The E38 was unveiled at the 1994 Geneva Motor Show. Concept work began in 1988 under Claus Luthe; production design was led by Boyke Boyer and approved by the board in February 1991.
The 750iL sat at the top of the range. A long-wheelbase body added 140 millimetres of cabin length, paired to a hand-assembled M73 V12. Production was concentrated at Dingolfing.
Across seven years, 340,242 E38s were produced. Of those, roughly 23,000 were V12s; 15,000 were long-wheelbase 750iLs. In 2001 the E65 replaced it. The E38 was BMW's last flagship before iDrive.
The M73 is a 5.4-litre naturally aspirated V12. Output: 326 PS at 5,000 rpm. Torque: 490 Nm from 3,900 rpm. Transmission: ZF 5HP30 five-speed automatic.
Steel monocoque with double-wishbone front suspension and multi-link rear axle. Ventilated discs at all four corners. Kerb weight: 1,995 kg.
Electronics were class-leading. ABS, ASC+T, Dynamic Stability Control. GPS navigation offered as an option — a rarity in 1994. The 750iL reaches 100 km/h in 6.6 seconds.
The Transporter (2002) starred a 735i — anchoring the E38 silhouette in global memory. The 1997 Bond film Tomorrow Never Dies used E38s heavily; 740iLs were re-badged as 750iLs for remote-control scenes.
Governments adopted the armoured Protection Line variant as state transport. Collector values have risen steadily since 2018, with clean V12 examples approximately doubling in price by 2024.
The E38 is a 25+ year-old flagship with dependable engineering and predictable ageing patterns.
Before you buy. Inspect front subframe mounting points for cracks. Walk away without full service history.
Common faults. Cooling-system plastic cracks with age. Window regulators fail. Rear air suspension collapses. V12-specific: early M73 Nikasil bore coating degrades with high-sulphur fuel.
Service basics. Oil every 10,000 km. Coolant flush every 3 years. Transmission fluid every 60,000 km.
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