It took this long because BMW was not sure anyone would buy it
The M5 Touring is not the first performance wagon BMW has sold. The E61 M5 Touring existed briefly in the mid-2000s, available in Europe but not in most right-hand-drive markets, and it passed largely without fanfare partly because buyers at the time were not sure what to do with a $200,000 wagon. BMW apparently drew the conclusion that the market was not ready and spent the next fifteen years not building one.
The G61 M5 Touring arrives in a different environment. Performance wagons are now a legitimate and respected segment. Porsche has proved that buyers will pay significant money for a Panamera Sport Turismo. Audi’s RS6 Avant has achieved something close to cultural status in the automotive enthusiast world. Mercedes demonstrated with the E63 Estate that combining super-sedan performance with wagon practicality was not a contradiction in terms. BMW watched all of this and eventually concluded that it was time.
The G61 uses the same S68 hybrid powertrain as the G90 sedan. That means 4.4 litres of twin-turbo V8 plus an electric motor, combined output of 727 horsepower or approximately 535kW, zero to 100 in 3.5 seconds, M xDrive all-wheel drive, and a kerb weight that sits around 2,380 kilograms. It is heavier than the sedan, though not by a dramatic margin. The extra weight is structural reinforcement for the wagon body and the larger cargo area, and BMW has re-tuned the suspension to account for it.
What the wagon body actually adds
Boot space in the M5 Touring is substantial. With all seats in place, you are looking at around 500 litres. Fold the rear seats and that number rises to approximately 1,700 litres. The rear opening is wide, the load floor is low, and unlike the sedan there is no boot lip to navigate awkward items over. For anyone who regularly moves equipment, travels with large luggage, or has a family that generates gear, these numbers represent a meaningful practical improvement over the sedan.
The rear seats are usable for adults at reasonable distances. The roofline maintains enough height over the cargo area to load sporting equipment, luggage, or anything else that refuses to be compressed. The M5 Touring is not trying to be an SUV – the ride height is car-low and the whole car sits close to the road in a way that communicates its priorities clearly – but it carries more than most SUVs do while being a better car to drive than any of them.
How it drives with 2,380 kilograms to manage
The performance numbers are not meaningfully different from the sedan’s. The powertrain is identical, the drivetrain is the same, and the extra mass does not change the experience in any way you would notice accelerating onto a motorway or pressing through a fast sweeping corner. Where the weight is more noticeable is in slow tight turns and under hard braking from high speed, which are the conditions that expose any heavy car.
BMW has done the calibration work here. The adaptive suspension in the Touring is set up specifically for its weight distribution, the brakes are appropriately sized, and the steering weight is adjusted to suit. The result is a car that feels more cohesive than its specifications might suggest, and one that finds its natural pace on the kind of open, fast roads where Australia’s interesting driving tends to happen.
Track use is possible and some owners will do it, but the M5 Touring is not where you go if track performance is your primary measure. The RS6 Avant’s owners have the same conversation every year, and the honest answer is the same: these cars are exceptional on roads, adequate on circuits, and buying one for circuit use is not really engaging with what they are.
Australian pricing and the LCT conversation
Australian pricing for the M5 Touring lands at approximately $270,000 to $300,000 drive-away. At those numbers, Luxury Car Tax applies in meaningful quantities. The LCT threshold is well below the base price and the tax rate applies to every dollar above it, which adds a significant sum to the purchase price. For a car in this bracket, buyers are typically aware of this and have factored it in, but it is worth being direct: the government collects a substantial amount of money every time one of these is sold in Australia.
The running cost profile mirrors the sedan closely. Fuel consumption is meaningful, premium unleaded is the minimum, and anyone tracking the car will spend more on rubber than they will comfortably admit. The hybrid system extends battery-only range to roughly 30 kilometres under gentle conditions, which handles urban commuting without using the V8 at all. That is a genuine practical benefit for a car that will spend some of its time in city traffic.
Who actually buys a $280,000 wagon
The profile of an M5 Touring buyer is more specific than it might appear. This is not a general luxury car buyer who happened to choose a wagon. This is someone who has likely owned performance cars, understands what this powertrain does and values it specifically, has a life that generates genuine cargo requirements, and has decided not to compromise on either side of that equation.
The comparison to the Panamera Sport Turismo is natural and fair. The Panamera is a slightly different car – more GT-oriented, more about long-distance comfort, with Porsche’s characteristic driving feel. Pricing is broadly similar in Australian specification. The AMG E63 Estate, now in its final generation, is lighter and more analogue in character – it does not have the hybrid system, which means it is a purer driver’s car in some ways and a less efficient daily proposition in others. The RS6 Avant is the other obvious reference point, slightly more understated in presentation and also available at similar prices.
Against any of them, the M5 Touring makes a strong argument. The performance margin it holds over the E63 is real and measurable. The driving engagement it offers, particularly in Sport mode on an open road, is a matter of preference but it is there. And the cultural moment it represents – BMW finally building the car everyone told them to build for two decades – gives it a significance that the others simply do not have.