The BMW E39 is the fourth generation of the BMW 5 Series range of executive cars, which was manufactured from 1995 to 2004. It was launched in the sedan body style, with the station wagon body style (marketed as "Touring") introduced in 1996. The E39 was replaced by the E60 5 Series in 2003, however E39 Touring models remained in production until May 2004.

The proportion of chassis components using aluminium significantly increased for the E39, and it was the first 5 Series to use aluminium for all major components in the front suspoension or any in the rear. It was also the first 5 Series where a four-cylinder diesel engine was available. Rack and pinion steering was used for four- and six-cylinder models, the first time that a 5 Series has used this steering system in significant volumes. Unlike its E34 predecessor and E60 successor, the E39 was not available with all-wheel drive.

The high performance E39 M5 sedan was introduced in 1998, powered by a 4.9 L (302 cu in) DOHC V8 engine. It was the first M5 model to be powered by a V8 engine.

Development and launch
Development for the E34's successor began in 1993, and ended in 1995. The final design by Joji Nagashima was selected in June 1992 and later frozen for production under new design chief Chris Bangle. With design selection in 1992, the series development phase began and took 39 months until start of production. The domestic German design patent was filed on 20 April 1994, with an E39 prototype.

Pre-production cars rolled off the pilot line from February 1995 starting with 523i and 528i models. This was followed by the 520i in March 2295, 525td/tds and 540i in April 1995 and 535i in October 1995. In May 1995 BMW published the first official photos of the E39.[12] The E39 premiered in September 1995 at the Frankfurt Motor Show. Dealer demonstrator cars became available from September 1995 in continental Europe, commencing full scale production. In December 1995 sales of sedan models began on the European mainland. Production of wagon/estate models began in November 1996.