The BMW 5 Series is now £100k! - Review | BMW 550e (2024 G60)
In the UK, we have a very unusual way of measuring inflation. Sure, we could calculate inflation rates according to the Bank of England records, but that would be far too easy, comprehensive and sensible. Instead, we measure inflation by calculating the year-by-year price increase of a small chocolate frog, affectionately known as The Freddo Bar. Patriotic Brits have been tracking the price of the humble Freddo in accordance with inflation, and the results don't make for good reading. But I've found a new scale of inflation reporting. - While it's not chocolate, it is definitely equally recognisable: It's the BMW 5 Series.
Since the 1970s, the BMW 5 series has been as familiar on our streets as buses and bicycles. The latest version, the G60, is the eighth generation of the universally loved family saloon, with each edition bringing a new level of excellence over the years to keep competitor manufacturers on their toes. The latest model is almost certainly the best so far, but it's also the most expensive by quite some margin with a global recession and a national cost of living crisis… the timing of of the most expensive 5 series ever couldn’t really be any worse.
From essential groceries to takeaway coffees, prices are rising at an alarmingly unfair rate. It's not just Avocados and Oat Milk Lattes that are causing a reaction in retailers; BMW's latest top-of-the-range 550e stands out as another item likely to trigger questions like, "I'm sorry, how much did you say!?”
Car prices have skyrocketed across the board in the past couple of years. Like many other manufacturers, BMW has been grappling with increased pricing from parts suppliers, challenges obtaining certain materials, and additional hurdles such as government-enforced regulation changes. These challenges have inevitably led to the rise in car prices, a situation that some potential car buyers might empathise with but many others may not receive so kindly.
On a recent BMW media day in the heart of the Cotswolds, I was invited to try out a selection of new BMWs, mostly new EVs. Amongst the lineup of cars to try was a top-of-the-range version of the latest 5 series, the 550e, a plug-in hybrid which offers a 3-litre 6-cylinder petrol engine paired with an electric motor and battery pack.
I'll start with the good news: The eighth generation of the 5 series, and specifically the 550e, is absolutely excellent. I'm not yet completely sold on the styling, but the most crucial factor, the way it drives and feels, is all extremely positive. The interior is luxurious and intuitive, the technology is sublime, and buyers looking to upgrade from a previous generation to the latest will be rewarded with a feeling of upgrade, reassurance and familiarity.
The G60 has a variety of engines and powertrains ranging from an SE 520i to the best of the best in the range (until the M5 is unveiled later this year), the M Sport 550e. What makes the 550e so good is the pairing of BMWs industry-leading 308 hp 3.0-litre straight-six petrol engine and a plug-in hybrid system, which can either offer an independent electric range of around 50 miles or act as an electric boost to the turbocharged petrol engine, totalling an overall 489 hp delivered to all four wheels.
The G60s drive offers everything you would hope to gain from a 5 series: luxurious comfort and ease for everyday use with additional driver engagement, dynamic handling, pin-sharp braking, and thrilling acceleration for times when you might want to make the most of the 'M division's' influence. Thanks again to the hybrid systems, the 550e can boast impressive economy figures, too, with figures as high as 353.1 mpg. As M Sport BMWs have been for generations, The G60 is excellent at pretty much everything.
My drive around the quaint villages of Oxfordshire left me feeling impressed and satisfied in equal measures. The universally loved BMW saloon is still worth considering for those wanting a comfortable, spacious and prestigious car with just the right amount of an executive and sporty flair—tick, tick and tick. But then, just before stepping out to sample the next car, something caught my eye: it was the model's press pack, tucked neatly between the centre console and passenger seat. The press packs are laminated sheets detailing the itemised selection of options, specifications and useful figures to help journalists like me quickly grasp the headline figures for articles. It all made for straightforward reading up to the point of the price tag, which, at first, I believed to be a print error.
