2023 BMW 5 Series Overview

The G30 5 Series is now in its final year, following a refresh for the 2021 model year. This seventh-generation 2023 BMW 5 Series fills mostly the same niche as it always has: it provides dynamic driving with understated looks and a plush interior. With four engine choices, a mostly-modern suite of technology, and lots of driver assistance goodies, it’s still a fan favorite in the luxury sedan segment, despite more options than ever from rivals like Genesis, Mercedes-Benz, and Audi.

BMW 5 Series Engine, Transmission, and Performance

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Standard issue for the 2023 BMW 5 Series is the 530i or 530i xDrive for those that need all-wheel drive. A turbocharged four-cylinder sits under the hood providing 248 horsepower and 258 pound-feet of torque. It’s not going to win any drag races, and BMW estimates that zero to 60 mph takes around 5.9 seconds. The sweetheart of the group is the 540i, which uses the ubiquitous B58 turbocharged six-cylinder making 335 horsepower and 332 pound-feet of torque. With xDrive, it’ll dash from a standstill to 60 mph in a remarkable 4.6 seconds – only about half a second slower than the last-generation F10 M5.

A plug-in hybrid 530e is available, too, pairing the four-cylinder with a battery and motor setup. It makes 288 horsepower and 310 pound-feet of torque. Though it’s an economical option for those that can live with the short all-electric range, it’s a bit of a shame BMW didn’t pair it with the inline six for gratuitous acceleration potential.  

The group’s top performer (sans the incredible M5, of course) is the M550i xDrive. It relies on a twin-turbo V8 producing 523 horsepower and 553 pound-feet of torque and rockets through the quarter mile in 11.8 seconds. It’s considerably faster than, well, most cars, and is worth the premium if you crave performance. From zero to 60 mph, it’s even pretty close to matching the mighty R35 Nissan GT-R.

Fuel Economy and MPG

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Despite its hybrid powertrain, the 530e does not technically lead the pack when it comes to fuel economy. That crown goes to the 530i, rated at 25 city / 33 highway / 28 combined. Thanks to its 18-gallon fuel tank, the most efficient 2023 BMW 5 Series versions will take you an EPA-estimated 504 highway miles on a full tank. Even the 540i, with its powerful inline six-cylinder, returns 27 MPG combined.

The V8-powered M550i xDrive trails the pack as expected with a fairly terrible 20 MPG combined, and you can view all the 2023 BMW 5 Series fuel economy statistics here.

Interior and Cargo Space

2023 BMW 5 Series interior - M Sport

The 2023 BMW 5 Series does a good job of living up to its reputation as the junior 7 Series. Plenty of luxury options are available, like the Luxury Seating Package, which adds multi-contour ventilated seats. Heated front seats are not standard but are packaged in the $600 Convenience Package that also adds a power tailgate. If you’re buying a 5 Series, we recommend looking into the Premium Package for $2,500, which adds a lot more refinement to the vehicle via remote start, rear heated seats, and a Harman Kardon surround sound system.

The trunk measures 14 cubic feet (the hybrid version gets only 10), and the backseats provide ample storage space if you aren’t hauling extra passengers. A 40/20/40 split folding rear seat makes the luxury sedan even more practical.

2023 BMW 5 Series Technology and Connectivity 

iDrive 7

BMW iDrive operating system 7 displays wireless Android Auto and Apple CarPlay on a standard 12.3-inch center display. Virtual Cockpit comes standard too, but a head-up display is extra. MyBMW app integration is standard, too, and pairs great with the Remote Start feature. The Executive Package adds serious luxury with additions like ceramic controls and rear sunshades and offers serious value for buyers looking for 7 Series levels of opulence without breaking open their piggy bank.

Safety and Driver Assistance Features

The 2023 BMW 5 Series comes standard with Active Driving Assistant. That’s BMW speak for frontal collision warning, Active Blind Spot Detection, Lane Departure Warning, and speed limit info. In addition, the $1,700 Driving Assistance Professional Package adds radar and camera-assisted cruise control and is also available across the whole lineup. Remarkably, the 2023 BMW 5 Series is an IIHS Top Safety Pick+.

BMW 5 Series Pricing

The 2023 BMW 5 Series starts at $56,000. That undercuts the Audi A6 and Mercedes-Benz E Class by just a little bit but trails behind the Genesis G80 by almost $5,000.

2023 BMW 5 Series: G30 LCI

2023 BMW 5 Series FAQ

When will the 2023 BMW 5 Series be available? 

The 2023 BMW 5 Series is available to order now.

When is the next BMW 5 Series generation coming out?

Soon. 2024 will mark the beginning of a new generation for the BMW 5 Series.

Is there an electric BMW 5 Series?

Not yet. The BMW i5 is scheduled to come out with the next generation BMW 5 Series.

Is buying a 2023 BMW 5 Series worth it?

Yes, but make sure it’s the right car for you. It’s a luxurious cruiser and boasts performance in some trims that is worthy of the BMW reputation. While, in some ways, the car will feel dated when the all-new 2024 BMW 5 Series comes out, it still offers a good value today.