrace the last 50 yards in reverse. It also includes a surround-view camera system with 3D rendering.
The 5-Series features a 12.3-inch infotainment touchscreen with a console-mounted controller, Apple CarPlay, Android Auto, SiriusXM, remote-connected services, a Wi-Fi hotspot, a 12-speaker 205-watt sound system, and USB and power outlets in the front and rear. Wireless charging is $500. The Premium Package features a Harman Kardon system that is standard on the M550i xDrive while a Bowers & Wilkens 16-speaker 1400-watt sound system is available on the M5 for $3,400.
2023 BMW 530i - MSRP From $55,795
The base 5-Series wears 18-inch wheels, chrome exterior trim, and power-folding heated mirrors with auto-dimming for the driver’s side, while inside heated perforated synthetic leather sport seats feature power adjustability with lumbar support, digital gauge cluster, and proximity entry. Other comforts-focused features include multi-zone climate control, a sunroof, interior ambient lighting, and wood trim.
The Convenience Package is offered for $600 and includes heated front seats (and heated rear seats for another $500) and a power trunk lid. The Premium package ($2,250) includes those features and adds a head-up display, the premium audio system, and remote engine start (via the app).
The Executive trim ($3,150) absorbs those features and adds premium ceramic interior controls, and rear power sunshades. The Luxury Seating Package ($1,000) provides ventilated front seats with 20-way power adjustability and opens up massaging seats for $1,000 although premium leather trim is required ($2.500).
The M Sport design package is $3,050 and features unique exterior styling, 19-inch wheels, a sport suspension, an M steering wheel, aluminum interior trim, and the features of the Convenience Package. With the M Sport package selected, the Shadowline Package ($1,100) is available and adds upgraded hardware in the form of M Sport brakes with red or blue calipers and styling enhancements such as dark headlight housings, gloss black exterior trim with black chrome exhaust outlets, and a rear spoiler.
2023 BMW 530e - MSRP From $57,395
The plug-in hybrid variant is equipped with 19-inch wheels and subtly colored blue trim pieces to signify its electrified powertrain, but otherwise, generally includes and offers the same packages as the 530i.
2023 BMW 540i - MSRP From $62,595
The 540i features 19-inch wheels and offers the same packages as the 530i, although they are slightly less costly due to added standard equipment. The Dynamic Handling Package is offered for $3,500 and it includes adaptive dampers, active roll-bars for improved body control, and an adaptive drive mode that automatically adjusts the vehicle’s settings depending on driving style and the road ahead.
2023 BMW M550i xDrive - MSRP From $80,895
The M550 xDrive includes the M Sport package and offers a $500 Shadowline package that includes more gloss black exterior trim, darkened headlight housings, and dark chrome quad exhaust outlets.
The features of the Premium Package are also included as standard, as are adaptive dampers, 19-inch wheels, a sport exhaust system, leather seats, and power sunshades, while the Executive Package is offered for $1,700. The Dynamic Handling Package ($3,600) integrates M-tuned suspension with active roll-bars and four-wheel steering and the BMW M 50 Years Emblem package is available for $200.
2023 BMW M5 - MSRP From $109,895
Beyond the powertrain update, the M5 features enhanced cooling for hard track use, and M-specific tuning for the adaptive dampers, steering feel, transmission programming, and screen displays. Other upgrades include M seats that are wrapped in leather and feature an illuminated M5 logo, an M steering wheel with additional M controls, and the 50 Years of M logos.
Outside, unique front and rear bumpers, a rear spoiler, and a carbon-fiber roof panel add to the M5's exclusivity. The Executive Package is offered for $3,450 and features front massage seats, soft-close doors, heated front and rear seats, and the features of the Park Assist Package.
The Competition Package ($7,600) adds more power, 20-inch wheels, M Sport exhaust, extended application of gloss black finish to the grille and other exterior trim, and seat belts with the M color stripes while M carbon ceramic front brakes are available to replace the M5’s standard compound sport brakes for $8,500.
Top speed can be increased from 155 miles per hour to 190 with the $2,500 M Driver’s Package which also includes a lesson day at the track. Last year’s CS trim was a limited-edition 2022 trim.
Compare 5-Series Trims Side-By-Side
The 530e xDrive with the Convenience Package offers a premium plug-in hybrid option for a reasonable price increase over the standard powertrain.