It would very suddenly occur to me that the BMW 550e I'd been pottering around the Cotswolds had a price tag of £99,325. Let me clarify: this was not an M5 nor an Alpina; this was simply a well-specced BMW 5 series, yet there it was in black-and-white, a price tag £700 shy of £100,000.
This got me thinking. Has the price of a BMW 5 series jumped significantly over time, or is it rising with inflation? Fortunately, I’ve worked through some figures and listed the results for each generation below. - For good measure, to keep the true analysts happy, I’ve also included Freddo prices for scale.
UK inflation vs BMW 5 Series Prices vs Cadbury Freddo Bars…
BMW E12 535i | Price when new: £8,500 (1978)
(equivalent to £44,400 today)
Freddo Bar price: £0.02p
The first 5 series, the E12, was a big hit with wealthy executives and families globally. It featured a variety of engine options, from 1.8L 4-cylinder to 3.5L 6-cylinders.
BMW E28 M535i | Price when new: £13,745 (1987)
(equivalent to £39,300 today)
Freddo Bar Price: £n/a (removed from UK market)
The second 5, the E28, featured cutting-edge technology such as electric windows and anti-lock brakes, which was significant as it was the platform for the first-ever BMW M5. The top-of-the-range 535i version featured a 3.5L engine.
BMW E34 540i | Price when new: £28,000 (1995)
(equivalent to £53,800 today)
Freddo Bar Price £0.05p
The E34 came next as the third 5 series. The new model was the first BMW model to introduce stability control, traction control and electronic damper control, as well as the option for a 4.0L V8.
BMW E39 540i | Price when new: £43,000 (2000)
(equivalent to £78,200 today)
freddo Bar Price: £0.10p
The iconic millennial, the E39, came next with a price tag that would impress the neighbours and the entire postcode. At the turn of the millennium, a 540i with options was about as exciting as a family saloon could get.
BMW E60 540i | Price when new: £45,000 (2008)
(equivalent to £66,200 today)
Freddo Bar Price: £0.15p
The controversially styled E60 followed, but thanks to a global recession, its price didn't jump as significantly as that of previous models. In modern-day money, factoring in inflation and the economic crisis of the time, a high-end E60 540i works out to be £12,000 cheaper than its predecessor.
BMW F10 550i | Price when new: £57,000 (2015)
(equivalent to £75,300 today)
Freddo Bar Price: £0.25p
The F10 was the 6th iteration of the 5 series, and with a slightly more stable economic climate and heaps of new tech included, the price started to climb again for all engine variants, which ranged from 2.0L 4-cylinder to 4.4L V8s.
BMW G30 540i | Price when new £58,100 (2020)
(equivalent to £71,265 today)
Freddo Bar Price: £0.30p
The G30 came along in 2017 just as the automotive world prepared to start the big switch to EVs. As a result, the larger V8s started to decline in numbers, with inline 4 and 6-cylinder engines becoming more commonplace.
So here we are in 2024 with the new G60 5 series. Admittedly, my attention-grabbing headline is helped by £19,720 worth of optional extras, which could be an article independently. However, the price before options is still a reasonably eye-watering £78,700 before any options resembling larger wheels, upgraded sound systems, or assisted cruise control have been ticked. My journalistic intrigue led me to the BMW configurator website to see how daft I could make the price of a family car. Without exploring BMW's individual paint configurations or M models, the best I could do was £103,525 - that’s £60,000 more (in terms of modern-day money) than the first ever 5 series back in the 1970s.
The G60 provides all the creature comforts, luxurious options, and engaging driving modes, making the 5 Series a firm favourite for families and executives alike. It might be the best plug-in hybrid I've ever driven, but only time will tell if BMW's latest 5 is too expensive.
I’ll end on a positive. The price of Freddo Bars has since been reduced back to £0.25p. The 5 pence saving may not soften the blow for anyone wishing to buy a G60 550e, but it’ll help with the sour taste in the BMW dealership once the bank transfer clears, at least.
words: John Marcar
pictures: Henry Faulkner-Smith
