Autoblog and Yahoo may earn commission from links in this article.Will the Best M5 Please Step ForwardThe M5 sedan is a legend that needs no introduction. It's no longer the singular version. Now, there's a long-roofed variant. It's the first BMW M5 wagon to ever show up on our shores. This cargo-hauling tarmac monster gives enthusiasts something they have wanted for decades: a high-performance wagon wearing a BMW M badge. For the first time, buyers can choose between the traditional BMW M5 Sedan and the new M5 Touring, with both models sharing the same 717-horsepower twin-turbo V8 plug-in hybrid powertrain, chassis, and technology.BMWThe fact that there are now two versions of the latest M5 means shoppers of premium BMW family performance steeds have to make a decision. One is a sedan, and the other is a wagon. Do they share enough to make it a tie, or are the differences enough to make one a better fit for your lifestyle? Let's take a closer look.Performance: There's Hardly Any DifferenceBMWUnder the hood, both the M5 Sedan and M5 Touring use BMW's high-performance plug-in hybrid system. A twin-turbocharged 4.4-liter V8 works alongside an electric motor to produce a combined 717 horsepower and 738 lb-ft of torque. Power is sent through an eight-speed automatic transmission and BMW's M xDrive all-wheel-drive system. Both vehicles feature Integral Active Steering (aka, rear-wheel-steering), which turns the wheels in opposite directions at low speeds for enhanced maneuverability and in the same direction at high speeds for improved stability.BMWThe sedan has a slight advantage in acceleration thanks to its lower weight. The sedan weighs It can reach 60 mph in a mindblowing 3.0 seconds, while the wagon trails by a tenth or two depending on conditions. Unless someone is clocking you, nobody (and we mean nobody) will be able to tell the difference. Both the sedan and the wagon top out at 155 mph (governored). With the governor removed, both will reach 190 mph. That's some serious speed for something that can pick up the kids and the groceries.BMWAdvertisementAdvertisementBoth vehicles feel brutally fast. The instant torque from the electric motor helps eliminate turbo lag, while the V8 delivers the kind of relentless acceleration expected from a modern M car. Whether you're merging onto the highway or attacking a winding back road, either version provides more performance than most drivers will ever use. If outright speed is your priority, the sedan gets a narrow victory. But it's a very small one.Practicality: The Wagon Wins EasilyThis is where the M5 Touring wins, and it's really no contest. The wagon offers significantly more cargo space than the sedan (27.2 cubic feet vs. 16.5 cubic feet). You can fold both cars' seats down, but the wagon still wins with a total of 67 cubic feet. The sedan adds space with the seats folded, but it's not anywhere near the Touring's capability. The large rear hatch opening allows you to load bulky items, luggage, bicycles, golf clubs, or family gear with ease. I was able to fit two golf bags into the M5 sedan. The Touring can swallow more than twice that.The sedan's trunk remains useful, but it simply cannot compete with the flexibility of the wagon's cargo area. For buyers with families, active lifestyles, or frequent road trips, the Touring delivers a level of practicality that few high-performance vehicles can match. It combines supercar-level acceleration with the utility of a family hauler. If cargo space matters at all, we say go with the Touring. It's road-trip ready for a family of five. The Sedan will struggle in that department.Styling: Sleek Sedan or Wicked Wagon?The latest M5 is not a subtle vehicle, in either wagon or sedan forms. Both body styles feature aggressive front-end styling, flared fenders, big wheels, a huge diffuser, and protruding quad exhaust tips. The sedan looks muscular and purposeful. It's rear dimensions are tighter. It carries the traditional three-box silhouette that many BMW enthusiasts associate with the legendary M5 nameplate. To the uninitiated, it might just look like a 5-Series with extra body cladding (the rest of us know better).AdvertisementAdvertisementThe Touring, however, has more presence. Its two-box design is slightly longer, and then there are changes like the big roof spoiler and the larger taillights. It has a certain fullness that the sedan lacks, especially in the United States, where performance wagons remain relatively rare. Some buyers will prefer the classic appearance of the sedan. Others will appreciate the freshness of a high-powered station wagon (especially in matte paint), as well as the obvious practicality of the Touring. I've driven both the Sedan and the Touring. The wagon easily turns more heads and gets more thumbs ups.Cost and OwnershipPricing between the two models is relatively close, though the Touring commands a modest premium. The M5 Sedan has a base MSRP of $123,300. The Touring costs $125,300. That's just $2k separating these two versions, and that's a pittance when this premium German steed is well over six figures. As we mentioned before, there's pretty much a negligible difference in performance.Considering the additional cargo space and the more prominent look of the Touring's two-box design, some buyers may find the extra cost worthwhile. That's not just a guess. The Touring is currently outselling the sedan. Fuel economy differences are minimal (14 mpg combined for the sedan; 13 for the wagon), and both vehicles offer a limited amount of electric-only driving (25 miles) thanks to their plug-in hybrid systems.Final VerdictThe BMW M5 Sedan is still the purist's choice. It's slightly lighter, a litle bit quicker, and sticks to the to the decades-long M5 tradition. The BMW M5 Touring will do more for families when it comes to cargo capacity and for those who want versatility without giving up much in the performance department. Some might even say that it looks better than the sedan. For most buyers, the M5 Touring is the more versatile and interesting package. It proves that you don't have to sacrifice practicality to enjoy 717 horsepower.AdvertisementAdvertisementThis story was originally published by Autoblog on May 30, 2026, where it first appeared in the Features section. Add Autoblog as a Preferred Source by clicking here.