2024 BMW 5 Series: Everything You Need to Know

The long-awaited 2024 BMW 5 Series is here, with production starting soon ahead of the October 2023 market launch. New technology, compelling performance, a significant cosmetic update, and an exciting all-electric variant mean that there’s something for pretty much everyone to appreciate. More than ever, the eighth generation of the BMW 5 Series feels like a “7 Series Jr.,” sharing more in common with the contemporary flagship than the smaller 3 Series. While few cars are all things to all people, the 2024 BMW 5 Series takes a darn solid run at it.

New Engine and Performance Upgrades

Discounting the fully-electric i5 – covered in our BMW i5 Buyer’s Guide – the 2024 BMW 5 Series sees modest performance increases throughout the range. The 530i increases output to 255 horsepower and 295 pound-feet (+7 hp, +38 lb-ft) from its turbocharged four-cylinder. The 540i xDrive gets a more impressive jump of 40 horsepower and 52 pound-feet to 375 horsepower and 384 pound-feet. According to BMW, that only knocks a tenth of a second off the estimated zero to 60 mph sprint, but I have a feeling independent testing might undercut that estimation. Every BMW 5 Series gets an eight-speed automatic transmission with Launch Control and paddle shifters.

An optional M Sport Package and M Sport Professional Package add the typical gamut of performance-oriented goodies. An M Sport Suspension and M Sport brakes are the only hardware upgrades you’ll find; all the rest is cosmetic. Not that it doesn’t add value.

Fuel Economy and MPG

We don’t have numbers on fuel economy quite yet, but we’ll update this post when we do. Expect similar numbers to the current-generation vehicles, around 28 mpg combined city/highway for the four-cylinder 530i and 25 mpg for the six-cylinder 540i xDrive.

Improved Interior and Cargo Space

The 2024 BMW 5 Series gets a significant upgrade in quality and attention to detail in the cabin. A redesigned steering wheel provides intuitive controls, and configurable ambient lighting makes personalization easy. The interior of the new BMW 5 Series closely resembles a slightly pared-down 7 Series interior instead of a churched-up 3 Series as it has in the past. For example, you can option the Panoramic Sky Lounge roof in the 5 Series for the first time. A Luxury Seating Package adds comfortable features like ventilated seats, multi-contour seats, and front and rear heated seats.

Advanced Technology and Connectivity

Gaming on the 2024 BMW 5 Series

The 5 Series joins the rest of the BMW lineup with the ubiquitous curved display providing a 12.3-inch digital gauge cluster and a 14.9-inch central information display. iDrive 8.5 is pretty easy to use, even if you haven’t used an iDrive system before. You still get an iDrive controller in the center console, too, which makes it exceptionally easy to navigate the system while on the move. Navigation, wireless Apple CarPlay/Android Auto, MyBMW App integration, voice commands, and wireless charging come standard.

Technology is everywhere in the 2024 BMW 5 Series. The BMW Interaction Bar – lifted from the 7 Series ­– provides an upscale feel and changes colors based on your driving mode. From a head-up display to the all-new in-car gaming (via AirConsole) feature, the BMW 5 Series is exceptionally modern. You’ll probably want to splurge for the Convenience Package (Remote start, heated seats and steering wheel) at a minimum.

Enhanced Safety and Driver Assistance Features

The Active Driving Assistant suite of driver aids includes a Frontal Collision Warning with Left Turn Warning, Lane Keeping Assistant with blind spot monitoring, cross-traffic warning, speed limit info, and exit warning. Every 2024 BMW 5 Series gets it. You’ll also find an automatic park assistant and Backup Assistant on each car, allowing for mostly automated perpendicular or parallel parking.

Optional additions range from the familiar surround-view camera system to an improved Driving Assistance Package. The latter includes Highway Assistant, which provides hands-free driving up to 85 mph and even automated lane changes by monitoring the driver’s eye movements. While certainly novel, I’m not sure it’s something that sets the car apart from the competition on its own. The good news is the 2024 BMW 5 Series comes better-equipped standard than its primary competitor, the 2024 Mercedes E-Class.

2024 BMW 5 Series Pricing

New 5 Series in Brooklyn Grey

The base 5 Series gets a price bump, starting at $57,900 (+$995 destination) for a 530i, compared to $56,000 for the 2023 version. The 540i – so far announced only in the xDrive version – starts production in November 2023 and starts at $64,900 – down from $65,200 for a 2023 version. The 2024 Mercedes-Benz E-Class will be the closest competitor in terms of price, technology, and drivability. Rivals like the Audi A6 and Genesis G80 provide a lower start price but are proportional steps back in almost all areas.

2024 BMW 5 Series FAQ

When does the 2024 BMW 5 Series begin production?

The new BMW 5 Series starts production before its October 2023 market launch at Plant Dingolfing in Germany.

Will there be a 2024 BMW 5 Series wagon or a 5 Series Touring?

A 5 Series wagon/Touring variant is coming in 2024. Whether or not any variant other than the high-powered M5 Touring makes it Stateside remains to be seen.

Where’s the BMW 5 Series PHEV?

A PHEV version is on the way, to arrive in 2024. Expect vastly improved electric range and a significant bump in horsepower over the outgoing G30 5 Series PHEV.

When will the 2024 BMW 5 Series be available?

The first cars will hit showrooms in October 2023.