The E34 M5 was produced from 1989 to 1995, although sales in North America started in 1991 and ended in 1993. It was produced at BMW M GmbH in Garching, Germany and like the previous M5, was entirely hand-built. It utilized the 535i chassis which was produced at BMW's Dingolfing plant. Assembly was done either by a single M employee or a team of M employees and generally took about two weeks. It is rumored that the test drivers of the E34 M5 could determine who or what team made each specific M5, due to characteristic quirks of the handbuilt nature of the E34 M5. The engines were also built by hand by BMW M technicians. All of the E34 M5 powerplants were built to 5% of advertised output.
The early E34 M5 used an evolution of the 24-valve I6 found in the E28 M5 and E24 M635CSi/M6. Designated S38B36, the engine technically remains a 3.5 L, with a bore of 93.4 mm and stroke of 86 mm for a total capacity of 3535 cc. The added stroke is due to a new forged steel crankshaft, though the camshafts were also changed. Compression was up slightly (10:1 versus 9.8:1). Other adjustments made included an electronically controlled butterfly valve in the intake plenum which provided better low rpm and mid-range power. The engine also featured an improved flywheel, Bosch Motronic fuel injection, equal length stainless steel headers and three way ceramic catalysts.
The E34 M5 had a highly-tuned I6 engine called the S38B36. Originally it had a displacement of 3.6 L and produced 315 hp (235 kW) at 6900 rpm, and 266 ft·lbf (361 N·m) at 4750 rpm. Cars sold in North America and Switzerland which, due to a different catalytic converter, produced 310 hp (229 kW) and 265 ft·lbf (359 N·m).
In 1992, the engine displacement was increased to 3.8 L with the S38B38, except in North America, which continued with the 3.6 L engine. Power was now increased to 340 PS (335 hp/250 kW). Also in 1992, a Touring version was introduced in LHD form only.
The M5 came with an unusual wheel design. From 1988-1992 the M5 featured the M-System wheels. These wheels were 8x17J, but came with directional bolted-on wheel covers. Under the cover was a black 5-spoke alloy wheel. The press was critical of the design, often claming it gave the M5 the appearance of having "white-wall" tires. In 1992 BMW changed the design and a new cover was produced - the M-System II. The original intent of the M-System cover was to direct more air to the brake assembly to increase cooling. The cover actually integrated a fin assembly behind the cover. The M-System II covers, known as the "throwing stars" did not have as much capability to direct air to the brake assemblies. In late 1994, the M5 came with M Parallel wheels that did away with the cover.
Performance
+ 89-92 (Euro) I6-24v 3.6 L
- 0-60 mph: 6.3 s
- Top speed: 155 mph (electronic limited)
+ 92-95 (Euro) I6-24v 3.8 L
- 0-60 mph: 5.9/5.7 sec
- Top speed: 155 mph (electronic limited)
+ 91-93 (USA) I6-24v 3.6 L
- 0-60 mph: 6.4 s
- Top speed: 155 mph (electronic limited)
- 0-60 mph: 6.3 s
- Top speed: 155 mph (electronic limited)
+ 92-95 (Euro) I6-24v 3.8 L
- 0-60 mph: 5.9/5.7 sec
- Top speed: 155 mph (electronic limited)
+ 91-93 (USA) I6-24v 3.6 L
- 0-60 mph: 6.4 s
- Top speed: 155 mph (electronic limited)
