BMW has just added three new engines to the 5 Series range. At the entry-level, the 1,995cc diesel engine from the BMW 320d is now available in the BMW 520d saloon. More interestingly for the enthusiast are two new higher-powered BMW 5-series cars, the 4-litre V8 powered 540i and the 4,799cc V8 550i, available in both saloon and Touring body styles. Trevor Nicosia got behind the wheel of the new V8 models for a few hours. Here's what he thought.

BMW 550i M-Sport Touring

Starting at the top of the BMW 5-series range (the specialist M5 excepted), the BMW 550i with its 367bhp 4.8-litre V8 is the fastest non-M5 model ever to grace the 5-series range. As with the vast majority of "non-poverty" specification BMWs, first impressions were favourable. Our car looked very smart on its standard (M-Sport model) 18-inch alloy wheels. Inside the view was no less favourable with brushed aluminium dash trim contrasting with the leather of the seats. The standard fit I-drive system controls everything from tuning the radio to the optional satellite navigation system, although it's still not particularly intuitive to first-time users.

Our test car also came with the optional six-speed automatic gearbox, a six speed manual gearbox being standard. The final piece of trickery fitted was the optional Head Up Display (HUD) unit which projects the speedometer reading to be apparently about 3 inches above the bonnet and about the same distance in front of the car. The 5-series was the first ever BMW to be fitted with the HUD system, apparently only previously seen in fighter planes. It's just a shame that it is a £925 option as it allows drivers to monitor speed without taking their eyes of the road - all the more important in these camera-infested times.

Moving off. Along with the new engines in the range is a raft of updates carried across the entire 5-series range. The first of these to register with the driver is the new key fob, which replaces the conventional key, but slots in the same place as a key would. The second of these updates is the start/stop button. Push the button, and the engine fires up. Slot the automatic box into Drive and off we go; foot down and it's off we go rather quickly, the 367bhp making light work of the 550i Touring's 1,825kg kerb weight. Foot to the floor, the 550i Touring will accelerate from 0-62mph in 5.7 seconds (say 5.5 for 0-60mph then) with the driver doing no more than holding his right foot flat. Gone are the days when manual gearbox cars were so much quicker than the automatic alternatives. BMW claims that the manual car is only 0.1 seconds faster to 62mph, but this would need a brutality of starting technique and gearchange beyond the average driver. The automatic would be the quicker and easier option for most drivers. Not only that, but official figures show the automatic 550i to be fractionally the more economical choice too, but at £1,450 for the initial outlay, maybe purchasing on economy grounds would be well, a false economy.

The day's test route comprised a mixture of A and B roads between a few towns. Here the 550i acquitted itself very well. The (also optional) sports suspension was firm, but not so firm as to detract significantly from the ride; needless to say, body control was excellent with no trace of wallowing, even as the speed built up. Combined with the automatic gearbox, engine response is instant and very much addictive such was the urgency with which the 550i Touring raced forward at every depression of the loud pedal. The engine note is not so loud that it drones or tires the occupants, but every time acceleration is called upon the engine note rose and gave off the typical V8 (muted) howl that just adds to the occasion.

Brakes, massive ventilated discs all round, were up to the job of stopping this very fast station wagon, belying the weight of the car. If I'd not looked up the kerb weight, I'd have guessed at a good 300kg lighter by the way this car drives.

The end of the route arrived all too soon; this was one car, which I really didn't want to give back. If I'm the target audience for the 550i Touring (mid forties, family, likes refinement as well as performance) then BMW has hit the nail absolutely head on. Now I had a chance to look round the car, rear legroom was more than adequate and the rear seat looked just as inviting as the fronts - except I'd want to drive this rather than be driven in it. A huge luggage area hides beneath the rear hatch, all trimmed in a fashion commensurate with the price.

Ah, the price. The basic model 550i M-Sport Touring is £47,775, but the list of extras fitted to our car soon raised that with our automatic gearbox, HUD system and the satellite navigation system bumping that up by almost £3,800 before even starting on the less obvious extras, some of which probably should be standard at this price level. But looked at another way, the 550i (taking the saloon to be a fairer comparison) is £17,000 cheaper than the M5 and provides more than enough performance for nearly all potential buyers, so maybe it's a bargain after all?

BMW 540i SE Saloon

If you can't quite stretch to BMW 550i money, what about the 540i? Is it a poor relation or worthy cheaper alternative? Our car was in SE specification, so less sporty suspension, less sporty 17-inch wheels and tyres and of course the engine 'downgrade'. The smaller 4-litre V8 produces 306bhp; some 61bhp down on the 550i, but barely one bhp/litre less than its big brother, so a similar level of tune. Again, the car on test was fitted with the optional six-speed automatic gearbox, a six-speed manual gearbox being the standard fitment. Our car also had an attractive 'cuboid' pattern aluminium trim on the dash area that looks sportier than the brushed aluminium in some of the other cars in the BMW range.

To be fair to the 540i, the difference in power wasn't that apparent in the real world. The figures show that 0-62mph takes 6.2 seconds, but half a second makes little difference out on the road. This is still a quick car by most standards, and in common with almost all larger BMWs, more than capable of the 155mph at which the speed is electronically limited. Some of this may have been down to the lighter saloon body style: the 540i saloon is 100kg lighter than the 550i Touring, and 90kg of that is attributable to the body shape. The same huge ventilated discs have an even easier time coping with the reduced weight, but it was noticeable that when pushing the 540i along B-roads, the lack of the Sport suspension option and the narrower tyres combined to just take the edge off the security demonstrated by the 550i M-Sport. It was hardly a case of lurching from corner to corner though; if I had not just driven the M-Sport model I doubt I'd have complained. It's just a difference in priority; the SE trades that last nth of handling prowess for just that little bit more ride quality. If you're not planning to flog every last bit of performance out of the car, maybe the SE option is the way to go, but for keen drivers it's worth the trade off to have the M-Sport suspension.

My conclusion here is that there was a larger discernible difference between the SE and M-Sport suspension characteristics than there was between the 540i and 550i engines. If you want the saloon body, then the 540i is certainly not a poor relation to the 550i. With the 540i bringing a £7,000 - 8,000 saving against the 550i, it may prove better value for those where value outweighs the need to have the most prestigious badge on the boot.