BMW M5: Old & New Review

The saying goes that you should never meet your heroes, and more often than not, that logic extends to the humble car.

Pining back to a popularised ride from your glory days typically involves a hazy recall and a pair of rose-tinted glasses. It seems the human memory withholds a hidden magic superpower designed to erase the bad and embellish the good.

So, you can imagine the degree of trepidation on this sunny Autumn day as we set out to meet one of the most legendary super sedans of them all. A gleaming ‘Alpine White’ BMW E34 M5 with 202,000km on its odometer.

The E34 was the quintessential super saloon of the 1990s. It was a performance icon as much as it was a vehicle to simply be seen in. A car from a time when German luxury marques were not Top 10 sales aspirants in Australia.

We start the day aboard the E34’s great grandson, BMW’s systematically brilliant F90 M5, the newest version that arrived in Australia this week and has received universally glowing reviews and a World Performance Car of the Year gong to its name.

In many ways, the two are a long way removed: “The M5 badging will share some resemblance,” jokes our BMW minder as we set off on the journey from the company’s HQ in Mulgrave, Melbourne.

However, the comparison here isn’t in measuring new versus old. It’s more of a testament to the E34, which is still regarded by many as the best M5 of them all – and specifically, whether the modern interpretation truly hits the mark.

You likely already know the answer, but for this correspondent, a fully-fuelled, fully refurbished E34 begs the question anyway.

Less is more

The E34 was the first M5 to be imported to Australia in an official capacity. For many people, it is the classic M5 to have – because while newer M5s have the performance and straight-line shove, they’re less satisfying to drive.

Rolling up to an empty car park in Lysterfield in Melbourne’s east, the E34 sits sparkling in the sunshine, presenting as a time capsule from the 1990s. The crisp white paintwork juxtaposes it as pure and saintly in the presence of our ‘Marina Bay Blue’ modern interpretation, harking back to a simpler time.

All the design and performance flourishes of the day are correct and present: kidney grille, four distinct headlights, a restrained exterior and wheels designed to optimise brake cooling.

Under the bonnet, the E34 was offered with slightly varying capacities. It’s a 3.5-litre inline six in this case, one that’s good for 232kW at 6900rpm and 360Nm at 4750rpm, and was originally derived from the legendary M1. Drive is sent to the rear wheels via a smooth-shifting five-speed manual gearbox.

The E34’s biggest boon, away from silky rear-drive dynamics, was self-levelling rear suspension – a first for BMW. Our example also has a rear sunshade, rear air-vents and ABS.

For me, it’s the thud of the car’s driver-side door that is most enamouring upon first inspection. It symbolises an era that was largely devoid of many of today’s modern conveniences and efficiencies; in short, it allowed car-makers to equip their machines with bulky components such as doors.

Including the bank vault-like gateway to the interior, the body work on the E34 is immaculate. I ask if it has been re-sprayed, such is the condition and purity of the paintwork. BMW insists it hasn’t.

Perhaps it is because this particular example, a three-owner country car originally purchased new from Albury in 1992 for the princely sum of $168,900, has been through the automotive equivalent of a health retreat.

Purchased by BMW Australia and added to its growing ‘heritage fleet’, it boasts fully refurbished wheels, renewed suspension and brake components, and a thorough makeover.

No expense has seemingly been spared.

Inside, the revamp continues. The seats have been re-bolstered and re-clothed in original material, presenting as new, the door trims and carpet are restored to their original charm and the ashtrays scattered around the cabin now appear as though they haven’t been used.

The moment

Firing up the E34’s inline six gives you a real idea of what this machine is about. The smooth six has barely settled into its off-beat idle before I’ve fallen for its nostalgia and mechanical charm.

Depressing the clutch, shifting the five-speed into first gear and applying lock to the hydraulic steering, it seems age has been kind to this Bavarian bruiser.

It rolls around town with a simple, paired-back purpose: the steering is notably slower than modern units and the engine doesn’t offer that instantaneous shove familiar with modern turbo mills.

By the same token, the car’s suspension and thicker tyre walls allow the E34 to simply breathe over bumps, while the five-speed encourages driver involvement.

The car’s 0-100km/h time of 6.3 seconds still appears readily achievable, too, though mechanical sympathy prevails on this day and I choose to shift relatively early, at 5000rpm, just as it hits its straps.

Ironically, this means we never really test the engine’s full potential; the true meaning of the term ‘screaming ‘six’.

Nor did we need to. The E34’s organic demeanour didn’t require aggressive driving to exploit maximum enjoyment. It’s just as enjoyable cruising, a true hallmark of a modern classic.

Bugbears? No glaring ones, in honesty. Rather, small everyday efforts turn into big efforts in a 20-something year-old car. The countless requests for U-turns to keep our hard-working videographer happy tend to become burdensome, and the car’s A/C has seen better days, meaning the cabin is far from cool.

Modern factor

Of course, all of these trivial complaints are covered by the latest iteration of the M5, the F90.

From its sparkling interior and modern conveniences (including noteworthy levels of safety), to the increasingly electrically-assisted premise of the controls, it is a far more liveable proposition. Particularly if your commute involves serious start-stop traffic.

The flip side here is that, while it is incredibly more pointed, faster and more precise, the F90 simply cannot emulate the organic feel and innate mechanical feel of the E34. No modern car can.

At $199,990 plus on-road costs, the modern M5 is almost cheap compared its 1990s namesake, and it is loaded with way more convenience features, not to mention an all-wheel drive system that will truly dissect a tight road or open race track.

That’s despite the fact the M5 is considerably bigger in size and weight, at nearly five metres long and 1855kg. In fact, the E34 is smaller than a current M3!

Yes, the acceleration of the F90 is brutal (comparatively and otherwise), the steering is sharper and the body stays flatter through corners. Progress is probably best conveyed by its pffocoa; nought to 100km/h time of 3.4 seconds.

But conversely, the ride is sharper, the cabin is eerily quiet (as per modern standards) and its exhaust sounds a tad synthetic against the glorious six of the original.

Which would we prefer in the garage? Both, to be frank. The M5 has come a long way, and experimented with some different formulas in that time.

But these book-end models (in Australia at least) stand to be the best. If history agrees, both will be remembered as true icons of their time.

Price: $199,990 (plus on-road costs)
Engine: 4.4-litre twin-turbo V8 petrol
Output: 441kW/750Nm
Transmission: Eight-speed automatic
Fuel: 10.5L/100km (ADR Combined)
CO2: 241g/km (ADR Combined)
Safety rating: Five-star ANCAP

1990 BMW M5 pricing and specifications:
Price (as new): $168,900 (plus on-road costs)
Engine: 3.5-litre in-line six
Output: 232kW/360Nm
Transmission: Five-speed manual
Fuel: 14.4/100km (ADR Combined)
CO2: N/A
Safety rating: N/A