The second generation of the M5 Touring was offered in 2007 and only in Europe.
For the first time, it was also available with a left-hand drive. The previous M5 Touring, the E34, was not.

The fourth generation of the M5, like the second generation of the M5, offered in two body styles: sedan or station-wagon. Unlike the E34, the E60 was available with a left-hand drive as well. The E60 M5 Touring was not available in the U.S.

From the outside, few details could tell to a bystander that the family-car station-wagon featured a V10 engine under the hood. For starters, there was the bumper design, aerodynamically profiled with an apron and side scoops for the brakes. On the front fenders, there was an exhaust air-scoop, that evoked the scoop on the BMW 507. The mirrors were different than those on the regular station wagon. In the back, four exhaust pipes were screaming under the bumper.

The interior had few differences when compared with the rest of the 5-Series Touring range. The M-badge was present on the tachometer and the steering wheel. The gearshift-selector had a different design, like the head of a golf club. Three buttons were on the center console, for various programs for the gearbox changing parameters.

The BMW M5 Touring was the fastest production station-wagon in the world at the time of its launch. It also was the only station-wagon with a V10 engine in it.